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Coromandel International Q2 FY27 results: net profit down 32.8% to ₹548.17 crore, revenue up 5.6%
Coromandel International Limited reported standalone revenue of ₹9,935 crore for Q2 FY27, up 5.6% from Q2 FY26, while net profit fell 32.8% to ₹548.17 crore. EBITDA was ₹901.94 crore and the margin was 9.1%, against 12.2% in the year-ago quarter; compared with Q1 FY27, revenue and profit increased. The company also filed details on an independent director’s proposed second term and conversion of a loan into equity.
Key points
- Standalone Q2 FY27 revenue was ₹9,935 crore, up 5.6% from ₹9,411 crore in Q2 FY26 and up 28.3% from ₹7,744 crore in Q1 FY27.
- EBITDA was ₹901.94 crore in Q2 FY27, down 21.3% from ₹1,147 crore a year earlier, while the EBITDA margin fell 3.1 percentage points to 9.1%.
- Net profit was ₹548.17 crore, down 32.8% from ₹816.33 crore in Q2 FY26 but up 45.4% from ₹376.96 crore in Q1 FY27; basic EPS was ₹18.61.
- For H1 FY27, revenue was ₹17,679.01 crore, up 7.7% from ₹16,412.66 crore, while PAT was ₹925.13 crore, down 30.2% from ₹1,324.56 crore.
- The board approved the re-appointment of Sudarshan Venu as an independent director for a second term of five years, subject to shareholder approval.
How did Coromandel International perform in Q2 FY27?
Standalone revenue for Q2 FY27 was ₹9,935 crore, up 5.6% from ₹9,411 crore in Q2 FY26 and 28.3% from ₹7,744 crore in Q1 FY27. EBITDA was ₹901.94 crore, down 21.3% from ₹1,147 crore a year earlier and up 45.3% from ₹620.55 crore in the previous quarter. The EBITDA margin was 9.1%, down 3.1 percentage points from Q2 FY26 and up 1.1 percentage points from Q1 FY27.
Net profit for the quarter was ₹548.17 crore, down 32.8% from ₹816.33 crore in Q2 FY26 and up 45.4% from ₹376.96 crore in Q1 FY27. PBT was ₹736.89 crore, down 32.5% year on year and up 45.8% sequentially, while basic EPS was ₹18.61 against ₹27.72 a year earlier and ₹12.80 in the previous quarter. The filing also contained consolidated results, but the figures here are standalone.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 9,935 | 7,744 | 9,411 | +5.6% | +28.3% |
| Other income | 51.72 | 48.76 | 101.92 | −49.3% | +6.1% |
| Total expenses | 9,250 | 7,287 | 8,421 | +9.8% | +26.9% |
| EBITDA | 901.94 | 620.55 | 1,147 | −21.3% | +45.3% |
| EBITDA margin | 9.1% | 8.0% | 12.2% | −3.1 pp | +1.1 pp |
| Profit before tax | 736.89 | 505.34 | 1,092 | −32.5% | +45.8% |
| Tax | 188.72 | 128.38 | 275.70 | −31.5% | +47.0% |
| Net profit | 548.17 | 376.96 | 816.33 | −32.8% | +45.4% |
| EPS (₹) | 18.61 | 12.80 | 27.72 | −32.9% | +45.4% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Coromandel International's costs and profit?
Total expenses rose to ₹9,250 crore from ₹8,421 crore in Q2 FY26, an increase of ₹829.06 crore, or 9.8%. Cost of materials was the largest reported increase, rising ₹1,134 crore, or 24.7%, to ₹5,732 crore. Finance costs increased ₹36.63 crore, or 42.3%, to ₹123.24 crore, while depreciation rose ₹23.49 crore, or 33.5%, to ₹93.53 crore.
Employee cost increased ₹15.54 crore, or 6.7%, to ₹246.06 crore, and other expenses rose ₹31.75 crore, or 4.0%, to ₹834.82 crore. Other income fell ₹50.20 crore, or 49.3%, to ₹51.72 crore. There was no exceptional item, and tax was ₹188.72 crore, down ₹86.98 crore, or 31.5%, from ₹275.70 crore. The filing did not state a reason for the changes in these cost and income lines.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 5,732 | 4,598 | +1,134 | +24.7% |
| Employee cost | 246.06 | 230.52 | +15.54 | +6.7% |
| Finance costs | 123.24 | 86.61 | +36.63 | +42.3% |
| Depreciation | 93.53 | 70.04 | +23.49 | +33.5% |
| Other expenses | 834.82 | 803.07 | +31.75 | +4.0% |
| Total expenses | 9,250 | 8,421 | +829.06 | +9.8% |
| Other income | 51.72 | 101.92 | −50.20 | −49.3% |
| Tax | 188.72 | 275.70 | −86.98 | −31.5% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, standalone revenue was ₹17,679.01 crore, up 7.7% from ₹16,412.66 crore in H1 FY26. Total income was ₹17,779.49 crore, up 7.1% from ₹16,596.18 crore. PBT was ₹1,242.23 crore, down 30.1% from ₹1,776.57 crore, while PAT was ₹925.13 crore, down 30.2% from ₹1,324.56 crore. Basic EPS was ₹31.41, compared with ₹44.98 in the year-ago first half.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 17,679 | 16,413 | +7.7% |
| Profit before tax | 1,242 | 1,777 | −30.1% |
| Net profit | 925.13 | 1,325 | −30.2% |
| EPS (₹) | 31.41 | 44.98 | −30.2% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹25,953.83 crore against ₹22,523.57 crore at 31 March 2026, and total equity was ₹13,341.55 crore against ₹12,474.28 crore. Borrowings were ₹200.82 crore versus ₹204.88 crore, while cash was ₹396.87 crore versus ₹401.27 crore. Inventories rose to ₹8,309.81 crore from ₹6,818.90 crore, trade receivables to ₹2,443.07 crore from ₹1,603.58 crore, and trade payables fell to ₹3,090.81 crore from ₹3,440.47 crore.
H1 FY27 operating cash flow was negative ₹1.91 crore, compared with ₹1,945.21 crore in H1 FY26. Investing cash flow was ₹277.56 crore against negative ₹1,425.82 crore, while financing cash flow was negative ₹280.05 crore against negative ₹424.59 crore. Capital expenditure was ₹510.72 crore, compared with ₹605.05 crore in the year-ago first half.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 25,954 | 22,524 |
| Total equity | 13,342 | 12,474 |
| Borrowings | 200.82 | 204.88 |
| Cash and equivalents | 396.87 | 401.27 |
| Inventories | 8,310 | 6,819 |
| Trade receivables | 2,443 | 1,604 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −1.91 | 1,945 |
| Cash from investing | 277.56 | −1,426 |
| Cash from financing | −280.05 | −424.59 |
| Capital expenditure | 510.72 | 605.05 |
Source: Company's results filing (XBRL).
How has Coromandel International done over the last 8 quarters?
Revenue reached its highest level in the reported series at ₹9,935 crore in Q2 FY27 and its lowest at ₹4,992.81 crore in Q4 FY25. PAT peaked at ₹816.33 crore in Q2 FY26 and bottomed at ₹154.31 crore in Q4 FY26. The EBITDA margin was highest at 12.2% in Q2 FY26 and lowest at 8.0% in Q1 FY27.
Revenue rose year on year in each of the last eight quarters. In the latest quarter, revenue increased from ₹7,743.55 crore in Q1 FY27 to ₹9,935 crore, PAT rose from ₹376.96 crore to ₹548.17 crore, and the EBITDA margin increased from 8.0% to 9.1%.
Which businesses drove the quarter?
The nutrient and other allied business reported revenue of ₹9,044.03 crore, up 4.5% from ₹8,658.12 crore in Q2 FY26. Segment EBIT was ₹745.88 crore, compared with ₹998.71 crore in the year-ago quarter, and the segment margin was 8.2%. The reported EBIT decline was greater than the revenue increase, and the filing did not state a reason.
Crop protection revenue was ₹947.96 crore, up 14.4% from ₹828.84 crore in Q2 FY26. Segment EBIT was ₹148.68 crore, compared with ₹161.79 crore a year earlier, with a reported margin of 15.7%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Nutrient and other allied business | 9,044 | +4.5% | 745.88 | 8.2% |
| Crop protection | 947.96 | +14.4% | 148.68 | 15.7% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the re-appointment of Sudarshan Venu as an independent director for a second term of five years, from 3 February 2027 to 2 February 2032, subject to shareholder approval through a postal ballot and special resolution. The board approved the postal ballot notice and fixed 6 November 2026 as the cut-off date for dispatch and reckoning of e-voting rights.
The company also completed conversion of a loan of USD 9.70 million into equity shares of Baobab Mining and Chemicals Corporation, a step-down subsidiary held through Coromandel Chemicals Limited. The filing states that Coromandel Chemicals held 71.51% of Baobab Mining and Chemicals Corporation and that the transaction was undertaken on an arm’s-length basis. The board approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026.
How did Coromandel International shares react?
The stock was up 0.5% five minutes after the filing appeared and 0.5% after 15 minutes. On the reaction day, it fell 4.5% from the previous close, against a 0.6% median decline for other Fertilizers stocks; the stock therefore underperformed the industry median by 3.9 percentage points.
Earlier reaction-day moves were mixed: the stock fell 1.2% on 23 July 2026, 2.6% on 7 May 2026 and 3.9% on 30 October 2025, while it rose 0.2% on 29 January 2026, 5.0% on 24 July 2025 and 2.5% on 30 January 2025. The prior close was ₹1,910.00 and the price when the filing appeared was ₹1,821.90.
| After the filing | Stock | Fertilizers median |
|---|---|---|
| 5 minutes | +0.5% | |
| 15 minutes | +0.5% | |
| Reaction day | −4.5% | −0.6% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 23 July 2026 | −1.2% |
| 7 May 2026 | −2.6% |
| 29 January 2026 | +0.2% |
| 30 October 2025 | −3.9% |
| 24 July 2025 | +5.0% |
| 30 January 2025 | +2.5% |
| 24 October 2024 | −2.6% |
| 7 August 2024 | +2.4% |
Source: MarketPing price-reaction measurement.
How did other Fertilizers companies do?
Seven other Fertilizers companies were compared, with a median revenue growth of 22.3%. Six peers grew faster than Coromandel International and one grew more slowly. Of eight peers for which profit was compared, two reported higher profit. Coromandel International’s standalone revenue growth was 5.6% in Q2 FY27.
| Coromandel International revenue growth (YoY) | +5.6% |
|---|---|
| Median of 7 other Fertilizers companies | +22.3% |
| Companies with slower revenue growth than Coromandel International | 1 of 7 |
| Companies with faster revenue growth than Coromandel International | 6 of 7 |
| Companies whose net profit rose | 2 of 8 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Coromandel International's revenue in Q2 FY27?
Revenue from operations was ₹9,935 crore, up 5.6% from ₹9,411 crore in Q2 FY26 (standalone).
Did Coromandel International make a profit in Q2 FY27?
Yes. Net profit was ₹548.17 crore, against a net profit of ₹816.33 crore in Q2 FY26.
What was Coromandel International's EPS in Q2 FY27?
Basic earnings per share were ₹18.61, against ₹27.72 in Q2 FY26.
How did Coromandel International shares react to the Q2 FY27 results?
On the reaction day the stock moved −4.5% from the previous close; the median Fertilizers stock moved −0.6%.
When did Coromandel International announce its Q2 FY27 results?
On 6 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Approval Of Unaudited Financial Results (Standalone & Consolidated) Of The Company For Quarter And Half Year Ended September 30, 2026 (BSE, 3 November 2026) · PDF
- Outcome of Board Meeting (NSE, 6 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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