Coromandel International Ltd (COROMANDEL)

Business Segments [1] a) Nutrient and Other Allied Business (88% in FY26 vs 90% in FY25): : i) Fertilizers: [2] [3] [4] [5] It manufactures NPK, DAP, SSP, MOP, and urea. It is India's 2nd-largest manufacturer and marketer of phosphatic fertilizers, the largest manufacturer and marketer of SSP, the largest private-sector NPK player, and a pioneering leader in the Nano DAP segment. It also holds a 35% share in the unique products segment and a 17.5% market share on a consumption basis. ii) Specialty Nutrients: [4] [3] The company is the pioneer & market leader in India's specialty nutrients segment, offering water-soluble fertilizers, secondary and micronutrients, and nano fertilizer products. iii) Organic Fertilizers: [6] [3] The company markets organic fertilizers, producing a range of products derived from natural sources such as city waste, sugarcane molasses and its by-products, oil cakes, and gypsum. b) Crop Protection (12% in FY26 vs 10% in FY25): : i) Crop Protection: [7] [8] [3] The company manufactures and markets a range of insecticides, fungicides, herbicides, plant growth regulators, technicals and formulations in India and international markets. It is the country's 4th-largest agrochemical player by value, with the capability to manufacture 20 technicals and intermediates. It is also the 2nd-largest manufacturer of Malathion globally and a major manufacturer of Phenthoate in Asia. ii) Bio Products: [4] [9] [10] Bio Products business focuses on plant-based extracts for agricultural applications, offering a comprehensive portfolio of biopesticides based on Azadirachtin, plant-derived biostimulants, anti-transpirants and non-ionic spreaders. It holds a global leadership position in the Azadirachtin market, with a presence across more than 40 countries in the Americas, Europe and Asia. Sale Volumes (in Lakh MT): [11] NPK+DAP: 42.77 in FY26 vs 39.88 in FY25 SSP: 8.41 in FY26 vs 7.73 in FY25 MOP: 0.67 in FY26 vs 0.69 in FY25 Urea: 22.65 in FY26 vs 13.59 in FY25 Geographical Split [12] Domestic: 94% in FY26 vs 95% in FY25 Exports: 6% in FY26 vs 5% in FY25 Retail Presence [13] [4] [14] The company operates India's largest agri-retail network with over 1,200 agri-retail outlets across Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Maharashtra. It is supported by over 3,000 marketing professionals and serves more than 5 Mn farmers across its operating markets. It has a network of 12,000 channel partners. New Product Launches [15] In FY26, Coromandel expanded its portfolio with new launches across Specialty Nutrients, Crop Protection and Bio Products. It's key additions included Fertinex 28:28:0, GypMax, Novonese, Organovita and Summit in Specialty Nutrients; Daliso, Ghibli, Chhaava and Invicto in Crop Protection; and CoroBT, GroBT, Coroscens, CoroShakti and other biological solutions to strengthen its bio-products portfolio. Manufacturing Capabilities [4] [16] The company operates 21 manufacturing facilities across India, with a total capacity of: Fertilizers: 3.5 Mn MT SSP: 1 Mn MT Specialty Nutrients: 87,500 MT Nano Fertilizers: 10,000 KL Crop Protection Chemicals: 0.87 Lakh MT Bio Products: 22.5 MT Expansion & Backward Integration [17] [18] The company commissioned a 2,000 TPD sulphuric acid plant and a 650 TPD phosphoric acid plant at Kakinada in Q4 FY26, for Rs. 1,100 Cr . It also advanced construction of the 7.5 lakh TPA NPK granulation Train H at Kakinada, expected to increase the site's total fertilizer capacity to 30 lakh TPA by Q4 FY27. Additionally, its Senegal rock phosphate project, where the company holds a 53.8% stake, commissioned a fixed processing plant and ramped up production to secure raw material supplies for the Kakinada phosphoric acid facility. It also added a 9 KTPA technical plant at Dahej for off-patent fungicides, along with capacity additions for key technical molecules at Ankleshwar and a herbicide block expansion at Sarigam. Acquisitions [19] [17] In Aug 2025, the company acquired a 53.13% controlling stake in NACL Industries for Rs. 820 Cr . MoU [20] In Nov 2025, the company signed a non-binding MoU with the Andhra Pradesh Economic Development Board to explore investments of up to Rs. 2,000 Cr in Andhra Pradesh. Focus [21] The company expects a 20-25% revenue growth in the crop protection business.