Coromandel International Ltd, a Murugappa Group company that provides agri input solutions, posted a consolidated net profit of ₹523 crore in the second quarter ended September 30, 2026, down from ₹793 crore in the same quarter last year, a decline of 34 per cent.
Its consolidated total income, however, rose by 6 per cent during the quarter to ₹10,348 crore from ₹9,771 crore a year earlier.
The fertiliser business came under margin pressure as raw material costs rose sharply following the ongoing Middle East crisis, and the subsidy did not adequately cover the increase, the company said.
For the first half of the financial year, the consolidated net profit stood at ₹905 crore, compared with ₹1,295 crore in the comparable period last year, registering a fall of 30 per cent. Total income grew by 10 per cent to ₹18,563 crore from ₹16,897 crore.
S Sankarasubramanian, Managing Director and CEO of Coromandel International Ltd, said deficit rainfall, elevated raw material prices and lower Nutrient Based Subsidy (NBS) rates for the kharif season hit product offtake and margins in the nitrogen-phosphorus (NP) and nitrogen-phosphorus-potassium (NPK) fertiliser segment.
The company supplied about 3.3 million tonnes of fertilisers in the first half, and its market share in the phosphatic segment improved to 19 per cent from 17 per cent last year, he said.
“The newly commissioned phosphoric acid and sulphuric acid plant at Kakinada helped mitigate external supply disruptions and enabled value accretion through timely support by the Government,” he said.
He expected the NBS rates for the rabi season to reflect movements in raw material prices.
The crop protection business recorded revenue growth of 22 per cent in the quarter, supported by export markets.
The new NPK fertiliser capacity is expected to be completed by the fourth quarter of FY27. Additional capacity for one of the company’s key crop protection molecules is expected to come on stream in the third quarter.
The company also plans to set up a launch plant for fluoro intermediates to support a phased scale-up from R&D to commercial production.
The retail business opened close to 100 new stores in the quarter, taking its network to over 1,300 stores.
Published on November 6, 2026
