Coromandel International financials and balance sheet

NSE: COROMANDELBSE: 506395Fertilizers & AgrochemicalsMid Cap

Formerly Coromandel Fertilisers

₹1,718.00₹58.60 (3.30%)BSE ₹1,723.60

Share price at the NSE close on 23 Oct 2026. Previous close ₹1,776.60.

52-week range of traded prices to 23 Oct 2026

₹1,651.10Low, 9 Oct 2026₹2,499.00High, 19 Dec 2025

Market cap: ₹50,691 Cr174th largest listed
P/E: 27.7
P/B: 4.0
Dividend yield: 0.64%
ROE: 15.5%
ROCE: 18.4%
Debt to equity: 0.07
Volume, NSE: 80,53245.9% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Coromandel International annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings

Peak revenue ₹31,480 Cr, year to Mar 2026

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 0.9% of operating profit in the first full year.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue31,480
Materials and goods−23,669
Employee costs−1,049
Other expenses−3,546
Operating profit3,216
Depreciation−534
Other income+348
One-off items−71
Finance costs−343
Profit before tax2,617
Tax−719
Joint ventures−0.1
Net profit1,898

What the company owns

Plant, investments and other assets₹12,890 Cr
Inventory₹7,204 Cr
Receivables₹2,076 Cr
Current investments₹1,840 Cr
Cash and bank₹494 Cr

What pays for it: net worth and liabilities

Net worth₹13,133 Cr
Other liabilities₹6,698 Cr
Owed to suppliers₹3,805 Cr
Borrowings₹867 Cr

Coromandel International business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them.Coromandel International segment results by quarter

Revenue by segment

₹31,695 CrTotal

Nutrient and other allied business₹27,727 Cr87.5% of total
Crop protection₹3,968 Cr12.5% of total

Profit by segment

Nutrient and other allied business₹2,464 Cr82.8% of total
Crop protection₹511 Cr17.2% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Nutrient and other allied business
Revenue, ₹ crore
11,505
11,550
12,232
16,714
27,162
19,775
21,652
27,727
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
1,180
1,507
1,685
1,773
2,594
2,166
2,206
2,464
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Crop protection
Revenue, ₹ crore
1,802
1,685
2,084
2,511
2,636
2,457
2,637
3,968
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
283
220
347
368
366
290
363
511
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	13,307	13,235	14,316	19,225	29,798	22,233	24,289	31,695
Company revenue, as in its results	13,225	13,137	14,213	19,111	29,628	22,058	24,085	31,480
Revenue	11,505	11,550	12,232	16,714	27,162	19,775	21,652	27,727
Revenue growth	–	0.4%	5.9%	36.6%	62.5%	−27.2%	9.5%	28.1%
Profit	1,180	1,507	1,685	1,773	2,594	2,166	2,206	2,464
Profit growth	–	27.7%	11.8%	5.2%	46.3%	−16.5%	1.8%	11.7%
Margin	10.3%	13.0%	13.8%	10.6%	9.5%	11.0%	10.2%	8.9%
Return on capital	25.0%	32.2%	82.2%	120.8%	75.0%	46.7%	45.3%	38.2%
Assets	8,423	7,838	4,960	5,748	8,831	10,347	11,362	15,470
Liabilities	3,701	3,158	2,910	4,280	5,374	5,709	6,495	9,018
Capital employed	4,722	4,680	2,050	1,468	3,457	4,638	4,868	6,453
Revenue	1,802	1,685	2,084	2,511	2,636	2,457	2,637	3,968
Revenue growth	–	−6.5%	23.6%	20.5%	5.0%	−6.8%	7.3%	50.5%
Profit	283	220	347	368	366	290	363	511
Profit growth	–	−22.2%	57.4%	6.2%	−0.7%	−20.8%	25.4%	40.6%
Margin	15.7%	13.1%	16.6%	14.7%	13.9%	11.8%	13.8%	12.9%
Return on capital	26.6%	20.7%	43.6%	32.1%	28.0%	22.5%	26.8%	15.3%
Assets	1,348	1,519	1,455	1,570	2,031	1,767	2,042	4,517
Liabilities	283	454	659	421	723	478	688	1,167
Capital employed	1,065	1,065	796	1,149	1,309	1,289	1,354	3,349

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.Coromandel International quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 24 Apr	Mar 2020Filed 27 May	Mar 2021Filed 30 Apr	Mar 2022Filed 29 Apr	Mar 2023Filed 17 May	Mar 2024Filed 26 Apr	Mar 2025Filed 18 Jun	Mar 2026Filed 7 May
Revenue from operations	10,195	10,990	13,225	13,137	14,213	19,111	29,628	22,058	24,085	31,480
	9,212	9,763	11,782	11,406	12,198	16,961	26,702	19,660	21,457	28,263
Materials and goods bought	7,121	7,559	9,340	9,056	9,688	14,217	23,473	16,482	17,854	23,669
Employee costs	–	–	411	461	539	587	657	698	784	1,049
Other expenses	–	–	2,031	1,889	1,971	2,157	2,573	2,480	2,819	3,546
Operating profit before depreciation	983	1,227	1,443	1,731	2,016	2,150	2,926	2,399	2,628	3,216
Operating margin	9.6%	11.2%	10.9%	13.2%	14.2%	11.2%	9.9%	10.9%	10.9%	10.2%
Materials, % of revenue	–	–	70.6%	68.9%	68.2%	74.4%	79.2%	74.7%	74.1%	75.2%
Employee costs, % of revenue	–	–	3.1%	3.5%	3.8%	3.1%	2.2%	3.2%	3.3%	3.3%
Other expenses, % of revenue	–	–	15.4%	14.4%	13.9%	11.3%	8.7%	11.2%	11.7%	11.3%
Depreciation and amortisation	101	98	114	158	173	173	182	229	290	534
Operating profit after depreciation	882	1,129	1,329	1,573	1,843	1,977	2,744	2,170	2,338	2,682
Other income	55	58	37	40	44	144	171	231	359	348
Finance costs	224	178	251	235	106	75	190	187	262	343
Profit before one-off items and tax	713	1,009	1,116	1,378	1,781	2,046	2,725	2,215	2,434	2,688
One-off items	0	0	−24	0	0	0	0	0	347	−71
Profit before tax	713	1,009	1,092	1,378	1,781	2,046	2,725	2,215	2,781	2,617
	235	345	372	313	457	521	688	548	673	719
Current tax	243	352	387	369	460	519	692	545	674	739
Deferred tax	−8	−7	−15	−55	−3	3	−4	2	−1	−20
Share of profit of joint ventures and associates	−1	−1	1	1	5	4	−24	−27	−53	0
	477	664	720	1,065	1,329	1,528	2,013	1,641	2,055	1,898
Belonging to the company's shareholders	477	664	720	1,065	1,329	1,528	2,013	1,642	2,066	1,956
Belonging to outside owners of subsidiaries	–	–	0	0	0	0	0	−2	−12	−58
Other comprehensive income	–	–	−41	−1	13	24	−138	49	–	74
Total comprehensive income	–	–	680	1,064	1,342	1,553	1,875	1,689	–	1,972
Net margin	4.7%	6.0%	5.4%	8.1%	9.4%	8.0%	6.8%	7.4%	8.5%	6.0%
Net margin without joint ventures and associates	4.7%	6.0%	5.4%	8.1%	9.3%	8.0%	6.9%	7.6%	8.8%	6.0%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the years to Mar 2017 and Mar 2018 they do not, so they are left blank.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 24 Apr	Mar 2020Filed 27 May	Mar 2021Filed 30 Apr	Mar 2022Filed 29 Apr	Mar 2023Filed 17 May	Mar 2024Filed 26 Apr	Mar 2025Filed 18 Jun	Mar 2026Filed 7 May
	3,358	4,318	5,151	6,358	7,908	9,447	11,223	13,133
	3,358	4,318	5,151	6,358	7,908	9,420	11,088	12,558
Share capital	29	29	29	29	29	29	29	30
Reserves	3,329	4,288	5,121	6,329	7,878	9,390	11,058	12,528
Belonging to outside owners of subsidiaries	0	0	0	0	0	27	135	575
	2,954	1,625	2	0	5	52	232	867
Repayable after a year	0	0	0	0	0	0	85	80
Repayable within a year	2,954	1,625	2	0	5	52	147	787
	7,079	5,367	3,302	4,466	5,856	5,864	6,990	10,465
Trade payables	3,762	3,348	2,922	3,914	5,314	5,361	6,030	3,805
Other financial liabilities	237	256	247	270	308	290	463	5,530
Other liabilities	68	79	73	187	148	134	283	261
Provisions	18	15	22	19	24	27	59	81
Tax owed	38	43	36	75	57	0	8	2
	137	465	443	461	471	541	714	905
Other financial liabilities	2	377	364	373	384	429	18	617
Other liabilities	9	9	8	8	8	7	520	6
Provisions	14	21	14	14	20	22	7	39
Deferred tax	112	58	58	66	59	83	84	162
Total assets	10,574	10,149	8,896	11,285	14,235	15,852	18,928	24,503
	1,821	2,355	2,373	2,945	3,991	3,728	5,697	8,656
Plant in use, after depreciation	1,301	2,026	2,006	2,084	2,191	2,789	3,158	4,416
Plant being built	176	49	76	120	376	205	352	296
Intangible assets	8	6	9	7	9	38	696	1,054
Goodwill	0	0	0	0	0	285	285	601
Intangible assets being developed	15	16	14	21	23	30	43	52
Investments	201	211	214	243	287	231	169	196
Stakes in joint ventures and associates	0	0	0	0	0	0	0	8
Loans given	0	0	0	400	978	75	785	1,146
Other financial assets	0	0	0	0	0	0	1	8
Deferred tax	0	0	0	0	0	6	10	42
Other assets	120	46	54	68	127	69	197	837
	8,753	7,794	6,522	8,340	10,244	12,123	13,231	15,847
Inventories	3,241	2,697	2,601	3,663	4,416	4,613	4,770	7,204
Trade receivables	1,824	1,734	554	265	589	1,394	1,229	2,076
Cash and cash equivalents	132	51	692	706	1,394	1,125	255	423
Other bank balances	27	28	30	1,047	24	1,734	3,284	71
Current investments	0	0	0	0	0	623	862	1,840
Loans given	428	429	1,514	1,540	720	0	0	419
Other financial assets	2,437	2,417	626	329	2,411	1,514	1,667	2,422
Tax paid in advance	0	0	1	0	0	18	62	51
Other assets	663	439	504	790	689	1,103	1,104	1,342
Net debt	2,795	1,547	−720	−1,753	−1,413	−3,430	−4,168	−1,467

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 30 Apr	Mar 2022Filed 29 Apr	Mar 2023Filed 17 May	Mar 2024Filed 26 Apr	Mar 2025Filed 18 Jun	Mar 2026Filed 7 May
	4,150	1,054	1,615	1,358	970	1,558
	4,618	1,537	2,319	1,977	1,688	2,288
	2,684	−652	−624	−426	−1,033	−1,113
Receivables	1,170	290	−330	−799	162	−288
Inventories	108	−1,062	−753	−185	−140	−2,079
Payables	−290	1,016	1,419	47	728	1,920
Other working capital	1,696	−896	−960	511	−1,783	−666
Tax paid	−467	−483	−704	−619	−719	−730
Capital spending	195	278	605	527	851	1,540
Free cash flow	3,955	776	1,010	831	119	17
	−1,257	−598	−385	−1,264	−1,144	−559
Plant and property sold	0	1	16	9	417	4
Companies bought	−12	0	0	0	0	−810
Interest received	32	105	144	95	265	172
Dividends received	0	0	0	0	0	0
	−2,263	−443	−543	−363	−698	−831
Borrowings raised	0	0	0	0	0	225
Borrowings repaid	−1,624	−2	5	47	−52	−158
Interest paid	−107	−34	−152	−149	−215	−290
Lease payments	−19	−59	−62	−68	−80	−92
Dividends paid	528	352	353	186	353	529
Shares bought back	0	0	0	25	15	0
Shares issued	14	0	0	0	0	0
Net change in cash	630	14	687	−270	−872	168

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Coromandel International dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 24 Apr	Mar 2020Filed 27 May	Mar 2021Filed 30 Apr	Mar 2022Filed 29 Apr	Mar 2023Filed 17 May	Mar 2024Filed 26 Apr	Mar 2025Filed 18 Jun	Mar 2026Filed 7 May
Earnings per share	₹16.36	₹22.72	₹24.64	₹36.40	₹45.34	₹52.09	₹68.51	₹55.81	₹70.23	₹66.41
Diluted earnings per share	₹16.34	₹22.64	₹24.60	₹36.31	₹45.22	₹51.98	₹68.38	₹55.75	₹70.12	₹66.31
Dividend per share	₹5.00	₹6.50	₹6.50	₹12.00	₹12.00	₹12.00	₹12.00	₹6.00	₹15.00	₹11.00
Book value per share	–	–	₹114.82	₹147.36	₹175.55	₹216.64	₹268.97	₹319.97	₹376.37	₹425.69
Dividend payout	30.6%	28.6%	26.4%	33.0%	26.5%	23.0%	17.5%	10.8%	21.4%	16.6%
Shareholder yield	–	–	–	–	2.3%	1.5%	1.4%	0.7%	0.6%	0.9%
Market cap at the year end (₹ crore)	9,095	15,347	14,841	15,985	22,713	23,468	25,851	31,650	58,397	56,338

Ratios

Consolidated, years to March.Coromandel International PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 24 Apr	Mar 2020Filed 27 May	Mar 2021Filed 30 Apr	Mar 2022Filed 29 Apr	Mar 2023Filed 17 May	Mar 2024Filed 26 Apr	Mar 2025Filed 18 Jun	Mar 2026Filed 7 May
Revenue growth	−11.5%	7.8%	20.3%	−0.7%	8.2%	34.5%	55.0%	−25.5%	9.2%	30.7%
Operating profit growth	27.3%	24.9%	17.6%	20.0%	16.5%	6.7%	36.1%	−18.0%	9.6%	22.4%
Net profit growth	32.1%	39.1%	8.6%	47.8%	24.8%	15.0%	31.7%	−18.5%	25.2%	−7.6%
Earnings per share growth	32.0%	38.9%	8.5%	47.7%	24.6%	14.9%	31.5%	−18.5%	25.8%	−5.4%
	–	–	21.5%	27.7%	28.1%	26.6%	28.2%	19.0%	20.2%	16.5%
	–	–	–	6.3 pts	0.3 pts	−1.5 pts	1.7 pts	−9.3 pts	1.2 pts	−3.6 pts
From the net margin	–	–	–	10.5 pts	4.3 pts	−4.1 pts	−4.0 pts	2.7 pts	2.9 pts	−5.6 pts
From asset turnover	–	–	–	0.4 pts	5.7 pts	6.5 pts	5.1 pts	−11.4 pts	−1.2 pts	0.7 pts
From borrowing	–	–	–	−4.6 pts	−9.6 pts	−3.9 pts	0.6 pts	−0.6 pts	−0.5 pts	1.3 pts
Return on capital employed	–	–	21.1%	26.5%	35.8%	31.1%	34.7%	22.8%	20.4%	19.2%
Cash conversion	–	–	–	–	312.2%	68.9%	80.2%	82.8%	47.2%	82.1%
Interest cover	3.9	6.3	5.3	6.7	17.4	26.2	14.4	11.6	8.9	7.8
Debt to equity	–	–	0.88	0.38	0.00	0.00	0.00	0.01	0.02	0.07
Receivable days	–	–	50	48	14	5	7	23	19	24
Inventory days	–	–	127	109	98	94	69	102	98	111
Payable days	–	–	147	135	110	100	83	119	123	59
Cash conversion cycle, days	–	–	30	22	2	−1	−7	6	−7	76
Working capital days	–	–	123	110	64	41	37	47	30	44
Asset turnover	–	–	1.25	1.27	1.49	1.89	2.32	1.47	1.39	1.45
Assets per rupee of net worth	–	–	3.15	2.70	2.01	1.75	1.79	1.74	1.70	1.84
Sales per rupee of plant	–	–	10.16	6.48	7.08	9.17	13.52	7.91	7.63	7.13
Capital spending to depreciation	–	–	–	–	1.13	1.61	3.33	2.31	2.93	2.89
Plant being built, % of plant in use	–	–	13.5%	2.4%	3.8%	5.7%	17.2%	7.4%	11.2%	6.7%

No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 9.0%
Cash from operations against operating profit: 48.4%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	10.6%	17.2%	2.0%
Profit growth, yearly rate	18.4%	8.0%	−0.9%
Return on equity, average	–	22.1%	18.6%
Return on capital employed, average	–	25.6%	20.8%
Operating margin, average	11.2%	10.6%	10.7%
Net margin, average	7.0%	7.4%	7.3%
Asset turnover, average	–	1.70	1.43
Cash conversion cycle, days, average	–	14	25
Interest cover, average	10.9	13.8	9.5
Debt to equity, average	–	0.02	0.03

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	6,554	3,885	1,558
Cash from investing	−3,950	−2,967	−559
Cash from financing	−2,877	−1,892	−831
Capital spending	3,801	2,918	1,540
Dividends paid	1,772	1,067	529
Shares bought back	40	40	0
Shares issued for cash	0	0	0
Borrowings raised	225	225	225
Borrowings repaid	263	257	158

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	7	4	4	4	4	4
Altman Z-scorePublished threshold 1.81	–	–	3.53	4.34	7.18	6.37	6.35	6.16	7.56	5.64
Beneish M-scorePublished threshold −1.78	–	–	–	–	−4.22	−1.55	−0.92	−0.97	−1.60	−1.81
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−16.42	10.63	6.14	10.29	12.76	4.14
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	1.40	0.78	0.69	0.70
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	−4.29	−76.23	−86.68	67.44	162.03	−20.99	38.17
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	−13.75	−10.55	−5.90	−44.55	34.22	−4.91	18.46
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	−1.86	−12.13	−0.06	6.69	−2.11	0.82	3.12
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	0.06	0.49	0.48	1.30	0.25	0.53	0.17
Effective tax ratePublished threshold 17.16 per cent	33.01	34.20	34.08	22.75	25.65	25.48	25.24	24.73	24.19	27.47
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	1.85	−0.58	−3.22	−1.65	−0.43

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
21 Aug 2026	India Ratings and Research Private Limited (opens in a new tab)	Issuer Rating	IND AAAReview, Re-affirm	Stable
21 Aug 2026	India Ratings and Research Private Limited (opens in a new tab)	Commercial paper	IND A1+Review, Re-affirm		1,000
21 Aug 2026	India Ratings and Research Private Limited (opens in a new tab)	Bank loan facilities	IND AAA; IND A1+Review, Re-affirm	Stable	2,500
14 Apr 2026	CRISIL Ratings Limited (opens in a new tab)	Bank Facilities	Crisil A1+Review, Other		2,450
14 Apr 2026	CRISIL Ratings Limited (opens in a new tab)	Bank Facilities	Crisil AAAReview, Other	Stable	70

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.