Coromandel International Limited, India's leading Agri solutions provider is in the business of Fertilisers, Crop Protection, Bio pesticides, Specialty Nutrients, Organic Fertilizer and Retail company, has reported total income in Q2 FY2022-23 at Rs. 10,140 crore compared with Rs. 6,160 crore of the same period previous year, registering a growth of 65% over previous year.

EBITDA for Q2 was Rs. 1,055 crore growth of 42% over Q2 of previous year, PAT (profit) for Q2 was Rs. 738 crore vs Rs. 520 crore in Q2 of previous year, registering a growth of 42% over previous year.

Total income in H1 was at Rs. 15,916 crore compared with Rs. 9,837 crore of same period previous year, registering a growth of 62% over previous year whereas PAT for H1 was Rs. 1,234 crore vs Rs. 850 crore in H1 of previous year, registering a growth of 45% over previous year.

Nutrient and Allied Business: Revenue for the quarter was at Rs. 9,461 crore compared with Rs. 5,478 crore in the corresponding quarter of the previous year. The revenue for the first half was at Rs. 14,572 crore compared with Rs. 8,549 crore in the corresponding period of the previous year.

Crop Protection Business: Revenue for the quarter was at Rs. 702 crore compared with Rs. 695 crore in the corresponding quarter of the previous year.

Commenting on the financial results, Sameer Goel, Managing Director, Coromandel International Ltd. said, "Coromandel delivered a robust growth in revenue during the quarter, primarily led by high subsidy and MRP in the Nutrients business and volume led growth in others. The agricultural environment remained favourable in most of the key operating markets with above average monsoon, normal crop sowing coupled with favourable policies from the Government."

"During the quarter, the company launched liquid fertiliser ‘Acumist Calcium’, a Speciality Nutrient product. The 4 new products launched in the Crop Protection business in Q1 have received encouraging response from the market. During the year, the Crop Protection business has received 5 patent registrations for novel combinations developed by our R&D team. The company continues to work on a promising product pipeline and has plans for further launches in the upcoming period. The Company has invested in ‘Daksha’, a Drone manufacturing company and has successfully done pilot trials at the farmer’s fields for our Nutrients and Crop Protection products," commented Goel.

"With timely onset of North-East Monsoon, higher reservoir levels, residual soil moisture and softening commodity prices, we expect a favourable business environment in the upcoming Rabi season. As a leading Agri solutions provider, we will continue to drive farm productivity and bring prosperity to the farming community,” added Goel.