Coromandel International has reported a 26% year-on-year decline in standalone net profit for the first quarter of FY27, as elevated raw material costs driven by the ongoing Middle East conflict weighed on its fertiliser business despite healthy revenue growth.

 

The agri-solutions major posted standalone revenue of Rs. 7,792 crore for the quarter ended June 30, 2026, up 10% from Rs. 7,083 crore in the corresponding period last year. Standalone profit after tax (PAT) fell to Rs. 377 crore from Rs. 508 crore, while EBITDA declined 15% to Rs. 626 crore and profit before tax (PBT) dropped 26% to Rs. 505 crore.

 

On a consolidated basis, total income rose 15% year-on-year to Rs. 8,215 crore. Consolidated PAT declined 24% to Rs. 382 crore, while EBITDA slipped 3% to Rs. 761 crore and PBT fell 24% to Rs. 514 crore.

 

The company attributed the decline in profitability to a sharp rise in input costs, with higher raw material prices triggered by the Middle East crisis eroding margins in its fertiliser business.

 

Despite the pressure on earnings, Coromandel continued to strengthen its presence across fertilisers, crop protection, bio-products, specialty nutrients, organic fertilisers and agri-retail, while expanding its agri-drone spraying and digital agriculture initiatives to improve sustainability and farm productivity.

 

During the quarter, the company stabilised operations at its newly commissioned phosphoric acid and sulphuric acid plants in Kakinada, enhancing backward integration and supply security. 

 

Its brownfield fertiliser granulation project, which will add 7.5 lakh tonnes of annual capacity, remains on schedule for completion in the fourth quarter of FY27. In the crop protection business, the capacity expansion for its key molecule at Sarigam is expected to be commissioned during the second quarter of FY27.

 

Coromandel also achieved the Responsible Care Certification during the quarter, reinforcing its commitment to health, safety, environmental stewardship and operational excellence.

 

Commenting on the results, S Sankarasubramanian, Managing Director & CEO, Coromandel International Limited, said: “During the quarter, the Middle East conflict resulted in a sharp escalation in raw material prices, while subsidy rates remained inadequate to fully offset the increased input costs. 

 

"Despite this challenging environment, Coromandel strengthened its leadership position in the Phosphatic Fertilisers segment by improving market share and adopting a disciplined approach to production, procurement and inventory management, ensuring uninterrupted fertiliser supplies to the farming community.

 

"Company leveraged the strength of its diversified business portfolio and strong execution capabilities to deliver robust growth across its non-subsidy businesses, that helped in partially offsetting headwinds in fertiliser segment."

 

He added: "The Crop Protection business recorded a strong performance, driven by growth in exports and B2B sales. Segment revenue grew by 20% year-on-year to Rs. 870 crore, while EBITDA increased 44% to Rs. 159 crore, supported by an improved product mix and healthy traction for our key technical products.”