Coromandel International Ltd Q3 2012

 

Secunderabad, 24 January 2013: Coromandel International Limited , India’s leading manufacturer of a wide range of F ertilisers, Crop Protection Products and Specialty Nutrient Products, has reported the unaudited financial results for the quarter / nine months ended 31 December 2012 which were approved by the Board of Directors at their meeting held on 24 January 2013.

Sales turnover during the quarter ended 31 December 2012 is 2308.94 crore (previous year 2560.98 crore) marginally lower by 10% over corresponding period last year . Sales turnover for the nine months ended 31 December 2012 is 6611.93 crore (previous year 7151.09 crore).

Profit before depreciation, interest and taxes for the quarter 132.16 crore (previous year 268.07 crore). Profit before tax for the quarter 70.60 crore (corresponding previous quarter 189.25 crore). Net profit after tax for the quarter 68.65 crore (corresponding previous quarter 133.56 crore). Net profit after tax for the nine months ended 430.39 crore (corresponding previous nine months ended 571.73 crore).

The fertiliser capacity expansion project at Kakinada is on track and will be commissioned in the current quarter. Coromandel’s subsidiary, Sabero organics reported a turnover of 123.99 Crores and EBIDTA of 12.66

Commenting on the results Mr. Kapil Mehan, Managing Director mentioned ” phosphatic fertiliser consumption was severely impacted due to poor demand and low reservoir levels in the key markets. Coupled with this excessive pipeline inventory of DAP and complex fertiliser has impacted sales volume and profitability during the quarter . We are pleased that in this very challenging business environment we have improved our market share in the quarter and maintained our operations at reasonable level ”

About Coromandel International Limited

Coromandel International Limited, India’s second largest Phosphatic fertilizer player, is in the business segments of Fertilizers, Specialty Nutrients, Crop Protection and Retail. The Company manufactures a wide range of fertilizers and markets around 2.9 million tons making it a leader in its addressable markets.

In its endeavor to be a complete plant nutrition solutions Company, Coromandel has also introduced a range of Specialty Nutrient products including Organic Fertilizers. The Crop Protection business produces insecticides, fungicides and herbicides and markets these products in India and across the globe. Coromandel is the second largest manufacturer of Malathion and only th e second manufacturer of Phenthoate. Coromandel has also ventured into the retail business setting up more than 640 rural retail centers in the States of Andhra Pradesh and Karnataka.

The Company clocked a turnover of 9,823 crore during FY 2011-12. lt was ranked among the top 20 best companies to work for by Business Today and was also voted as one of the ten greenest companies in India by TERI, reflecting its commitment to the environment and society . Coromandel is a part of the 22314 Cr Murugappa Group. For more details, please visit www.coromandel.biz.

About Murugappa Group

Founded in 1900, the 22314 Crores (USD 4.4 billion) Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including eight listed Companies actively traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Tube Investments of India Ltd., and Wendt (India) Ltd.

Market leaders in served segments including Abrasives, Auto Components, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Bio-products and Nutraceuticals, the Group has forged strong alliances with leading international companies like Groupe Chimique Tunisien, Foskor, Cargill, Mitsui Sumitomo, Morgan Crucible and Sociedad Química y Minera de Chile (SQM). The Group has a wide geographical presence spanning 13 states in India and 5 continents.

Renowned brands like BSA, Hercules, Ballmaster, Ajax, Parry’s, Chola, Gromor and Paramfos are from the Murugappa stable. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees.

For Media queries, please contact

Sreenivasa Rao Behara
Head – PR, Coromandel International Limited
Tel : 040 – 66997476, 27842034/27847212
Mobile : 9963550040
Email: sreenivasaraob@coromandel.murugappa.com