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Informist, Wednesday, May 6, 2026

By Gunjan Rajput 

NEW DELHI – Coromandel International Ltd.'s March quarter net profit and revenue are likely to rise on year, supported by strong growth in the higher-margin crop protection segment and improved product mix, according to analysts. However, earnings are likely to decline sequentially amid rising input costs as geopolitical tensions such as the military conflict in West Asia have disrupted sulphur supplies and driven up ammonia prices. 

The organic fertiliser manufacturer is estimated to report a consolidated net profit of INR 3.33 billion, up over 43% on year but down 34% on quarter, according to estimates from four brokerages. The highest bottom line estimate is of INR 4.39 billion from Batlivala & Karani Securities India Pvt. Ltd., and the lowest is of INR 2.90 billion from Elara Securities (India) Pvt. Ltd.

The revenue of the company is estimated at INR 59.14 billion, up nearly 19% on year but down 33% on quarter, according to the average of estimates. The highest top line estimate is INR 62.36 billion from Nuvama Wealth Management Ltd., and the lowest is INR 53.60 billion from Elara Securities (India).

"Fertilizer companies are expected to bear the brunt of the on-going geopolitical tensions, unavailability of Sulphur and steep increase in Ammonia prices are expected to weigh heavy on profitability going forward if sufficient fertilizer subsidy doesn't commensurately make up for under recoveries," said Nuvama Wealth Management.

However, the company's volumes are expected to remain largely flat during the quarter, while the crop protection segment is likely to post strong double-digit growth, according to Motilal Oswal Financial Services.

The company's earnings before interest, tax, depreciation, and amortisation is expected to be in the range of INR 4.40 billion – INR 5.59 billion. The highest estimate is by Nuvama Wealth, and the lowest estimate is by Elara Securities (India). For the December quarter, the company reported EBITDA at INR 8.05 billion. The company's EBITDA per tonne for the March quarter is estimated at INR 4,299-INR 4,712, according to Nuvama Wealth and Motilal Oswal.

Market participants will watch for any developments in the military conflict in West Asia for any changes in raw material prices and product pricing, and their impact on the company when Coromandel International announces its earnings on Thursday. Wednesday, shares of the company closed marginally higher at INR 2,018.10 on the National Stock Exchange. Its shares have fallen over 10% since the company reported its December quarterly results.

All four brokerage reports available with Informist on the company have a "buy" recommendation for the stock with an average target price of INR 2,801. This is nearly 39% higher than the current market price.

The following are the March quarter earnings estimates for Coromandel International from four brokerages in descending order of the estimate of net profit in INR billion:

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Edited by Deepshikha Bhardwaj

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