Coromandel International and Subsidiary Ink ₹410 Crore Lease Agreement in Thane

Coromandel International Limited is an Indian agrochemical company that makes crop protection products. Originally named Coromandel Fertilisers, the company makes fertilisers, pesticides, and speciality nutrients.

Signed a Lease in Thane

In a significant development, Coromandel International Ltd. and its wholly owned subsidiary, Coromandel Chemicals Ltd., have entered into a lease agreement for a prime property in Thane. As per an exchange filing on Wednesday, this arrangement will see Coromandel International secure ₹156.90 crore while its subsidiary stands to gain ₹253.10 crore.

Further fortifying its market position, Coromandel International has clinched a ₹1,539 crore contract from the Andhra Pradesh government for the expansion of its fertiliser manufacturing facility in Kakinada.

The Industries and Commerce Department has extended a 45% incentive on eligible fixed capital investments, subject to adherence to stipulated conditions.

Q3 FY25 Results

The company’s robust financial performance underscores its growth trajectory. Net profit soared by 122% in the third quarter of the current fiscal, reaching ₹511.77 crore as opposed to ₹230.98 crore during the corresponding period last year.

Revenue witnessed an impressive 26.9% surge, amounting to ₹6,935.19 crore for the October–December quarter, in contrast to ₹5,464.15 crore in the preceding year.

Moreover, EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation) surged by 102%, climbing to ₹721.77 crore for the quarter ending 31st December 2024, up from ₹357.84 crore in the previous fiscal. Profitability margins also exhibited marked enhancement, expanding to 10.4% in Q3, a significant rise from 6.5% in the corresponding period last year, highlighting Coromandel International’s remarkable operational efficiency and financial resilience.

Share Price and Performance 

At 9:23 AM on February 13, 2025, Coromandel International Ltd shares traded at ₹1,838.20 per share on the NSE.

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