Coromandel International Secures ₹1,539 Crore Order for Kakinada Fertiliser Expansion

Coromandel International Ltd. has received a significant order worth ₹1,539 crore from the Andhra Pradesh government to expand its fertiliser manufacturing facility in Kakinada. The Industries & Commerce Department has offered a 45% incentive on eligible fixed capital investment, subject to specific conditions and compliance requirements.

Government Incentives for Expansion

The Andhra Pradesh government has extended financial support to Coromandel International in the form of a 45% incentive on eligible fixed capital investment. 

This incentive is conditional upon the company meeting prescribed timelines for project execution, as well as its commitments to investment and employment generation. The exchange filing, released on Tuesday, confirmed these stipulations as part of the agreement.

Legal Victory Over Recovery Order

On 23rd January, Coromandel International secured a favourable ruling in an appeal against a ₹589 crore recovery order, which included penalties and interest. The additional commissioner of central tax from the Visakhapatnam Central GST Commissionerate had issued the recovery order against the company. 

However, the Office of the Commissioner (Appeals), Central Tax and Customs, Guntur, quashed the order on 20th January, relieving the company of the financial liability.

Coromandel International Share Performance

As of February 12, 2025, shares of Coromandel International closed at ₹1,838.20 per share, reflecting an upside of 1.02% from the previous day’s closing price. Over the past month, the stock has registered a gain of 1.67%. The stock has a 52-week range of ₹1,024.60 and ₹1,977.90 respectively.

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