Coromandel International has completed the allotment of equity shares under its Employee Stock Option Plan, marking another step in its employee incentive program. The Stakeholders Relationship Committee approved the allotment on February 24, 2026, demonstrating the company's commitment to employee participation in ownership.

ESOP Allotment Details

The committee approved the allotment of 19,230 equity shares under the ESOP Scheme 2016. These shares carry a face value of Re. 1 each and are fully paid up to the option grantees. The newly allotted shares will rank pari-passu with existing equity shares, ensuring equal rights and privileges across all shareholdings.

Impact on Share Capital

The allotment has resulted in an increase in the company's authorized and issued share capital. The share capital structure reflects the addition of the newly allotted ESOP shares to the existing equity base.

Regulatory Compliance

Coromandel International has informed both the National Stock Exchange of India Limited and BSE Limited about this allotment in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company secretary and compliance officer B. Shanmugasundaram signed the regulatory filing, ensuring proper documentation and transparency in the allotment process.

The ESOP allotment represents the company's ongoing efforts to align employee interests with shareholder value creation through equity participation programs.

Coromandel International delivered a strong financial performance in Q3 FY26 despite challenging market conditions, with consolidated revenue growing 26% year-on-year to INR8,863 crores. The company's diversified business portfolio demonstrated resilience, with the Crop Protection segment leading growth momentum.

Financial Performance Overview

The company reported comprehensive financial results across key metrics for the quarter and nine-month period:

For the nine-month period ending December 2025, total income reached INR25,759 crores, marking 33% growth. The subsidy business maintained its dominant position, accounting for 82% of revenue for both the quarter and nine-month period.

Crop Protection Business Delivers Strong Growth

The Crop Protection and Bio business segment emerged as the star performer, reporting standalone revenue of INR785 crores with 24% growth. EBIT expanded dramatically by 74% to INR158 crores, driving margins from 14% to 20%.

The export segment benefited from strong demand for key molecules, particularly Mancozeb, with the company expanding capacity by 20% and planning an additional 30% expansion. New product sales contributed 25% of revenue on a year-to-date basis, reflecting successful portfolio diversification.

Fertilizer Business Navigates Headwinds

The fertilizer division faced significant challenges from rising raw material costs and currency depreciation. Despite these headwinds, the business achieved record quarterly production of 9.9 lakh tons, representing 18% growth over the previous year.

Key raw material prices experienced significant volatility during the quarter. Sulphur prices surged to $550 per ton, while phosphoric acid prices increased from $1,250 to $1,290. The company implemented price corrections of 3-4% on key grades to offset input cost pressures.

Operational Highlights and Strategic Initiatives

Coromandel continued expanding its operational footprint across business segments. The retail business added 84 new stores in Q3, bringing the total count to 1,113 stores with 20% year-on-year growth. The company's backward integration projects at Kakinada for sulfuric acid and phosphoric acid production are progressing on schedule for commissioning in the current quarter.

The Senegal mining operation has stabilized and become the largest rock phosphate exporter from the country, targeting annual production of 3.5 lakh tons. The Nano products business achieved 68% growth with over 4,000 KL marketed in the nine-month period, establishing market leadership in Nano DAP.

Subsidiary Performance and Integration

NACL Industries, the recently acquired subsidiary, showed improvement despite challenging market conditions. The company successfully completed a rights issue to retire high-cost debt and improve operational efficiency. Management indicated that integration synergies are being actively pursued across R&D, manufacturing, and marketing functions.

The Board approved an interim dividend of INR9 per equity share, representing 900% on the face value of INR1. Subsidy collections remained robust at INR2,571 crores for the quarter, with outstanding subsidies at INR3,785 crores as of December 2025.