Coromandel International Limited , a leading player in the Indian fertilizer and crop protection market, has reported strong financial results for the second quarter, showcasing significant growth across key metrics.

Financial Highlights

The company's performance for Q2 demonstrates substantial year-over-year improvements:

While the company has shown impressive top-line and bottom-line growth, it's worth noting that the EBITDA margin saw a slight decline to 11.88% from 13.11% in the previous year.

Segment Performance

Coromandel International operates in two primary business segments:

1. Nutrient and Other Allied Business: This segment reported revenue of ₹8,660.87 crore for the quarter, up from ₹6,750.28 crore in the same quarter last year.

2. Crop Protection: The segment saw revenues increase to ₹1,068.88 crore, compared to ₹751.13 crore in Q2 FY2024-25.

Balance Sheet Strength

The company's balance sheet remains robust:

• Total assets stood at ₹24,735.99 crore as of September 30, 2025, up from ₹18,927.62 crore at the end of the previous fiscal year.
• The equity attributable to owners of the company increased to ₹12,178.73 crore from ₹11,087.83 crore.

Strategic Developments

Coromandel International has made significant strategic moves during the quarter:

1. Acquisition of NACL Industries: The company acquired a 53.08% stake in NACL Industries Limited, enhancing its position in the crop protection segment.

2. Expansion Plans: The board approved sending a postal ballot notice to shareholders for re-appointing Mr. Arun Alagappan as Executive Chairman for a five-year term starting February 15, 2026.

3. Financial Support for Subsidiaries: The company plans to issue a Letter of Comfort of up to ₹550.00 crore for loans to NACL Industries Limited and its subsidiaries, aiming to secure enhanced credit ratings and more competitive interest rates.

Outlook

With strong Q2 results and strategic acquisitions, Coromandel International appears well-positioned for continued growth in the agrochemical sector. The company's focus on both nutrient business and crop protection segments, coupled with its expansion strategies, may contribute to its market leadership in the coming quarters.

Investors and market watchers will likely keep a close eye on how the company leverages its recent acquisition and manages its margins in the face of growing revenues.

Note: All figures are in Indian Rupees (₹) and 1 crore = 10 million.

Coromandel International , a leading agri-solutions provider, has taken steps to reclassify two entities from its 'Promoter group' category to non-promoter status. The company has applied to both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) for their no-objection to this reclassification.

Entities Involved

The two entities in question are:

1. Coromandel Engineering Company Limited (CECL)
2. Yanmar Coromandel Agrisolutions Private Limited (YCAS)

Current Shareholding

According to the application submitted by Coromandel International, both CECL and YCAS currently hold zero equity shares in the company. This lack of shareholding appears to be a key factor in the company's decision to seek reclassification.

Application Timeline

The company has been in communication with the stock exchanges regarding this matter. The timeline of events is as follows:

• August 30: Initial communication
• September 17: Follow-up communication
• September 22: Additional communication
• September 26: Formal application submitted

Regulatory Context

Coromandel International is seeking this reclassification under Regulation 31A of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations. This regulation provides guidelines for the reclassification of promoter/promoter group entities.

Company's Statement

In its application to the stock exchanges, Coromandel International stated, "We wish to inform you that the Company has today, September 26, made an application seeking a 'no-objection' from the Stock Exchanges (National Stock Exchange of India Limited and BSE Limited) for re-classification of the below named Outgoing Persons from 'Promoter group' category, in accordance with Regulation 31A of the Listing Regulations."

Next Steps

The reclassification process will now depend on the response from NSE and BSE. If approved, CECL and YCAS will no longer be considered part of Coromandel International's promoter group, potentially simplifying the company's shareholding structure.

Investors and market watchers will be keen to see how this reclassification, if approved, might impact Coromandel International's corporate governance and ownership structure going forward.