Phosphate fertiliser maker Coromandel International Ltd on Friday (November 6) reported a 33.7% year-on-year decline in net profit to ₹534.2 crore for the second quarter of FY27, compared with ₹805.3 crore in the corresponding period last year.
Revenue from operations rose 6.7% to ₹10,294 crore from ₹9,651 crore in the year-ago quarter.
Earnings before interest, tax, depreciation and amortisation (EBITDA) declined 17.8% year-on-year to ₹942 crore from ₹1,146 crore. The EBITDA margin contracted by 270 basis points to 9.2% from 11.9% in the corresponding quarter last year.
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The company has approved the reappointment of Sudarshan Venu as an Independent Director for a second term of five years, from February 3, 2027, to February 2, 2032, subject to shareholder approval through a postal ballot by way of a special resolution. The reappointment was approved by the company’s Board of Directors based on the recommendation of the Nomination and Remuneration Committee.
Venu is the Chairman of TVS Motor Company, Managing Director of TVS Holdings Ltd and Chairman of TVS Credit Services Ltd. He holds a graduate degree with honours in the Jerome Fisher Program in Management and Technology from the University of Pennsylvania, a Master of Science in International Technology Management from the University of Warwick, a Bachelor of Science in Mechanical Engineering and a Bachelor of Science in Economics from the Wharton School.
The company also informed that the conversion of a loan worth $9.70 million into equity in Baobab Mining and Chemicals Corporation SA (BMCC), a step-down subsidiary held through its wholly owned subsidiary Coromandel Chemicals Ltd (CCL), has been completed. The conversion involved the issuance of 1,11,355 equity shares at $87.11 per share. Coromandel International, through Coromandel Chemicals, holds a 71.51% equity stake in BMCC.
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The transaction was approved by the company’s Audit Committee and Board at their meetings held on July 23, 2026, and was undertaken on an arm’s-length basis. Coromandel Chemicals is a wholly owned subsidiary of Coromandel International, while BMCC is its step-down subsidiary.
Shares of Coromandel International Ltd ended at ₹1,825.40, down by ₹82.05, or 4.30%, on the BSE.