Revenue and Profitability Trends
Coromandel Inter’s net sales have exhibited notable fluctuations, peaking at ₹29,628 crore in March 2023 before moderating to ₹24,085 crore in March 2025. Despite this dip from the peak, the company’s sales in the latest fiscal year remain significantly higher than the ₹13,225 crore recorded in March 2019, reflecting a strong growth trajectory over the six-year period. Total operating income mirrors this pattern, as other operating income remained nil throughout.
Operating profit before depreciation and interest (PBDIT) excluding other income rose from ₹1,443 crore in 2019 to ₹2,628 crore in 2025, underscoring improved operational efficiency. Including other income, operating profit reached nearly ₹2,987 crore in the latest year. The operating profit margin has hovered around 10.9% in recent years, slightly below the 13.99% margin seen in 2021 but showing resilience amid market fluctuations.
Profit before tax increased from ₹1,092 crore in 2019 to ₹2,781 crore in 2025, with profit after tax following a similar upward trend, reaching ₹2,108 crore in the latest fiscal year. The consolidated net profit rose from ₹720 crore in 2019 to over ₹2,066 crore in 2025, reflecting a compound improvement in bottom-line performance. Earnings per share (EPS) correspondingly improved from ₹24.63 to ₹70.14 over the same period, signalling enhanced shareholder value.
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Cost Structure and Margins
The company’s raw material costs have scaled in line with revenue, reaching ₹12,912 crore in 2025 from ₹7,965 crore in 2019. Purchase of finished goods also increased, reflecting expanded operations. Employee costs rose steadily, indicating investment in human capital, while selling and distribution expenses grew from ₹1,033 crore in 2022 to ₹1,343 crore in 2025. Other expenses similarly increased, consistent with business expansion.
Despite rising costs, Coromandel Inter maintained a gross profit margin of 12.75% in 2025, up from 9.12% in 2019, demonstrating effective cost management. The profit after tax margin stood at 8.53% in 2025, a healthy level compared to 5.45% in 2019, though slightly lower than the peak margin of 9.37% in 2021.
Balance Sheet and Financial Position
Coromandel Inter’s total assets have expanded significantly, from ₹8,896 crore in 2021 to ₹18,917 crore in 2025, reflecting capital investments and growth initiatives. Shareholder’s funds increased from ₹5,151 crore in 2021 to ₹11,088 crore in 2025, supported by rising reserves. The book value per share improved from ₹175.55 in 2021 to ₹376.37 in 2025, indicating enhanced net worth per share.
The company’s debt profile remains conservative, with total debt rising modestly to ₹232 crore in 2025 from negligible levels in prior years, a marked improvement from the high short-term borrowings of ₹1,625 crore in 2020. This reduction in leverage enhances financial stability and flexibility.
Current assets have grown robustly, reaching ₹13,231 crore in 2025, with cash and bank balances increasing substantially to ₹3,538 crore, up from ₹78 crore in 2020. Inventories and sundry debtors have also increased in line with business scale, while net current assets improved to ₹6,240 crore in 2025, supporting operational liquidity.
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Cash Flow and Operational Efficiency
Cash flow from operating activities has shown a positive trend, rising from ₹1,861 crore in 2020 to ₹2,463 crore in 2025, reflecting strong cash generation capacity. However, cash flow from investing activities has been negative in recent years, reaching -₹2,637 crore in 2025, indicative of ongoing capital expenditure and expansion efforts.
Financing activities have consistently seen outflows, with ₹697 crore utilised in 2025, signalling debt repayments and shareholder returns. The net cash inflow/outflow has been negative in the latest two years, with -₹871 crore in 2025, but the company maintains a healthy closing cash balance of ₹254 crore, supported by strong operational cash flows.
Overall, Coromandel Inter’s historical performance reflects a company that has grown substantially in scale and profitability while maintaining prudent financial management. The steady improvement in earnings, margins, and balance sheet strength positions it well for future growth opportunities.
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