We are fast approaching harvest 22 and looking now to harvest 23 for cropping decisions, but the cost and margin picture looks very different to this time last year. UK feed wheat new crop futures (Nov-22) closed yesterday at £340.10/t. This is almost double the price from this time last year, where new crop futures (Nov-21) closed at £178.75/t (18 May 2021).
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Coromandel International lost 1.18% to Rs 724.70 after the company s consolidated net profit tanked 33.5% to Rs 155.85 crore on 0.5% decline in net sales to Rs 2,855.97 crore in Q4 FY21 over Q4 FY20.
On a consolidated basis, profit before depreciation, interest, taxes and exceptional item (EBITDA) for the quarter ended 31 March 2021 stood at Rs 261 crore as against Rs 391 crore during the corresponding quarter last year, dropping 33.24% Y-o-Y (year-on-year).
For the year ended 31 March 2021, the company s consolidated total income stood at Rs 14,257 crore over Rs 13,177 crore earned last year, registering a 8.19% Y-o-Y increase. EBITDA was at Rs 2,021 crore, recording a growth of 17% Y-o-Y compared with Rs 1,732 crores last year. Profit after tax stood at Rs 1,329 crore from Rs 1,065 crore, registering a growth of 25% Y-o-Y.
Coromandel Q4 net profit falls at ₹156 cr
April 29, 2021
PAT for 2020-21 up at ₹1,329 crore
Coromandel International, a manufacturer of fertilisers, crop protection and other agri inputs, has posted a lower net profit of ₹156 crore in the fourth quarter ended March 31, 2021, against ₹234 crore in the comparable quarter last year.
The Murugappa group company reported a consolidated total income of ₹2,872 crore (₹2,881 crore).
For the full year, however, the company reported a higher consolidated net profit of ₹1,329 crore against ₹1,065 crore in the previous year. It reported a consolidated total income of ₹14,257 crore (₹13,177 crore).
Sameer Goel, Managing Director of Coromandel International Limited, has said that 2020-21 was a ‘black swan event’ (unpredictable), with businesses across the world and in India getting disrupted due to the Covid pandemic.