Coromandel International , an agri fertilisers and crop protection solutions provider from the Murugappa group, has registered a net profit (standalone) of ₹183 crore in the quarter ended March 31, 2022, as against ₹156 crore in the same quarter last year, showing a growth of 17 per cent.
The total income in the quarter stood at ₹4,294 crore as against ₹2,860 crore in the comparable quarter last year, showing a growth of 50 per cent.
For the financial year 2021-22, the company reported a net profit of ₹1,412 crore (₹1,313 crore) on a total income of ₹19,231 crore (₹14,231 crore).
“During the financial year 2021-22, the agricultural sector registered a strong performance with record food grain production and exports. This was helped by a third consecutive year of good monsoons leading to high crop sowings,” Sameer Goel, Managing Director of Coromandel International, said.
“We ensured ensured the timely availability of critical agri-inputs including fertilisers despite the tight raw material situation, leveraging its long-term contracts with the suppliers and backward integration,” he said in a statement on Friday.
He said the company embarked upon a digital transformation journey which would help in further improving efficiency by using real-time data and analytics in decision making across the value chain.
Outlook
The company said healthy reservoir levels, good soil moisture conditions and forecast of a normal-monsoon would augur well for the agri sector in the upcoming kharif season.
The Board has now recommended a final dividend of ₹6 a share for the financial year 2021-22. (It had declared an interim dividend of ₹6 a share in February 2022 and was paid to the shareholders in March 2022.)
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