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Coromandel International share price is buzzing in trade today; here's why
At 10:15 AM, Coromandel International share price continued to trade higher, up 1.68 per cent at ₹2,310.05. In comparison, BSE Sensex was trading 0.38 per cent higher at 83,730.58 levels.
What triggered the up move in Coromandel International share price?
Coromandel International's share price rose after the Competition Commission of India (CCI) approved its proposal to acquire a majority stake in NACL Industries.
The acquisition plan, announced in March, involves Coromandel purchasing a 53 per cent stake in the agro-chemical company for ₹820 crore. The company also intends to launch an open offer for an additional 26 per cent stake, in line with Sebi's takeover regulations.
NACL Industries, a listed firm engaged in crop protection and agrochemicals, is expected to boost Coromandel International's product portfolio, enable faster product commercialisation, and expand its presence in contract manufacturing.
Coromandel International Q4 results
Coromandel International reported a 73 per cent year-on-year (Y-o-Y) jump in consolidated pre-tax profit for the fourth quarter, driven by robust demand.
For the quarter ended March 31, the fertiliser major posted a pre-tax profit of ₹384 crore, up from ₹222 crore in the same period last year.
Revenue from operations jumped 27.5 per cent to ₹4,988 crore, supported by a 28.2 per cent rise in revenue from its core fertiliser and nutrients segment. Track Stock Market LIVE Updates
About Coromandel International
Coromandel International is one of India's leading agri-solutions providers, with a strong presence in the fertiliser and crop protection sectors.
It is the second-largest manufacturer and marketer of phosphatic fertilisers in the country and a key player in organic fertilisers and bio-pesticides.
As part of the ₹77,800 crore Murugappa Group, Coromandel offers a comprehensive portfolio that spans fertilisers, crop protection products, specialty nutrients, and sustainable agri-solutions.
The company also operates one of the largest rural retail networks in India, with over 900 outlets across four southern states, providing farmers with agri-inputs and expert advisory services.
With a growing global footprint, Coromandel International is leveraging technology to drive innovation in agriculture, focusing on precision farming, automation, and environmentally responsible practices, earning recognition from bodies like the UNDP and TERI for its sustainability efforts.
The market capitalisation of Coromandel International is ₹68,066.29 crore, according to BSE. The company falls under the BSE 200 category.
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