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HDFC Securities Retail Research
Coromandel International Ltd. is the largest private sector phosphatic fertiliser manufacturer in India. Company is one of the biggest beneficiary in the complex fertiliser space in India with the implementation of the nutrient based subsidy scheme.
NBS will benefit the company in the long term by means reduction in working capital and lesser volatility in earnings, on the back of its raw material linkages, scale of operations and operational efficiencies.
The strategic partnerships of Coromandel with leading companies across the globe for raw materials, coupled with its high efficiency plants, have enabled it to be a cost leader in domestic complex fertilisers.
Coromandel is the second-largest player in the phosphatic fertiliser space with a market share of 17.9% in India as on FY22 (15.3% in FY21) and the largest single super phosphate player with a market share of 14%.
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