Coromandel International hit a new 52-week high today morning at Rs.699.90 within minutes of opening at Rs.682.10. Though it has come off the high, it remains firmly in the green at Rs.672 levels currently.

The company, yesterday evening, posted a good set of earnings for Q4FY20.

The Company's consolidated total income increase by 9% during the quarter ended 31 March 2020. Total Income for the quarter is Rs. 2,881 crores in comparison to the corresponding quarter last year of Rs. 2,647 crores.

Profit before depreciation, interest, taxes and exceptional item (EBITDA) for the quarter ended 31 March 2020 has Increased by 51% to Rs. 391 crores vs. Rs. 259 crores during the corresponding quarter last year.

Consolidated net profit after tax for the quarter is Rs. 234 crores in comparison to Rs. 110 crores for the corresponding quarter last year an increase of 112%.

For the year ended 31 March 2020, the Company’s consolidated total income is Rs. 13,177 crores (PY Rs. 13,262 crores). Profit before depreciation, interest, taxes, and exceptional item (EBIDTA) is Rs. 1,732 crores registering a growth of 20% over PY Rs. 1,444 crores and profit after tax is Rs. 1065 crores (PY Rs. 720 crores) a growth of 48%.

Coromandel had a strong performance in FY 19-20, driven by Nutrient and allied businesses and a good recovery in crop protection business. The performance was further supported by external factors like above normal monsoon, good reservoir levels which resulted in improved sowing and agri input consumption in the Company's key markets.

Phosphatic fertiliser sales volumes for the year increased by 4% to 31.4 lakh tons while consumption increased by 12% to 31.6 lakh ton.

Crop Protection Business registered a growth of 11% in H2 of FY19-20 after soft H1 impacted by lower production from its Sarigam facility.

And the company is pretty optimistic about the months ahead too, saying, “the recent agricultural reforms announced by the Government, combined with good reservoir levels and forecast of a normal monsoon, we expect healthy agricultural growth in the upcoming Khariff season.”