COROMANDEL

Sept 22 (Reuters) - Coromandel International Ltd CORF.NS:

• APPROVED SETTING UP OF TMAP PLANT AT VISAKHAPATNAM

Source text: ID:nBSEGklnZ

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** Shares of Coromandel International CORF.NS rise 3.7% to 2,417.10 rupees

** Fertilizers maker's Q1 consol net profit rises 62.4% Y/Y to 5.05 bln rupees ($58.5 mln); revenue jumps 48.9% Y/Y

** CORF to buy 17.69% additional stake in Baobab Mining and Chemicals Corp for $7.70 mln

** Co to invest 1.37 bln rupees for setting up bagging plant at Kakinada

** Trading vols at 695,000 shares, 1.2x the 30-day average

** CORF up ~29% YTD

($1 = 86.3510 Indian rupees)

(Reporting by Vijay Malkar)

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** Shares of agri-chemicals makers Coromandel International CORF.NS and NACL Industries NACL.NS up 3% and 5%, respectively

** Competition Commission of India approves CORF's acquisition of a 53% stake in NACL

** NACL has risen more than 3x since announcement of deal on March 12; CORF up 31%

** NACL up 3.8x YTD, CORF up 23%

(Reporting by Aleef Jahan in Bengaluru)

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July 1 (Reuters) - Coromandel International Ltd CORF.NS:

• INDIA'S COMPETITION REGULATOR: APPROVES ACQUISITION OF SHARES IN NACL INDUSTRIES BY COROMANDEL INTERNATIONAL

Source text: [ID:]

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April 30 (Reuters) - Coromandel International Ltd CORF.NS:

• COROMANDEL INTERNATIONAL LTD - FINAL DIVIDEND OF 6 RUPEES PER EQUITY SHARE

• COROMANDEL INTERNATIONAL LTD - SPECIAL DIVIDEND OF 3 RUPEES PER EQUITY SHARE

Source text: ID:nBSE3jJXVd

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April 9 (Reuters) - Coromandel International Ltd CORF.NS:

• COROMANDEL INTERNATIONAL LTD - CO AND MA'ADEN SIGN MOU TO PARTNER FOR PHOSPHATIC FERTILISERS

• COROMANDEL INTERNATIONAL - MOU WITH MA'ADEN FOR SUPPLY OF DI-AMMONIUM PHOSPHATE, NP/NPK FERTILISERS

Source text: [ID:]

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** Shares of NACL Industries NACL.NS rise 12% to 89.13 rupees, set to gain for a third straight session, if current trend holds

** Coromandel International CORF.NS to acquire 53.13% stake in NACL from promoters

** CORF also made an open offer to acquire up to 26% stake in NACL from public shareholders

** Stake acquisition at 76.70 rupees per share, discount of 3.6% to stock's previous close

** NACL trading vols at 7.6 mln shares, over 12x the 30-day average

** NACL stock up ~33% YTD vs a 9.2% fall in 2024

(Reporting by Vijay Malkar)

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March 12 (Reuters) - Coromandel International Ltd CORF.NS:

• COROMANDEL INTERNATIONAL LTD - APPROVES ACQUISITION OF 53.13% STAKE IN NACL INDUSTRIES

• COROMANDEL INTERNATIONAL LTD - ACQUISITION PRICE SET AT 76.70 RUPEES PER SHARE

Source text: ID:nBSE2gqmJV

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Feb 11 (Reuters) - Coromandel International Ltd CORF.NS:

• GOVERNMENT OF ANDHRA PRADESH EXTENDS SUBSIDIES FOR 15.39 BILLION RUPEES INVESTMENT

• ANDHRA PRADESH EXTENDS 45% INCENTIVE ON FIXED CAPITAL INVESTMENT

Source text: ID:nBSEbByrWZ

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Jan 30 (Reuters) - Coromandel International Ltd CORF.NS:

• COROMANDEL INTERNATIONAL LTD - DIVIDEND 6 RUPEES PER SHARE

• COROMANDEL INTERNATIONAL Q3 CONSOL NET PAT 5.12 BILLION RUPEES

• COROMANDEL INTERNATIONAL Q3 CONSOL REVENUE FROM OPERATIONS 69.35 BILLION RUPEES

Source text: ID:nBSEhn91B

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Jan 20 (Reuters) - Coromandel International Ltd CORF.NS:

• UNVEILS ADVANCED SOIL AND LEAF TESTING LAB IN KAKINADA

Source text: ID:nNSE2dmGRQ

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Dec 17 (Reuters) - Coromandel International Ltd CORF.NS:

• PARTNERS WITH MAHINDRA KRISH-E PARTNER FOR DRONE SPRAYING SERVICES

Source text: ID:nBSE30Ts2K

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** Coromandel International CORF.NS falls as much as 4.9% to 1,560.30 rupees

** Agricultural chemicals maker posts 12.3% drop in Q2 consolidated PAT y/y

** Rev from ops rose 6.4%, but was outdone by 9.3% rise in total expenses on higher costs of raw materials

** Trading vol same as the 30-day avg of 369,281 shares

** Stock rated "buy" on avg; median PT is 1,904 rupees - LSEG

** CORF last down 3.3%, trimming YTD gains to 26.7%

(Reporting by Ashish Chandra in Bengaluru)

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Oct 24 (Reuters) - Coromandel International Ltd CORF.NS:

• COROMANDEL INTERNATIONAL Q2 CONSOL NET PAT 6.64 BILLION RUPEES

• COROMANDEL INTERNATIONAL Q2 CONSOL REVENUE FROM OPERATIONS 74.33 BILLION RUPEES

Source text for Eikon: [ID:]

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Sept 25 (Reuters) - Coromandel International Ltd CORF.NS:

• BUYS 8.82% STAKE IN BAOBAB MINING AND CHEMICALS CORP

• ACQUISITION AT CONSIDERATION OF $3.84 MLN

• APPROVES EXTENSION OF LOAN TO BAOBAB MINING UP TO USD 6.50 MLN

Source text for Eikon: ID:nNSE3jcB2F

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Aug 15 (Reuters) - Coromandel International Ltd CORF.NS:

• COROMANDEL INTERNATIONAL - TNPCB GRANTED PERMISSION TO RESUME OPERATION OF ENNORE UNITS

Source text for Eikon: ID:nNSE6jwjwQ

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Aug 7 (Reuters) - Coromandel International Ltd CORF.NS:

• COROMANDEL INTERNATIONAL Q1 CONSOL NET PAT 3.11 BILLION RUPEES

• COROMANDEL INTERNATIONAL Q1 CONSOL REVENUE FROM OPERATIONS 47.29 BILLION RUPEES

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July 18 (Reuters) - Coromandel International Ltd CORF.NS:

• TO SUBSCRIBE SHARES IN COROMANDEL CROP PROTECTION PHILIPPINES

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June 17 (Reuters) - Coromandel International Ltd CORF.NS:

• COROMANDEL INTERNATIONAL LTD - ICAR-NBSS&LUP SIGNS MOU WITH COROMANDEL INTERNATIONAL

Source text for Eikon: ID:nBSE8X7pX9

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** Shares of Coromandel International CORF.NS up 3.3% at a record high of 1,438.2 rupees

** Agro-chemical co says it commissioned a nano fertilizer plant in its existing Kakinada complex with capacity of 2 million metric tonnes

** Trading volume over 730,000 shares, 1.6x the 30-day avg

** Analysts' rating on stock is "buy", in-line peers UPL UPLL.NS and Sumitomo Chemical SUMH.NS - LSEG data

** Including session's gains, stock up ~15% YTD vs ~12% rise in the Nifty 500 index .NIFTY500

(Reporting by Manvi Pant in Bengaluru)

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** Shares of India's Coromandel International CORF.NS up as much as 3.4% to hit record high, last up 2.6%

** Fertiliser maker unveils 10 new crop production products

** Stock on track to snap four-session-run of losses, if trends hold

** Trading vols at 1.5x the 30-day avg

** CORF rated "buy" on average with median PT of 1,280 rupees - LSEG data

** YTD, stock up 0.8%

(Reporting by Hritam Mukherjee in Bengaluru)

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BENGALURU, May 13 (Reuters) - Agrochemicals maker UPL UPLL.NS reported a surprise quarterly profit on Monday as revenue fell less than expected amid inventory destocking, sending its shares up 6.4%.

The herbicide and insecticide maker said revenue from operations fell about 15% to 140.78 billion rupees, marking its fourth straight quarter of decline due to inventory destocking and soft demand, but beat Street expectations of 122.39 billion rupees, according to LSEG data.

Volumes recovered compared to the third quarter, largely led by strong sales of the company's high-margin sustainable agriculture portfolio, which contributed to 36% of its crop protection revenue versus 29% last year, UPL said.

That helped UPL post a net profit of 400 million rupees ($4.8 million) for the quarter ended March 31, compared with analysts' expectations of a loss of 3.33 billion rupees. The company reported a profit of 7.92 billion rupees a year ago.

UPL said it expects 4%-8% growth in revenue in fiscal 2025 and earnings before interest, tax, depreciation and amortization (EBITDA) growth of more than 50% for the period.

Agrochemical and fertilizer companies in India, including Coromandel International CORF.NS and SRF SRFL.NS, faced a lackluster fourth quarter, largely due to destocking of inventory - the process of emptying out excess inventory levels following low demand.

Water shortages in southern India also contributed to the overall lack of demand.

"We expect a return to growth and normalization in margins driven by the agchem market returning to normality in fiscal 2025," said Mike Frank, chief executive of UPL Corporation, UPL's Mauritius-based unit.

Analysts are optimistic about the fiscal 2025 outlook for domestic agri-input firms on expectations of a better monsoon and higher nutrient-based subsidy - a government programme that subsidises fertilisers depending on their nutrient content - in the first half of 2025.

($1 = 83.5061 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru; Editing by Janane Venkatraman and Sonia Cheema )

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BENGALURU, May 7 (Reuters) - Indian chemicals and polymers maker SRF SRFL.NS posted a drop in profit for the fifth quarter in a row on Tuesday, hurt by sustained weak demand in its mainstay chemicals business.

SRF's chemical business, which consists of specialty chemicals, fluorochemicals and agrochemicals among others, contributes half the company's quarterly revenue.

WHY IT'S IMPORTANT

The chemical industry has been grappling with high inventory and destocking for the past few quarters, leading to continuous pressure on volume and margins, according to analysts.

SRF said that besides inventory rationalization, prices were also under pressure due to low-priced products from China. It said its fluorochemicals business was hit by China's dumping of refrigerants in India and the international markets.

Peer Coromandel International CORF.NS also reported a lower fourth-quarter profit due to subdued demand for its fertilizer and nutrient chemicals.

BY THE NUMBERS

SRF's consolidated net profit fell nearly 25% to 4.22 billion rupees ($50.6 million) in the quarter ended March 31.

Revenue from operations fell 5.5% to 35.7 billion rupees, with revenue from its chemical business segment sliding 13.6%.

KEY QUOTES

"We have seen a reasonable recovery in our chemicals business in the fourth quarter ... (we) believe that this recovery will pick up pace in the second half of fiscal 2025," Ashish Bharat Ram, chairman and managing director, said.

GRAPHIC

($1 = 83.4770 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Savio D'Souza)

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March 13 (Reuters) - Coromandel International Ltd CORF.NS:

• RECEIVED DIRECTION FROM TAMIL NADU POLLUTION CONTROL BOARD

• DIRECTION TO REMIT ENVIRONMENTAL COMPENSATION AMOUNT

• DIRECTION TO REMIT AN AMOUNT 59.3 MILLION RUPEES

Source text for Eikon: ID:nNSE9Fm1YW

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Feb 7 (Reuters) - Coromandel International Ltd CORF.NS:

• RECEIVED NOTICE FROM THE ASSISTANT CONTROLLER, LEGAL METROLOGY ANDHRA PRADESH

• NOTICE FOR PAYMENT OF COMPOUNDING FEES

Source text for Eikon: ID:nBSE4MHN0k

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Jan 30 (Reuters) - Coromandel International Ltd CORF.NS:

• Q3 CONSOL NET PAT 2.31 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 54.64 BILLION RUPEES

• YEAR AGO Q3 CONSOL NET PAT 5.27 BILLION RUPEES, REVENUE 83.1 BILLION RUPEES

Source text for Eikon: ID:nBSEc4HhG3

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Dec 28 (Reuters) - Coromandel International Ltd CORF.NS:

• GOT DIRECTIONS FROM TAMIL NADU POLLUTION CONTROL BOARD

• PRODUCTION AT ENNORE UNIT IS ABOUT 10% OF THE MONTHLY PRODUCTION VOLUME

• DOES NOT ANTICIPATE ANY MATERIAL IMPACT ON ITS OPERATIONS

• SHALL RESTART AMMONIUM PHOSPHATE POTASH SULPHATE PLANT, ALLIED UNITS AFTER ENSURING AMMONIA PIPELINE IS INTACT, SAFE

• SHALL OBTAIN NOC FROM DIRECTORATE OF INDUSTRIAL SAFETY AND HEALTH

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Updates hospitalisation number, changes source in lead and third paragraph, adds details about another explosion in paragraph 10

By Praveen Paramasivam and Nandan Mandayam

CHENNAI/BENGALURU, Dec 27 (Reuters) - About 60 people have been hospitalised after an ammonia leak from a pipeline belonging to India's Coromandel International CORF.NS near its Ennore plant in Chennai, Tamil Nadu, the government said.

The people were hospitalised after they had difficulty in breathing and a burning sensation in the eyes, and 52 people are still under observation, the government said in a statement.

The leak took place when Coromandel's fertiliser manufacturing unit was preparing to receive an ammonia shipment through its 2.5 kilometre-long (1.5 mile) undersea pipeline.

"The unit observed pressure drop in the pipeline at around 11.45 pm and simultaneously observed pungent odour around the storage terminal and near the material gate," the statement said.

"They will identify the exact location and the extent of pipeline damage within a day and will rectify the same before commencing the ammonia transfer."

Coromandel's shares dropped as much as 3.7% on Wednesday, before closing 1.6% lower.

"All are safe and normalcy is restored. We have informed relevant authorities about the incident," Coromandel said in an exchange filing earlier in the day.

The incident comes weeks after an oil spill in the same area from a refinery belonging to Indian Oil-owned IOC.NS Chennai Petroleum Corp CHPC.NS during Cyclone Michaung.

Separately, one worker was killed and another was injured in an explosion at state-run refiner Indian Oil Corp's (IOC) IOC.NS plant in Chennai on Wednesday.

(Reporting by Nandan Mandayam in Bengaluru and Praveen Paramasivam in Chennai; Editing by Sohini Goswami and Devika Syamnath)

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Oct 26 (Reuters) - Coromandel International Ltd CORF.NS:

• Q2 CONSOL NET PAT 7.57 BILLION RUPEES; REFINITIV IBES EST. 7.59 BILLION RUPEES

• Q2 CONSOL REVENUE FROM OPERATIONS 69.88 BILLION RUPEES

• YEAR AGO Q2 CONSOL PROFIT 7.41 BILLION RUPEES, REVENUE 101.13 BILLION RUPEES

Source text for Eikon: ID:nBSE7Vvbyd

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Oct 18 (Reuters) - Coromandel International Ltd CORF.NS:

• COMMISSIONED ITS SULPHURIC ACID PLANT

• PLANT SET UP WITH INVESTMENT OF 4 BILLION RUPEES

Source text for Eikon: ID:nBSE7xGdFC

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