Coromandel International gains after restarting Ennore plant post Chennai floods

Coromandel International rose 1.03% to Rs 185.35 at 15:20 IST on BSE after its complex fertiliser manufacturing unit at Ennore in Tamil Nadu resumed operations today, 14 December 2015, after remaining shut due to flooding in Chennai.

The announcement was made during market hours today, 14 December 2015.

Meanwhile, the S&P BSE Sensex was up 103.59 points or 0.41% at 25,148.02.

On BSE, so far 2,639 shares were traded in the counter as against average daily volume of 43,473 shares in the past one quarter.

The stock hit high of Rs 186.95 and low of Rs 183 so far during the day. The stock had hit a 52-week high of Rs 327 on 11 December 2014. The stock had hit a 52-week low of Rs 150.80 on 30 September 2015.

The mid-cap company has equity capital of Rs 29.13 crore. Face value per share is Rs 1.

Coromandel International had announced on 4 December 2015, that its complex fertiliser manufacturing unit at Ennore in Tamil Nadu was shut down due to flooding in and around the plant after heavy rainfall and resulting flooding in Chennai. Disruption of operations at its Ennore unit for a short period is not likely to have any significant impact on its turnover or profit, Coromandel International had said at that time. The company has adequate insurance cover against any natural calamities, it had added.

On consolidated basis, Coromandel International's net profit fell 3.6% to Rs 173.47 crore on 2.8% growth in net sales to Rs 3552.38 crore in Q2 September 2015 over Q2 September 2014.

Coromandel International is a phosphatic fertilizer player. The company operates in business segments of fertilizers, specialty nutrients, crop protection and retail.

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