The company announced Q4 results during trading hours today, 23 April 2013.
Meanwhile, the S&P BSE Sensex was down 5.59 points or 0.03% at 19,164.24.
On BSE, 46,477 shares were traded in the counter as against average daily volume of 5,799 shares in the past two weeks.
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Coromandel International's consolidated net profit fell 32.37% to Rs 431.99 crore on 8.76% decline in total income from operations to Rs 9033.72 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).
The consolidated results for Q4 March 2013 and FY 2013 include consolidated results of Sabero Organics Gujarat and its subsidiaries, consolidated results of Liberty Phosphate (LPL) and its subsidiary, the results of Liberty Urvarak (LUL), Parry Chemicals, Dare Investments, CFL Mauritius, Coromandel Brasil Limitada, wholly-owned subsidiaries and, Tunisian Indian Fertilizers SA (TIFERT), Coromandel Getax Phosphates Pte and Coromandel SQM (India), joint venture (JV) companies. In respect of TIFERT, as financials for FY 2013 are not available, un-audited financial results upto 31 December 2012 have been considered, Coromandel International said.
There was nil other income relating to dividend received from a subsidiary in Q4 March 2013 and FY 2013 as dividend of Rs 44.83 crore in Q4 March 2012 and FY 2012, Coromandel International said.
During the quarter (Q4 March 2013), the company has entered into a share purchase agreement to acquire 59.28 lakh equity shares in Andhra Pradesh Gas Power Corporation (APGPCL). These shares have been transferred in the name of the company subsequent to the year-end, Coromandel International said.
Consequent to the share purchase agreement entered into by the company on 24 January 2013 with the shareholders of LUL, the company has acquired 100% equity shares of LUL, which has become its subsidiary with effect from 20 March 2013. LUL holds 5% equity shares of LPL and consequent to LUL becoming wholly owned subsidiary of the company, the company along with LUL now holds 53.62% equity shares of LPL, Coromandel International said.
During the quarter, the company has also signed a term sheet with Tungabhadra Fertilizers and Chemicals (TFCCL) for acquiring the business on a slump sale basis.
During the quarter, the company commissioned its third complex fertiliser plant (C-Train) at Kakinada and has commenced production of phosphatic fertilisers.
Coromandel International's board of directors at a meeting held today, 23 April 2013, recommended a dividend of Rs 4.50 per share for FY 2013.
Coromandel International is in the business segments of fertilisers, speciality nutrients, crop protection and retail.
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