Rising with Resilience Coromandel International Limited Annual Report 2020-21 Corporate Overview Management Reports Financial Statements WHAT INSIDE RISING WITH Corporate Overview RESILIENCE Rising With Resilience | 01 We are Coromandel | 02 Performance through the years | 08 As the world encountered the unprecedented health challenges Transforming to next gen agriculture company | 10 and economic slowdown due to the COVID 19 pandemic, We, at Coromandel, displayed exceptional resilience to swiftly A Spirited Performance | 12 transform ourselves and continue our growth trajectory. It is Managing Director’s Interactive Q&A | 15 this resilient nature of ours backed by our rich legacy and strong Board of Directors | 18 commitment that has enabled us to rise in these challenging times. Faster Adoption: Smart Crop Solutions | 22 Riding the Digital Wave: Reaching Customers | 24 We were quick to embrace technology to overcome the Nurturing Communities, Changing Lives | 30 resource limitations and drive the agenda of Smart Farming. Digital became our biggest enabler as we empowered our Awards and Recognitions | 33 people, processes and stakeholders, leading to improved overall Corporate Information | 34 performance. We continued to prioritize the safety and well-being of our Management Reports employees and operated with desired caution and compliance Management Discussion and Analysis | 35 during the pandemic year. This ensured safe work environment and continuance of our operations for most part of the year, Notice of the Annual General Meeting | 53 enabled availability of agri inputs and services to the farming Board’s Report | 66 community. Corporate Governance Report | 94 We rose to support our nearby communities and Government Business Responsibility Report | 115 agencies by assisting in the areas of COVID awareness & relief, health, education and community development. Financial Statements Standalone | 134 Consolidated | 200 Our Farmer’s indomitable spirit drives us everyday and strengthens our resilience to rise above the Forward-looking Statements challenges. Statements in the Annual Report detailing the Company’s objectives, projections, estimates, expectations or predictions may be forward- looking statements within the meaning of applicable securities laws and regulations. Since these statements are based on certain assumptions and expectations of future events, the actual results could differ materially from those expressed or implied. The important factors that could make a difference to the Company’s operations include the economic conditions affecting the domestic demand-supply conditions, prices of finished goods, the changes in government regulations because of the tax regime, etc. The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements on the basis of subsequent developments, information or events. Annual Report 2020-21 01 Corporate Overview Management Reports Financial Statements WE ARE COROMANDEL Our Vision To be the leaders in Farm Solutions business in the geography of choice, consistently delivering superior value to stakeholders through highly engaged employees, with a strong commitment towards sustainability and our values. Our Mission To enhance the prosperity of farmers through quality farm solutions with sustainable value for all stakeholders. An integrated agri solutions provider Coromandel International Limited, part of Crop Protection, Bio pesticide, Specialty world. We are the leading marketer of Telangana, Karnataka and Maharashtra, and evolving as a complete agri solutions Crop Protection products, which are `381 billion (`38,105 crores) Murugappa Nutrient and Organic fertilizer. Organic fertiliser in India and offer rich our retail outlets offers agri input provider. In line with our strategy, we marketed through an extensive network Group, is one of India’s first and leading portfolio of Bio Pesticide solutions. products and farming services including have been strengthening our R&D and of dealers and our retail centres. With Agri solutions provider, offering diverse We are the 2nd largest manufacturer and crop advisory, soil testing and farm product development setup to accelerate our value-added services, customized products and services across the farming marketer of Phosphatic fertiliser in India. Our Specialty Nutrients business focuses mechanization to over 3 million farmers. our innovation agenda and introduce crop solutions, direct farmer connect and value chain. Our business consists of Our Crop Protection Business offers on water soluble fertilizers, secondary new products and solutions. technology prowess, Coromandel is all two major segments: Nutrient and Crop wide range of Technical and Formulated and micro nutrients. With over 750+ rural At Coromandel International Limited, set to transform the Indian agriculture to Protection. We specialize in Fertiliser, products which are marketed across the retail outlets across Andhra Pradesh, we remain strategically focused on We have 16 manufacturing facilities, emerge smarter and connected. strengthening our position in the market producing wide range of Nutrient and 02 Coromandel International Limited Annual Report 2020-21 03 Corporate Overview Management Reports Financial Statements OUR BUSINESS SEGMENTS `142 billion Turnover (FY 2020-21) Fertiliser Crop Protection Specialty Nutrients • No. 1 NPK Player in India • 5th Largest Indian Agro • Market leader in Water • No.1 Single Super Chemical Player Soluble Fertiliser (WSF) and Phosphate (SSP) • Global presence across 80+ sulphur segment player in India Countries • Crop specific solution ` • 15.3% market share • 1000 + product registrations • Tie-ups with Drip Irrigation, AA+ 227 billion • Strong presence in South, • New products and Contract Farming and (Stable Outlook) East and West India combination focus Agri universities Crisil India Market Capitalisation • 4.5 MT Annual Capacity • 80,000+ tons manufacturing As on March 31, 2021 (NPK+SSP) capacity per annum • 39% Unique Grades • ~ 60+ brand based Product portfolio ~20,000+ Dealers Retail Organic Biologicals • India’s largest Agri • Largest Organic marketer in • Largest Azadirachtin retail chain India with annual sales of manufacturing facility 16 • Wide network of 750+ stores 1.7 lakh tons in the world Manufacturing Plants • One-stop-shop for • Wide range of products • 61% export share Agri requirements • Significant presence in • 3 million+ farmers direct US, Canada and Europe ~5000+ ~8000+ connect Employees Contract Employees 04 Coromandel International Limited Annual Report 2020-21 05 Corporate Overview Management Reports Financial Statements NEW PRODUCT LAUNCHES OUR PRESENCE World Coromandel: Global footprint & collaborations Marketing Strategic Investment Technology partnersips – Bio TIFERT – Phos acid partnership & Regional US, Canada, Europe venture in Tunisia Office, China Rock Phosphate FMS JV with Morocco, Yanmar Togo, Algeria Japan NPK Fertiliser Balanced Plant Nutrition CPC subs - Mali & Nigeria Strategic Investment Crop Protection for Phos acid sourcing– global subsidiaries Foskor South Africa Jammu India Crop Protection Molecule Speciality Nutrient Tembotrione Selective, post- Water Soluble Fertiliser for Flowers emergence broad spectrum Udaipur Brand: GROMOR POWER herbicide Vadodara 16:8:24 Brand: Lottery Kota Dahej Ankleshwar Nimrani Sarigam Vishakapatnam Kakinada Hospet Speciality Nutrient Organic Fertiliser Water Soluble Fertilizer Ranipet Ennore Organic Carbonfor Soil Health For Sugarcane Cuddalore Fertiliser Plants - Complexes Fertiliser Plants - SSP Crop Protection Plants 06 Coromandel International Limited AnnualAnnual Report Report 2020-21 2020-21 0707 Corporate Overview Management Reports Financial Statements PERFORMANCE Gross Revenue EBITDA THROUGH THE YEARS (` Crores) (` Crores) 2,001 13,155 14,205 13,240 1,726 11,168 1,450 10,239 1,305 1,036 (` Crores, unless otherwise stated) Year ended 31st March Particulars 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 Gross Revenue 14,205 13,155 13,240 11,168 10,239 11,690 11,341 9,442 8,627 9,940 EBITDA 2,001 1,726 1450 1305 1036 856 905 787 802 1142 Profit After Taxes Return on Capital Employed Total Assets 8,942 10,218 10,647 9,873 8,563 9,046 8,309 7,062 7,347 7,306 (` Crores) (%) Net Worth 5,200 4,389 3,434 2,927 2,812 2,503 2,165 2,233 2,176 2,371 1,312 32% 27% 1,059 PAT 1,312 1,059 714 685 477 358 403 345 444 693 21% 21% 18% EBIDTA margin (%) 14% 13% 11% 12% 10% 7% 8% 8% 9% 11% 685 714 477 Debt-equity Ratio 0.00 0.37 0.86 0.93 0.79 1.07 1.05 0.68 1.04 1.04 Book Value Per Share (`) 177 150 117 100 96 86 74 79 77 84 2017 2018 2019 2020 2021 Earnings per share (`) 45 36 24 23 16 12 14 12 16 25 2017 2018 2019 2020 2021 1. Financials from 2010-11 and till 2014-15 are presented as per Revised Schedule VI. 2. Financials from 2013-14 include erstwhile Liberty Phosphate Limited and erstwhile Liberty Urvarak Limited which merged CIL EPS Debt to Equity Ratio effective 1 April 2013. (` per share) 3. Financials for 2014-15 include erstwhile Sabero Organics Gujarat Limited which merged with Coromandel effective 1 April 2014. 44.8 0.93 0.86 0.79 4. Financials from 2015-16 onwards are presented as per Indian Accounting Standards (Ind AS). 36.2 5. Financials from 2017-18 include Bio-Pesticide operations. 23.4 24.4 16.4 0.37 0.00 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 08 Coromandel International Limited Annual Report 2020-21 09 Corporate Overview Management Reports