Coromandel International rose 1.45% to Rs 889.40 after credit rating agency, CRISIL on 12 July 2021, reaffirmed their rating on the debt programme of the company with an outlook for loan term bank loan facilities revised to 'Positive' from 'Stable.'
The credit rating on the company's commercial papers worth Rs 2,000 crore were unchanged at "CRISIL A1+".
The short term rating on the company's total bank loan facilities worth Rs 7000 crore was left unchanged at "CRISIL A1+".
The long term rating on the total bank loan facilities was also unchanged at "CRISIL AA+" while its outlook was revised to positive from stable.
Coromandel International's consolidated net profit tanked 33.5% to Rs 155.85 crore on 0.5% decline in net sales to Rs 2,855.97 crore in Q4 FY21 over Q4 FY20.
Coromandel International is amongst India's pioneers and leading agri solutions provider, offering diverse products and services across the farming value chain. It operates in two major segments: nutrient and other allied businesses and crop protection. These include fertiliser, crop protection, bio pesticides, specialty nutrients and organic fertilizer businesses.
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