• As on 31st March, 2021, its debt-to-equity ratio (on a standalone basis) stood at 0.21x v/s 0.6x as on
31st March, 2020. Furthermore, it brought down its cost of debt during the year.


• Its overall loan position as on 31st March, 2021, stood at ₹755 crore of which ₹555 crore was for the
standalone entity.


• In FY21, it incurred a one-time exceptional item of ₹112.1 crore owing to closure of its Pudukkottai
and Pettavaithalai units in Tamil Nadu due to non-availability of adequate sugarcane.


• The net profit was backed by significant performance of its subsidiary, Coromandel International
Limited (CIL).

BUSINESS HIGHLIGHTS


• On a standalone basis, the performance of the company improved on account of better realisation
from sugar & distillery, higher export volume and cost reduction programmes.
• During Q4 FY21, it exported 41,037 metric tonne (MT) of sugar as part of the Maximum Admissible
Export Quantity (MAEQ) quota.
• During the year, it expanded its Bagalkot distillery.
SEGMENT-WISE PERFORMANCE
SUGAR
• In Q4 FY21, revenue contribution was ₹853.3 crore, decline of 27.3% YoY.
• The sugar segment reported an operating loss of ₹21 crore in Q4 FY21 v/s a profit of ₹170 crore in Q4
FY20.
• During the year, the cane crush stood at 39.7 lakh metric tonne (LMT) v/s 36.7 LMT in FY20.
Additionally, the recovery rate was 10.28% in FY21 v/s 9.99% in FY20.

• In FY21, the total production stood at ~3.9 LMT v/s 3.6 LMT last year. Furthermore, it sold ~4 LMT of
sugar v/s 3.7 LMT in FY20.
• The domestic sales volume was driven by release order mechanism.
• In FY21, the average selling price realized on account of export was ₹34 v/s ₹31 in FY20 which helped
to get better realization.


DISTILLERY


• Revenue contribution de-grew by 6.7% YoY and stood at ₹94.2 crore in Q4 FY21.
• During FY21, alcohol production stood at 633 lakh litre. It sold 594 lakh litre during FY21 of which
Extra Neutral Alcohol (ENA) contributed ~405 lakh litre and ethanol ~189 lakh litre.
• The average price of alcohol was ₹59.7 per litre in FY21.
CO-GENERATION
• The revenue contribution was ₹70.5 crore and ₹142 crore in Q4 and FY21, respectively.
• During FY21, it generated ~37.7 crore units and exported 20.5 crore units. The average price per unit
was ₹4.15.
• In its Tamil Nadu plant, it operates via third party and Indian Energy Exchange. On the other hand, in
Karnataka and Andhra Pradesh it operates via Power Purchase Agreement (PPA) which would expire
by middle of FY22.
• Additionally, the realization from third party mode was better in H2 FY21 which increased its
profitability.


NUTRACEUTICAL
• In Q4 FY21, revenue stood at ₹66.4 crore i.e., growth of 8.7% YoY on account of strong sales of Spirulina and Palmetto berry extract.


• The operating profit for the quarter stood at ₹19 crore v/s ₹4 crore in Q4 FY20.


NUTRIENT AND ALLIED BUSINESS
• The revenue stood at ₹2,365.2 crore in Q4, i.e., decline of 2.9%.
• During FY21, the revenue was ₹12,231.8 crore v/s ₹11,550 crore in FY20.


CROP PROTECTION
• Revenue stood at ₹515.2 crore and ₹2,083.9 crore in Q4 and FY21, respectively.


UPDATE
• The board of directors of CIL had approved the proposed scheme of amalgamation of Liber

FUTURE OUTLOOK


• It intends to maximise the utilisation of its Bagalkot distillery in the coming years.


• In the coming years, it anticipates revenue form nutraceutical segment to increase, especially from
Spirulina. Additionally, it would look for inorganic growth opportunities in this segment.


• It expects the sales of its refinery business to improve on account of the company working towards
adding more customers.


• It counts on improving its efficiency and further reducing its debt in FY22.


• The cane volume is anticipated to increase by 5%-10% in FY22.


• It projected 10% increase in production on account of good monsoon.

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