Coromandel International Limited has announced the approval of its un-audited financial results for the quarter and half-year ended September 30, 2026. The Board of Directors also approved the re-appointment of Mr. Sudarshan Venu as an Independent Director for a second term. Additionally, the company noted the completion of a USD 9.70 Million loan conversion into equity for its step-down subsidiary, Baobab Mining and Chemicals Corporation S.A.
Financial Results and Key Approvals
Coromandel International Limited’s Board of Directors met on November 6, 2026, and approved the un-audited financial results for the quarter and half-year ending September 30, 2026. These results, both standalone and consolidated, were recommended by the Audit Committee. The financial statements and the Limited Review Report issued by M/s. S R Batliboi & Associates LLP are available on the company’s website and the stock exchanges.
Director Re-appointment
In a significant governance decision, the Board, based on recommendations from the Nomination & Remuneration Committee, approved the re-appointment of Mr. Sudarshan Venu as an Independent Director for a second term of five years, effective from February 3, 2027, until February 2, 2032. This re-appointment is subject to shareholder approval via Postal Ballot.
Subsidiary Financing Update
Further to previous communications, the Board took note of the completion of the conversion of a loan amounting to USD 9.70 Million into equity. This transaction pertains to Baobab Mining and Chemicals Corporation S.A. (BMCC), a step-down subsidiary, which was facilitated through Coromandel Chemicals Limited (CCL).
Meeting Details
The Board of Directors meeting commenced at 1:00 p.m. and concluded at 3:00 p.m. on November 6, 2026.
Source: BSE
