Mumbai, Feb. 19 -- CRISIL said that the ratings continue to reflect its robust market position in India's phosphatic-fertiliser market and strong operating efficiency supporting a healthy business risk profile.

Coromandel continues to remain the largest single super phosphate player in the domestic market, with a share of approximately 15% in fiscal 2023; and the second-largest player in other complex phosphatic (DAP+NPK) fertilisers with a primary share of approximately 15%. Financial risk profile remains robust, with a continued net debt-free position.

Revenue was Rs 18,146 crore and Ebitda (earnings before interest, taxes, depreciation, and amortization) Rs 2,126 crore for the nine months through December 2023, against Rs 24,152 and ...