EIDPARRY

Fundamental Analysis

, part of the 123-year-old Murugappa Group, operates across diversified segments including Sugar, Nutraceuticals, Ethanol, and Farm Inputs, primarily through its subsidiary Coromandel International Ltd (CIL). Its key business, the Nutrient & Allied segment (67% of FY24 revenue), includes fertilizers and crop protection solutions, with Coromandel being a market leader in phosphatic fertilizers. The Sugar segment (21%) includes six plants across South India and a 100% stake in Parry Sugar Refinery. The company also operates five distilleries (582 KLPD capacity), with ethanol volumes rising significantly in FY24, and has smaller segments in co-generation and nutraceuticals. In FY24, 81% of revenues came from domestic sales. EID Parry is actively diversifying its product base to reduce reliance on sugar. It has launched new FMCG offerings like super grains and millet-based ready mixes, expanded ethanol capacity, and plans to increase retail presence from 1.1 lakh to 2 lakh outlets by 2025. With a strategic focus on value-added sugar products and retail expansion, it aims to boost realizations and stabilize margins. The company's 56.19% holding in CIL (valued at ~Rs. 29,000 Cr vs. book value of Rs. 112 Cr) provides strong financial backing, generating significant dividend income (Rs. 100–200 Cr annually), which further supports EID Parry’s growth and diversification initiatives.