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HomePosts Tagged "business expansion plan"
Agro chems – Chemicals, Agro chems – Pesticides, Agrotech, Company News, India

Scaling up Crop Protection Chemicals business will significantly help the company leverage the growth opportunities in India and the global markets.

Agrochemical major Coromandel International Ltd announced that company plans to expand its operations in Crop Protection Chemicals and foray into Contract Development & Manufacturing Organisation (CDMO) business. The Board further approved the plan to diversify into new growth areas namely Speciality and Industrial Chemicals. This is in line with the company’s strategy to establish a sizeable presence in the Crop Protection Chemicals business and leverage its deep technical capabilities and best in class infrastructure to enter into adjacencies like CDMO, Specialty and Industrial Chemicals.

 Arun Alagappan, Executive Vice Chairman, Coromandel International Limited, said, “Coromandel’s current capabilities in Crop Protection Chemicals offers a strong starting position and flexibility for play in Speciality and Industrial Chemicals. With India’s high import dependency in the specialty chemicals, global supply chain diversification trends and strong policy push by the Government, these businesses offer significant growth prospects in addition to supporting the Atmanirbhar Bharat vision of the nation. Scaling up our Crop Protection Chemicals business will significantly help leverage the growth opportunities in India and the global markets. The company plans to set up new Multi Product Plants in two of its manufacturing locations apart from purchase of additional land for future expansions. Coromandel plans to invest Rs. 1,000 crores over the next two years in the above businesses and leverage the macro tailwinds in the Chemicals sector to build a business of scale.”

Entry into CDMO business is a strategic portfolio choice where Coromandel can leverage its expertise in handling complex chemistries at commercial scale and strong development capabilities across various chemistries.

Scaling up Crop Protection Chemicals business will

Company News, Supply Chain, Warehousing

Company to add 36 offices across 16 states to achieve exponential business growth

 Sohan Lal Commodity Management Pvt. Ltd., India’s leading Post-Harvest Management Group (SLCM Group) has announced its business expansion plan for the current fiscal year. The company, currently with 4 offices in Delhi, Bihar, and West Bengal, aims to strengthen its presence pan-India with 36 new offices across 16 states. These Offices “Krishi Vikas Kendra’s” will serve as a connecting thread between the digital application of SLCM and its already present physical network of 9244 warehouses across India (as on April 30, 2022).

The new offices will enable SLCM Group’s growth initiative in the agriculture value chain. Functioning as localized nodes, these offices will enable the organization to strengthen its on-ground support and presence. Farmers, traders, and government bodies will consider the offices as a one-stop solution to avail the entire gamut of services including warehousing, procurement, and Agri financing. 

Recently, SLCM Group received the ‘Patent Certificate’ for its application titled “Methods For Real Time Data Management” from the Patent Office, Government of India, which was originally filed on December 16, 2013. As a result, SLCM Group became the only company in India to have a registered technology patent in the Agri Logistics (Warehousing) segment spanning across 75 years post-Independence.

Capitalizing on the testament of the patent, Mr. Sandeep Sabharwal, Group CEO, said, “SLCM Group is looking forward to scale its ‘Digital Initiative’ vertical. The company is currently developing a mobile application that will offer all of its services on a single platform. With the help of artificial intelligence (AI), machine learning (ML), and Agri Reach – SLCM’s proprietary technology solution – farmers and traders of the country will be connected to the entire post-harvest Agri value chain via a single mobile application.”

SLCM’s proprietary centralized real-time process management system ‘Agri Reach’, has allowed the company to scale up its asset under management (AUM) valuation per financial year from INR 1,394.01 Crore in FY17 to INR 5,519.22 Crore (as on March 20, 2022).SLCM Group through its wholly owned subsidiary Kissandhan has disbursed loans worth INR 2,388 Crores as on 31st March, 2022.

Announcing the footprint expansion,  Sabharwal added, “We are currently working on various other technologies that have the capability to enable the efficient integration of physical infrastructure with digitized enterprises, thereby strengthening the foundation of ‘Phygital’ agriculture supply chain.”

Company to add 36 offices across 16