Connect with:
Tuesday / November 5. 2024

logo
mobile-logo
HomePosts Tagged "Coromandel International"
Agribusiness, Agro chems – Chemicals, Agro chems – Fertilizers, Agro chems – Pesticides, Company News, Finance, India

Company’s profit after tax for the quarter was at Rs. 659 Cr as against Rs. 755 Cr for the quarter ended September 2023.

Coromandel International Limited, India’s leading Agri solutions provider is in the business of Fertilisers, Crop Protection Chemicals, Bio products, Specialty Nutrients, Organic Fertiliser and Retail. The Company has reported the financial results for the quarter ended 30th September 2024.

Company reported Total Income of Rs. 7,509 Crore in Q2 vs Rs. 7,031 Cr for the corresponding quarter of last year. Company’s EBITDA for Q2 was Rs. 983 Cr vs. Rs. 1,064 Cr for the corresponding quarter of last year. Company has posted Rs 696 Crore Profit After Tax in Q2 was vs Rs 762 Cr in Q2 for the corresponding quarter of last year. Company’s Total Income in H1 was at Rs. 12,277 Cr vs Rs. 12,771 Cr for the corresponding period of last year. Company reported Rs 1,490 Cr EBITDA for H1 vs. Rs. 1,774 Cr for the corresponding period of last year. Company’s PAT for H1 was 1,027 Cr vs Rs. 1,267 Cr for the corresponding period of last year.

Nutrient and Allied Business

The Revenue for the quarter ended September 2024 was at Rs. 6,746 Cr as against Rs. 6,307 Cr for the quarter ended September 2023. Profit before interest and tax for the quarter was Rs. 861 Cr vs. Rs. 998 Cr for the quarter ended September 2023.

The Revenue for the first half was at Rs. 10,944 Cr compared with Rs. 11,499 Cr in the corresponding period of the previous year. Profit before interest and tax for the first half was Rs. 1,297 Cr vs. Rs. 1,670 Cr in the corresponding period of the previous year.

Crop Protection Business

The Revenue for the quarter ended September 2024 was at Rs. 755 Cr as against Rs. 722 Cr for the quarter ended September 2023. Profit before interest and tax for the quarter was Rs. 110 Cr vs. Rs. 88 Cr for the quarter ended September 2023.

The Revenue for the first half was at Rs. 1,306 Cr compared with Rs. 1,278 Cr in the corresponding period of the previous year. Profit before interest and tax for the first half was Rs. 173 Cr vs. Rs. 143 Cr in the corresponding period of the previous year.

Consolidated Results

Coromandel’s total income for the quarter ended September 2024 was at Rs. 7,498 Cr vs. Rs. 7,033 Cr for the quarter ended September 2023. The profit after tax for the quarter was at Rs. 659 Cr as against Rs. 755 Cr for the quarter ended September 2023.

Coromandel’s total income for the first half was at Rs. 12,281 Cr vs. Rs. 12,771 Cr in the corresponding period of the previous year. The profit after tax for the first half was at Rs. 968 Cr as against Rs. 1,249 Cr in the corresponding period of the previous year.

Commenting on the financial results, Sankarasubramanian S, Managing Director & CEO, Coromandel International Ltd., said, “Company registered a healthy performance in Q2, led by higher sales volumes and improved operational efficiencies across the businesses. The company continues to make sequential recovery quarter on quarter, despite lower subsidy rates and firming up of raw material prices. Favourable agricultural environment like above normal monsoon and higher crop sowing supported agri inputs consumption. During the quarter, fertiliser business of the company increased its primary sale volumes by 13per cent and improved its consumption share to 20 per cent.

The company has taken steps to secure its backend supply chain and has been setting up intermediate capacities over the past few years, besides foraying into mining at Senegal. In January 2024, we had announced Sulphuric acid (2000 TPD) and Phosphoric acid (650 TPD) plants at Kakinada and the projects are progressing as per plan and are likely to be commissioned by early 2026, thereby making all of the company’s fertiliser manufacturing sites backward integrated and reducing their dependence on imports.

Company’s profit after tax for the quarter

Agribusiness, Agro chems – Chemicals, Agro chems – Fertilizers, Company News, Fungicides, India

The new products include an innovative neem-coated bio plant and soil health promoter and five generic formulations, offering comprehensive crop protection solutions for Indian farmers.

Agro-chemical major Coromandel International announced the launch of 10 new products, including patented ones, to boost crop yield and protect harvests from pests and diseases. The new products include an innovative neem-coated bio plant and soil health promoter and five generic formulations, offering comprehensive crop protection solutions for Indian farmers, the company said in a statement.

Coromandel has partnered with Japan’s ISK to launch Prachand, a patented product using Japanese technology to protect paddy crops from pests like stem borers and leaf folders that can cause up to 70 per cent yield losses.

Company has also developed a formulation to effectively combat fall armyworm, a highly destructive pest that damages up to 30 per cent of the corn crop annually in India.

Two new patented fungicides aim to improve crop health and yields – one offers long-lasting control of sheath blight disease in rice, while the other provides both surface and systemic action against diseases in potatoes, grapes and tomatoes.

Coromandel’s new product launches come as Indian farmers grapple with increasing pest attacks challenging crop output. The company’s share of sales from new products stood at 15 per cent in the fiscal ending March 2024.

“This marks the first time that Coromandel has introduced 10 new products in a single year,” said Raghuram Devarakonda, Executive Director at the company’s crop protection and bioproducts division.

The launches include one product developed through Japanese collaboration and four from in-house research, Devarakonda said, adding that the company remains at the forefront of farm innovation in India.

The new products include an innovative neem-coated

Company News, Finance, India, Investments, Start ups

Coromandel will invest Rs 150 crore taking its shareholding in the Dhaksha to 58 per cent.

Agriculture solutions provider Coromandel International is acquiring an additional 7 per cent stake in Dhaksha Unmanned Systems for Rs 150 crore taking its shareholding in the Chennai-based drone maker to 58 per cent.

The proceeds from the fund-raise will help Dhaksha strengthen research and development efforts, cater to servicing large orders and meeting working capital needs, Coromandel said on the acquisition through subsidiary Coromandel Technology.

“The investment in Dhaksha aligns with Coromandel’s vision of diversifying in technology spaces and promoting technology adoption across various spheres,” said Arun Alagappan, Executive Chairman Coromandel International.

Coromandel has been associated with Dhaksha from is start-up stage, supporting the company on talent acquisition, R&D and scaling up production. Dhaksha has strengthened its technological capabilities in the past year, investing in research activities to develop new products and applications. “We remain committed to bringing in latest innovations in drones and enable Dhaksha to become a drone manufacturing major in the country”, Alagappan said in a release.

The 2019 incorporated Dhaksha provides a range of Unmanned Aerial Systems (UAS) for use in agriculture, defence, surveillance and enterprise applications. It also offers remote pilot training services.

Dhaksha bagged several orders from defence and agri input companies last year and its order book stands at Rs 265 crore. It has recently expanded production capacity with a state-of-the-art manufacturing facility established on the outskirts of Chennai, Coromandel said.

Coromandel will invest Rs 150 crore taking

Agro chems – Chemicals, Agrotech, Company News, India

Nano DAP production facility in Andhra Pradesh will have a capacity to manufacture 4 crore bottles and is likely to be commissioned in 2023.

Coromandel International Limited, leading Indian agri solutions company has announced the launch of ‘Nano DAP’ a cutting-edge nanotechnology-based fertilizer, developed by its R&D centre based at IIT Bombay. The company has conducted 700 field trials and has partnered with leading agricultural universities to establish efficacy of the product. Coromandel has received regulatory clearance from the Department of Fertilizers for manufacturing Nano DAP earlier in March, makes the company the pioneer in adopting nano technology in Phosphatics fertiliser space.

The company is setting up a Nano DAP production facility in Andhra Pradesh with a capacity to manufacture 4 crore bottles and is likely to be commissioned in 2023. The product would be available in 1-litre bottle, which can supplement the nutrient needs of one acre farm.

The company has been driving sustainable farm practices by leveraging technology solutions to promote its integrated nutrient management approach.

Nano DAP production facility in Andhra Pradesh

Agro chems – Pesticides, Company News

The three insecticides developed for rice, cotton and vegetable crops are a combination effective chemicals and fungicide will protect paddy crops from sheath blight and rice blast infections.

Agrochemical and fertiliser major Coromandel International launched three insecticides and a fungicide in recent.Company’s senior assistant vice-president and head (formulations-sales and marketing) B.V.S. Satish, launched Ortain Super, Phendal Plus, Canister and Prop-Plus, in the presence of firm’s assistant vice-president and head (formulations-sales and marketing) G.V. Suryanarayana, dealers and distributors.

  B.V.S. Satish said “All the four products had been developed in-house the company after a lot of research and development work. “The three insecticides developed for rice, cotton and vegetable crops are a combination effective chemicals, while fungicide Prop-Plus will protect paddy crops from sheath blight and rice blast infections”.

Satish also added that  the company was working towards strengthening its product portfolio for all major crops.Company’s senior general manager and regional business head S. Venkata Reddy, senior general manager and expert (marketing) Satish Tiwari and general manager (strategic marketing) Sourav Chakraborty were present on the occasion.

The three insecticides developed for rice, cotton

Agro chems – Chemicals, Agro chems – Fertilizers, Agro chems – Pesticides, Company News

Three insecticides, one herbicide and one fungicide were added to the portfolio

Coromandel International has introduced five new products in its crop protection range: three insecticides, one herbicide and one fungicide into their portfolio. The meeting was attended by 200 dealers along with 50 employees. 

OFFICER is a new generation selective herbicide. It is a broad-spectrum systemic herbicide that controls almost all categories of weeds in paddy. ORTAIN SUPER is a combination insecticide for paddy, has a dual mode of action for resistance management and provides effective control over both lepidopteran and sucking pests. PHENDAL PLUS insecticide for paddy prevent resistance development with its dual mode of action and has a knockdown effect causing faster kill of target pests. CANISTER is a broad-spectrum insecticide for chilli having effective control on mites, whiteflies and thrips, has control in all stages of mite’s lifecycle and has a long residual action that results in long-duration control. PROP – PLUS is a combination of two highly systemic triazole fungicides resulting in two different modes of action that help in resistance management for paddy, offer effective disease control, has less foam formation and have good rain fastness.

Sameer Goel, MD, Coromandel International said, “Coromandel will continue to develop innovative products in Nutrition and Crop Protection segments to serve the farming community.”

Three insecticides, one herbicide and one fungicide

Company News, Finance

The EBITDA for Q4 was Rs 272 crore registering an increase of 20 per cent over Q4 of previous year

The Board of Directors of Coromandel International has approved the financial results of the company for the quarter and year ended March 31, 2022. The Board had declared an interim dividend of Rs 6.00 per share in February 2022 and was paid to the shareholders in March 2022. The board has now recommended a final dividend of Rs 6 per share for the financial year 2021-22.

The total income in Q4 was at Rs 4,294 crore compared to Rs 2,860 crore of same period previous year, registering a growth of 50 per cent over previous year. The EBITDA for Q4 was Rs 272 crore registering an increase of 20 per cent over Q4 of previous year. The PAT for Q4 was Rs 183 crore vs Rs 156 crore in Q4 of previous year registering a y/y growth of 17 per cent. The total income for the year ended March 31, 2022 was Rs 19,231 crore compared to Rs 14,231 crore of same period previous year, registering a growth of 35 per cent over previous year. The EBITDA for FY 21-22 was Rs 2,036 crore vs Rs 1,970 crore in previous year, registering an increase of 3 per cent over the previous year. The PAT for FY 21-22 was Rs 1,412 crore vs Rs 1,313 crore of the previous year registering a y/y growth of 8 per cent.

The EBITDA for Q4 was Rs 272 crore registering