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HomePosts Tagged "Coromandel International Limited"
Agribusiness, Agro chems – Fertilizers, Company News, India

The company opened a second manufacturing plant to ensure a steady supply of high-quality Bentonite Sulphur fertilisers to the farmers.

Coromandel International Limited, one of India’s leading agri-solutions providers, has inaugurated its second Sulphur manufacturing plant at its Visakhapatnam facility in Andhra Pradesh.

Visakhapatnam site is the company’s wholly backward integrated unit and produces approximately 12 LMT of complex fertilisers along with Phosphoric acid and Sulphuric acid. The site also hosts a Sulphur Fertiliser plant with 25000 MT production capacity. With the inauguration of this new plant, the company’s Sulphur fertiliser capacity is doubled, ensuring a steady supply of high-quality bentonite Sulphur fertilisers to the farmers.

This expansion marks a significant step in strengthening Coromandel’s presence in the specialty nutrients market, reinforcing its commitment to Indian agriculture. The event was graced by S Sankarasubramanian, MD & CEO, Coromandel International Limited, Avinash Thakur, Business Head, Specialty Nutrient and Organic Fertilisers, and other senior team members.

Sulphur is an essential nutrient for plant growth, playing a crucial role in protein synthesis, enzyme function, and overall crop productivity. In India, Sulphur deficiency is a growing concern due to factors like intensive cropping, imbalanced fertiliser use, and declining organic matter in soil. By increasing its Bentonite Sulphur capacity, Coromandel aims to provide Indian farmers with high-quality, affordable, and sustainable nutrient solutions to improve soil health and maximize yields.

The new plant is equipped with advanced German technology and capabilities to fortify Sulphur fertilisers with multiple micronutrients, addressing the evolving nutrient deficiencies in Indian soil. Beyond production, this facility also sets the stage for research and development for introducing new Sulphur variants designed to meet the crop and geography specific needs of Indian agriculture.

Speaking at the inauguration, S Sankarasubramanian, Managing Director and Chief Executive Officer – Coromandel International Limited said, “At Coromandel we believe in delivering innovative and sustainable Agri solutions to the farmers. By continuously augmenting our infrastructure and expanding capacities, we are ensuring a steady supply of fertilisers that promote long-term soil health and at the same time enhance productivity.  Over the next 4-5 years, this plant will play a crucial role in effectively meeting the growing demand for Bentonite Sulphur fertilisers across India. This milestone aligns with our long-term vision of advancing agricultural growth through technology and farmer-focused initiatives.”

Coromandel’s broader vision to drive agricultural innovation, support sustainable farming practices beyond the NPKs and DAP is depicted through the Sulphur capacity expansion at the Visakhapatnam. With this initiative, Coromandel reaffirms its leadership in providing science-backed, farmer-centric solutions that cater to the evolving needs of the agriculture sector.

The Company clocked a turnover of Rs. 22,290 Crores during FY23-24. Its efforts towards environment have been well recognized by international organizations like UNDP and has also been voted as one of the ten greenest companies in India by TERI. Coromandel is a part of the Rs 778 billion (Rs 77,881 Crores) of the Murugappa Group.

The company opened a second manufacturing plant

Agribusiness, Agro chems – Chemicals, Agro chems – Fertilizers, Agro chems – Pesticides, Company News, Finance, India

 Company’s PAT for Q3 was Rs. 525 Cr vs Rs. 243 Cr for the corresponding quarter of last year, registering a growth of 116 per cent.

 Coromandel International Limited India’s leading Agri solutions provider has reported the financial results for the quarter ended 31st December 2024. Company’s Total Income in Q3 FY25 was at Rs. 7,038 Cr vs Rs. 5,510 Cr for the corresponding quarter of last year, registering a growth of 28 per cent. Total Income for YTD Dec’24 was at Rs. 19,315 Cr vs Rs. 18,281 Cr for the corresponding period of last year, registering a growth of 6 per cent.

Company registered PAT of Rs 525 Crores in Q3 vs Rs. 243 Crore for the corresponding quarter of last year, registering a growth of 116 per cent. Company’s PAT for YTD Dec’24 was Rs 1,552 Cr vs Rs. 1,510 Cr for the corresponding period of last year, registering a growth of 3 per cent.

Company’s EBITDA for Q3 was Rs. 727 Cr vs. Rs. 358 Cr for the corresponding quarter of last year, registering a growth of 103 per cent. EBITDA for YTD Dec’24 was Rs. 2,218 Cr vs. Rs. 2,132 Cr for the corresponding period of last year, registering a growth of 4 per cent.

Review of Businesses:

Nutrient and Allied Business

The Revenue for the quarter ended Dec’24 was at Rs. 6,363 Cr as against Rs. 4,892 Cr for the quarter ended Dec’23. Profit before interest and tax was Rs. 635 Cr vs. Rs. 257 Cr in the corresponding period of the previous year.

The Revenue for YTD Dec’24 was at Rs. 17,307 Cr compared with Rs. 16,391 Cr for YTD Dec’23. Profit before interest and tax was Rs. 1,932 Cr vs. Rs. 1,928 Cr in the corresponding period of the previous year.

Crop Protection Business

The Revenue for the quarter ended Dec’24 was at Rs. 631 Cr as against Rs. 612 Cr for the quarter ended Dec’23. Profit before interest and tax was Rs. 91 Cr vs. Rs. 82 Cr in the corresponding period of the previous year.

The Revenue for YTD Dec’24 was at Rs. 1,937 Cr compared with Rs. 1,890 Cr for YTD Dec’23. Profit before interest and tax was Rs. 264 Cr vs. Rs. 225 Cr in the corresponding period of the previous year.

Consolidated Results

Coromandel’s Total income for the quarter ended Dec’24 was at Rs. 7,049 Cr vs. Rs. 5,523 Cr for the quarter ended Dec’23. The profit after tax was at Rs. 508 Cr as against Rs. 228 Cr in the corresponding period of the previous year.

Coromandel’s Total income for YTD Dec’24 was at Rs. 19,330 Cr vs. Rs. 18,294 Cr for YTD Dec’23. The profit after tax was at Rs. 1,476 Cr as against Rs. 1,477 Cr in the corresponding period of the previous year.

Commenting on the financial results, S. Sankarasubramanian, Managing Director & CEO, Coromandel International Limited, said, “We are pleased to report robust performance in Q3 FY25, driven by strong sales volumes in Nutrients and crop protection segments, operational excellence across businesses and continued execution of our strategic initiatives. This was further aided by strong tailwinds such as good monsoon, higher reservoir levels and increased crop sowing in our target markets. Recovery in global agrochemicals market, coupled with strong performance of innovative, in-licensing products have supported growth in Crop Protection segment.

The recent Bhumi Pooja for the new 750,000 MT per annum of NPK granulation train at Kakinada marks another significant milestone in our journey to strengthen fertiliser manufacturing capabilities. This project, alongside the ongoing Phosphoric Acid and Sulphuric Acid plants at Kakinada, is progressing well and is expected to bolster our domestic phosphatic fertiliser capacities”.

 Company’s PAT for Q3 was Rs. 525

Agribusiness, Agrotech, Company News, India, R&D, Soil Health

The lab features advanced equipment such as Inductively Coupled Plasma Optical Emission Spectroscopy (ICP-OES), which provides precise detection of essential soil and plant.

Coromandel International Limited, India’s leading agri-inputs company, has inaugurated an advanced Soil and Leaf Testing Laboratory at its plant in Kakinada. Equipped with state-of-the-art technologies, this facility is designed to provide precise soil and plant nutrient analysis, helping farmers across India better understand their soil and its nutrient composition. This empowers them to make informed decisions on agri-input usage, promoting sustainable agricultural practices while safeguarding soil health for future generations.

The hi-tech laboratory was inaugurated by Arun Alagappan, Executive Chairman of Coromandel International Limited, along with S. Sankarasubramanian, Managing Director & CEO, in the presence of other senior leadership team.

The laboratory features advanced equipment such as Inductively Coupled Plasma Optical Emission Spectroscopy (ICP-OES), which provides precise detection of essential soil and plant nutrients; Energy Dispersive X-ray Fluorescence (ED-XRF) which enables detailed leaf nutrient analysis. Other advanced technologies present at the lab include spectrophotometers, microwave digesters, and near-infrared spectrometers, ensure comprehensive and precise testing capabilities. These tools provide farmers with valuable insights into soil health and nutrient availability, allowing them to adopt precise agricultural practices that optimize fertilizer usage. By addressing nutrient deficiencies, improving crop yields, and minimizing unnecessary input costs, the laboratory supports long-term soil health and sustainable agriculture. 

Speaking at the inauguration, S. Sankarasubramanian, Managing Director & CEO, Coromandel International Ltd., emphasized Coromandel’s commitment to sustainable agriculture and farmer empowerment. He said, “We are focused on empowering farmers with the tools to optimize productivity and sustainability. By offering soil and leaf test-based fertilizer recommendations, we help farmers make informed, tailored decisions for specific crops, regions, and seasons. This first-of-its-kind laboratory will change the game for farmers in being able to predict better outcomes through the precise nutrient insights.”

To boost engagement with farmers, this laboratory has automated soil testing service requests and the delivery of detailed test reports using Salesforce CRM. Farmers receive timely, data-driven recommendations directly on their mobile phones. Additionally, the laboratory’s services are integrated with the Gromor Nutri Advisory Portal, which offers stage-wise fertilizer recommendations tailored to soil data and crop needs.

The lab features advanced equipment such as

Agribusiness, Agrotech, Collaborations, Company News, Drones, Farm Mechanisation, India

The partnership further enhances accessibility to these services via the ‘Krish-e Kheti Ke Liye App,’ along with other technology-driven farm solutions offered by Mahindra’s FES.

Coromandel International Limited, India’s leading agri-solutions provider, and Mahindra & Mahindra Limited’s Farm Equipment Sector (FES) business vertical, Krish-e, announced a partnership to extend Coromandel’s drone spraying services, Gromor Drive, to Indian farmers.

Currently operational in seven key states Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, Maharashtra, Madhya Pradesh and Uttar Pradesh Gromor Drive’s operations are supported by RPTO-trained pilots. Coromandel’s drone services are uniquely positioned in the market through the support of its subsidiary, Dhaksha Unmanned Systems, which ensures reliable drone supply, pilot training, and service support. This backward integration provides Coromandel with a distinct competitive edge in this emerging market. The partnership further enhances accessibility to these services via the ‘Krish-e Kheti Ke Liye App,’ along with other technology-driven farm solutions offered by Mahindra’s FES, aimed at sustainably maximizing farmers’ income and benefiting the broader agricultural value chain.

During the (non-binding) MoU signing event, Coromandel’s Chief Operating Officer, Fertiliser Business Amir Alvi, said: “Coromandel’s Gromor Drive offers significant advancements in efficiency, scalability, and convenience for agricultural practices to farmers. This (non-binding) MoU signing between Coromandel’s Gromor Drive and Mahindra Krish-e represents a pivotal moment in our journey towards transforming the agricultural landscape of India by making drone spraying accessible to farmers. We aim to reduce their input costs, increase productivity, and improve farm profitability through this collaboration. Coromandel’s Gromor Drive, backed by the company’s subsidiary Dhaksha Unmanned Systems, brings in the added advantage of in-house developed cutting-edge agricultural drones, in addition to its fleet of certified drone pilots. We are confident that this collaboration will unlock new opportunities for innovation, create value for our stakeholders, and most importantly, make a positive and lasting impact on the lives of farmers.”

Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd., expressed strong enthusiasm and optimism about this new venture and the integration of modern technology in farming saying “With Krish-e’s well-established presence across the country and Coromandel’s experienced Gromor Drive fleet, we are pleased to take the benefits of drones to many more Indian farmers. A significant step towards enhancing productivity and lowering a farmer’s exposure to powerful chemicals, drone technology can enable selective spraying of fertiliser and chemicals on crops, while also ensuring improved yield. The partnership will ensure accessibility of drone spraying for Krish-e customers through the Krish-e Kheti ke Liye App, on a pay-per-acre basis.”

The partnership further enhances accessibility to these

Agribusiness, Agro chems – Fertilizers, Agrotech, Collaborations, Company News, India

The agreement brings together CIL’s extensive market reach and advanced R&D facilities with IFDC’s global expertise in fertilizer research and production technologies.

Coromandel International Limited (CIL), one of India’s leading agri-input companies, and the International Fertilizer Development Center (IFDC), a globally renowned non-profit organization based in the US, have signed a strategic Master Research Agreement to foster innovation and sustainability in fertiliser development.

The collaboration marks a significant step towards addressing critical challenges in agriculture by introducing next-generation fertilizers aimed at enhancing nutrient efficiency, improving crop productivity, and reducing environmental impact. The agreement brings together CIL’s extensive market reach and advanced R&D facilities with IFDC’s global expertise in fertilizer research and production technologies.

Key Areas of Collaboration:

Coromandel International is actively pursuing the development of new and efficient fertilizers at its three state-of-the-art R&D centers located in Vishakhapatnam, IIT Bombay, and Coimbatore. These efforts aim to bring innovative solutions to the Indian market, empowering farmers with advanced products that enhance productivity while promoting soil health.

IFDC, with its cutting-edge research facilities in Muscle Shoals, Alabama, USA, has been a pioneer in developing advanced fertilizers and technologies. Looking ahead, IFDC plans to establish similar facilities in India, further strengthening the collaborative ecosystem for fertilizer innovation.

Announcing the partnership, S Sankarasubramanian, Managing Director & CEO, Coromandel International Limited, said, “As a farmer-first company, Coromandel is deeply committed to driving innovation that enhances soil health and boosts crop productivity. This Master Research Agreement with IFDC represents a significant step in our journey toward sustainable agricultural solutions. By combining our efforts with IFDC’s globally recognized expertise in fertilizer development and production technologies, we aim to deliver impactful innovations that improve productivity and reduce input costs for farmers.”

Commenting on the partnership, Henk van Duijn, President and CEO, IFDC, added, “We are excited to collaborate with Coromandel International to innovate and develop efficient, environmentally sustainable fertilizers tailored for India. With its vast agricultural landscape, India holds immense significance for IFDC. Our plans to establish a Fertilizer Innovation Center in the country will further strengthen our commitment by enabling dedicated research to address India’s unique agricultural needs in collaboration with companies such as Coromandel.”

The agreement brings together CIL’s extensive market

Agribusiness, Agrotech, Company News, India, R&D

The facility is designed to conduct pot experiments and advanced trials using soilless media, including hydroponics and cocopeat systems.

Coromandel International Limited, India’s leading agri solutions provider, has inaugurated a state-of-the-art Hi-Tech Polyhouse at its Research & Development (R&D) Farm in Shamirpet, Siddipet district, Telangana, further advancing its leadership in precision agriculture and new product development. This new facility strengthens Coromandel’s commitment to advancing precision agriculture and accelerating innovation in new product development.

The inauguration event was presided over by S Sankarasubramanian, Managing Director and CEO, and was graced by the presence of senior leadership team Amir Alvi, Chief Operating Officer, Amit Rastogi, EVP and Chief Technology Officer, Madhab Adhikari, VP & Head of Sales and Marketing, Babu G, VP and Head Retail Business.

The event also saw the participation of dignitaries from the Department of Horticulture, including Venkat Ramireddy, former Commissioner of Horticulture, Suvarna Devi, Deputy Director of Horticulture, emphasising the significance of this initiative in fostering agricultural innovation. Their participation highlights the growing collaboration between Coromandel International and government bodies in fostering agricultural innovation for the benefit of farmers.

The newly inaugurated Hi-Tech Polyhouse is equipped with the latest technology, enabling Coromandel to conduct advanced field trials of its innovative range of agri-inputs and solutions. The facility is designed to conduct pot experiments and advanced trials using soilless media, including hydroponics and cocopeat systems. These trials will be focused on the precise calibration of nutrients, making the polyhouse a critical testing ground for breakthrough products such as nano fertilizers, biostimulants, liquid fertilizers, slow and controlled release fertilizers, customized and coated fertilizers, plant growth regulators (PGRs), etc.

Over 100 high-net-worth (HNI) farmers and channel partners attended the event, gaining firsthand experience of the polyhouse’s advanced capabilities, live demonstrations of hydroponics, cocoponics, and advanced crop diagnostic tools such as Green Seeker, SPAD meter, K-meter and Refractometer.

Adding to the momentum of innovation, the event also included discussions on the latest advancements in autonomous robotic farm machinery developed by X Machines, a company in which Coromandel has recently made a strategic investment. Attendees observed live demonstrations of this cutting-edge technology and gained valuable insights into how autonomous machinery is transforming the future of agriculture. The use of robotics aims to increase farm efficiency and reduce labour dependency, highlighting Coromandel’s commitment to integrating advanced technology into farming practices.

 S Sankarasubramanian, Managing Director and CEO, Coromandel International Limited emphasized Coromandel’s commitment to supporting the agricultural sector, stating, “We are dedicated to serving the farming community to the fullest extent. With our farmer-first approach, our goal is to provide high-quality inputs and services that enhance the livelihoods of farmers and drive sustainable growth in the sector. The launch of the Hi-Tech Polyhouse underscores Coromandel’s vision for the future of agriculture. We are focused on driving innovation in every aspect of farming from the development of high-efficiency products to incorporating smart technologies that will revolutionize field operations and reduce environmental impact.”

The facility is designed to conduct pot

Agribusiness, Agro chems – Chemicals, Company News, Finance, India

Company reported PAT Rs 331 Cr in Q1 FY25 vs Rs 505 Cr in Q1 of previous year.

Coromandel International Limited, India’s leading Agri solutions provider is in the business of Fertilisers, Crop Protection Chemicals, Bio products, Specialty Nutrients, Organic Fertilizer and Retail. The Company has reported the financial results for the quarter ended 30th June 2024. Company’s total income for the quarter ended June 2024 was at Rs 4,783 Cr vs. Rs 5,740 Cr for the quarter ended June 2023. The profit after tax for the quarter was at Rs 309 Cr as against Rs. 494 Cr for the quarter ended June 2023. Company’s EBITDA for Q1 was Rs. 507 Cr vs. Rs 710 Cr in Q1 of previous year. Company reported PAT Rs 331 Cr in Q1 FY25 vs Rs. 505 Cr in Q1 of previous year.

Nutrient and Allied Business

The Revenue for the quarter ended June 2024 was at Rs 4,198 Cr as against Rs. 5,192 Cr for the quarter ended June 2023, registering a year-on-year de-growth of 19 per cent. Profit before interest and tax for the quarter was Rs 436 Cr vs. Rs. 672 Cr for the quarter ended June 2023.

Crop Protection Business

The Revenue for the quarter ended June 2024 was at Rs 551 Cr as against Rs. 556 Cr for the quarter ended June 2023. Profit before interest and tax for the quarter was Rs 63 Cr vs. Rs 55 Cr for the quarter ended June 2023.

Commenting on the financial results, S Sankarasubramanian, Managing Director & CEO, Coromandel International Ltd. said, ″During the quarter, Coromandel made sequential recovery, registering healthy volume sales in Nutrients and Crop Protection businesses despite the delay in onset of monsoons. However, margins for the fertilizers business were impacted due to lower subsidy rates and rise in input costs.

Strengthening its backward integration capabilities has been one of the core focus areas for the company. Towards this, the fertilizer business has commenced activities for its Phosphoric acid (650 tpd)-Sulphuric acid (2000 tpd) complex at Kakinada. Further, to improve the operational efficiency and throughput at its phosphate mines at BMCC, Senegal, the company is setting up a fixed processing plant which is expected to be commissioned during the 2nd quarter of the year. During the quarter, the company commissioned Nano DAP plant at Kakinada and has set up Urea Super Phosphate unit at Nimrani, MP.

Crop Protection business volumes improved by 5 per cent driven by growth in technical and formulations. The company introduced ten new products during Q1 including four patented products. Its inlicenced formulation ‘Prachand’ has received very encouraging response from the market and business intends to introduce such novel formulations in coming periods by partnering with global innovators. The business has also finalized plans for setting up multi product plants for herbicide and fungicide manufacturing and activities for the same will commence during the year. The company continues to take progressive steps in strengthening its capabilities in Speciality chemicals and CDMO space.

Company reported PAT Rs 331 Cr in

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

Paramfos Plus can be used for wide variety of crops, including paddy, cotton, maize, sugarcane, pulses, ragi, groundnut, oilseeds, and vegetables.

 Coromandel International Limited, India’s leading agri solutions provider, launched a new magnesium-fortified complex grade fertiliser ‘Paramfos Plus’ in Bengaluru. The product was launched by Sankarasubramanian S, Executive Director, Nutrient Business, Coromandel International, in the presence of the company’s senior leadership team and key channel partners from across Karnataka and Tamil Nadu.

‘Paramfos Plus’ fertiliser contains 16% Nitrogen, 20% Phosphorus, and 13% Sulphur, along with an additional 0.6% Magnesium. The added Magnesium boosts photosynthesis, chlorophyll production, and promotes the vegetative growth of plants leading to improvement in both quality and yield. It is versatile and can be applied both as a basal and top dressing for a wide variety of crops, including paddy, cotton, maize, sugarcane, pulses, ragi, groundnut, oilseeds, and vegetables. Additionally, it is suitable for use on cereals, legumes, tuber crops, fruit-bearing plants, and various horticultural crops, ensuring comprehensive nutrient support across diverse agricultural practices.

With a legacy of over six decades, ‘Paramfos’ has emerged amongst the most trusted fertiliser brands especially in Karnataka, enabling Coromandel to sustain leadership position in the state. Paramfos granules are free-flowing and suitable for both seed drill application and broadcasting. The new product complements the strengths of Paramfos with the benefits of Magnesium nutrient and aims to deliver balanced fertilization for various crops.

Unveiling Paramfos Plus at the launch event in Bengaluru, Sankarasubramanian S, Executive Director, Nutrient Business, Coromandel International Limited, said, “Paramfos Plus, an enhanced version of Paramfos, is fortified with ‘Magnesium’ that improves the vegetative growth of crops and provides early greening leading to increased yield and superior quality. Coromandel’s innovation in fertilisers is a testament to our commitment and dedication to boosting nutrient efficiency, reducing environmental impact, and improving the economic viability of farming in India. This innovation also aligns with the Government’s initiatives to promote use of fortified fertilisers in India.”

Paramfos Plus can be used for wide

Agro Universities, Agrotech, Collaborations, Company News, India, Soil Health

The MoU will enable Coromandel to bring advanced nutrition and crop management practices to Maharashtra based on the soil information and farm advisories provided by ICAR-NBSS&LUP.

The ICAR-National Bureau of Soil Survey & Land Use Planning (NBSS&LUP), Nagpur signed a Memorandum of Understanding (MoU) with Coromandel International Limited (CIL), a leading manufacturer of Fertilisers, Crop Protection Chemicals and Specialty Nutrient products on 13th June 2024. This collaboration aims to enhance the dissemination of improved soil test-based crop nutrition management to benefit the farmers in Maharashtra, particularly in the Vidarbha and Marathwada regions. This partnership will focus on soil test-based datasets generated by NBSS&LUP and best nutritional management solutions provided by Coromandel for better soil health and to improve crop productivity of the region. This partnership further aims to foster better coordination, research exchange, and support for the farming community.

During the MoU signing ceremony, Dr. N.G. Patil, Director of ICAR-NBSS&LUP, Nagpur, highlighted the Bureau’s mandate and activities across its five regional centres. He emphasized the goal-oriented developmental approach to provide farmers with advisories based on land parcel information using soil data from the Land Resource Inventory (LRI).

Sankarasubramanian S, Executive Director of Nutrient Business, Coromandel International Limited, signed the MoU on behalf of Coromandel. He emphasised the need for balanced nutrition management based on soil test data for betterment of farmer community. He desired this partnership to extend to other parts of Maharashtra and India by providing soil based digital solutions generated by ICAR-NBSS&LUP for making optimum fertilizer recommendations through site-specific nutrient management. Heads of RSA, SRS and LUP Divisions and Principal Scientists from ICAR-NBSS&LUP, and Madhab Adhikari, Vice President, Sales & Marketing and Dr. Binaya Kumar Parida, Chief Agronomist from Coromandel International were present in the MoU signing event.

The MoU will enable Coromandel to bring advanced nutrition and crop management practices to Maharashtra based on the soil information and farm advisories provided by ICAR-NBSS&LUP. As part of this project, site-specific nutrition demonstrations and farmers’ awareness programs will be conducted. The validated results will be used to develop Decision Support Systems (DSS) through mobile applications for crop choices and nutrient management. During the signing event, several other common scientific and farmer-centric issues for collaboration between the two organizations were discussed, including drone-based research for precision agriculture, carbon farming, and climate-smart agriculture.

The MoU will enable Coromandel to bring

Agribusiness, Agro chems – Fertilizers, India

 Plant has capacity to produce 1 crore bottles of Nano fertilisers per annum and can be scaled up for higher volumes besides producing multiple range of Nano fertilisers.

Coromandel International Limited, India’s leading agri solutions provider, unveiled state-of-the-art Nano Fertiliser plant at its Kakinada complex in Andhra Pradesh. The plant was inaugurated by Sankarasubramanian S, Executive Director, Nutrient Business, in the presence of the company’s senior leadership team and key channel partners from across the country.

Coromandel’s Kakinada unit produces a wide range of NPK grades with annual capacity of 2 million MT of fertilisers and caters to the needs of farming community across India. With the commissioning of the new Nano facility at its Kakinada complex, Coromandel has forayed into new generation fertilisers, which have the potential to revolutionise Indian agriculture.

The new Nano Fertilizer Plant is designed using energy-efficient technologies and has fully automated production line including robotic arm for bottling operations. It has capacity to produce 1 crore bottles of Nano fertilisers per annum and can be scaled up for higher volumes besides producing multiple range of Nano fertilisers.

Coromandel has developed Nano fertilisers like Nano DAP and Nano Urea through itsin-house Research and Development center at IIT Bombay-Monash Research Academy. The nano-sized fertiliser particles ensure optimal nutrient delivery and absorption by the plants and have the potential to replace the conventional fertilisers while also increasing the crop yield.

The company markets Nano fertilisers under the brand name of “Gromor Nano DAP” and “Gromor Nano Urea”. This environment-friendly fertiliser has received positive response from across geographies and various crop segments, and with this encouraging response from the farming community the company has set up a comprehensive state of the art Nano fertiliser facility at Kakinada to cater to the demands across the country. It has also carried out extensive farmer field trials both its Nano Fertilisers so establish the product efficacy.

Coromandel International had also set up a Nano Technology Center at Coimbatore to focus on Nano application in agriculture and to establish quality for Nano range of products. During the launch event, the company also felicitated its key channel partners from across the country who have taken lead to make Nano DAP accessible to the farmers.

On the occasion of the Nano Fertiliser plant launch at Kakinada, Sankarasubramanian S, Executive Director, Nutrient Business, Coromandel International Ltd, said, “Coromandel’s Nano Fertiliser Plant at Kakinada is a testament to its commitment and dedication to boost nutrient efficiency, reduce environmental impact, and improve the economic viability of farming in India. The government’s push for Nano DAP marks a new era in Indian agriculture, where technology and sustainability go hand in hand. This innovative solution aligns with our goals of enhancing agricultural productivity and farm sustainability and we believe that Nano fertilizers will play a crucial role in shaping the future of Indian agriculture.”

 Plant has capacity to produce 1 crore

Agribusiness, Agrotech, Cold Storage, Company News, Finance, India, Investments, Supply Chain

Coromondel made investment of Rs 24 crores through its wholly owned subsidiary and corporate venture capital arm Dare Ventures Limited.

Coromandel International Limited, India’s leading agri solutions company, has announced increasing its investment in Ecozen, a pioneering climate-smart technology solutions provider. The Rs 24 crores investment was made through its wholly owned subsidiary and corporate venture capital arm Dare Ventures Limited. With this, Coromandel has increased its shareholding in Ecozen to 5.54 per cent, an increase of 3.13 per cent.

Ecozen is known for its innovative and sustainable solutions such as the solar-powered irrigation (Ecotron) and cold chain systems (Ecofrost) that have positively impacted the lives of over 180,000 farmers in India. The company leverages advanced technologies including Artificial Intelligence (AI), Internet of Things (IoT), and energy storage to boost agricultural incomes and also significantly reducing greenhouse gas emissions and food losses. Ecozen clocked a turnover of Rs 274 crores in FY23, quintupling its growth in last three years, underscoring the increased consumer acceptance and demand for sustainable solutions. The company has further set its sights on expanding its offerings and market presence into Africa and Southeast Asia to build climate-smart solutions for agriculture.

Jayashree Satagopan, President, Corporate & CFO, Coromandel International Limited, stated, “The remarkable strides made by Ecozen, and its commitment to driving positive impact on the livelihoods of farmers aligns with our vision of building a smart and sustainable future. Our increased shareholding in Ecozen reflects our confidence in the company’s ability to drive positive change and create long-term value for stakeholders.”

Devendra Gupta, CEO, and Co-Founder, Ecozen, expressed his gratitude for Coromandel’s increased support and investment through Dare Ventures. “We are immensely grateful for the continued support and investment from Dare Ventures, which underscores their belief in our mission and potential. Their contribution has been instrumental in our journey towards expanding our impact and reach. With Coromandel by our side, we are confident in our ability to accelerate the adoption of climate-smart technologies globally, empowering farmers and fostering sustainable growth.”

Coromondel made investment of Rs 24 crores

Agribusiness, Agro chems – Chemicals, Company News, India, Inputs, Speciality Chemicals

This will enhance Company’s backward integration capacities and provide stable supplies of phosphoric acid for its fertiliser manufacturing.

Coromandel International Limited, India’s leading agri solutions provider, has commenced the project activity to set up its Phosphoric Acid-Sulphuric Acid complex facility at Kakinada, Andhra Pradesh. Company’s Executive Chairman, Arun Alagappan, was present for the groundbreaking ceremony and S. Sankarasubramanian, Executive Director, Nutrient Business signed the key contracts with global technology partners. With an estimated outlay of Rs 1000 crores, the project is expected to be commissioned in two years’ time.

The proposed 650 ton per day (tpd) Phosphoric Acid facility is designed with advanced DA-HF (Dihydrate Attack-Hemihydrate Filtration) process technology and automated DCS system. This will enhance Company’s backward integration capacities and provide stable supplies of phosphoric acid for its fertiliser manufacturing by replacing more than 50 per cent of Kakinada plant’s imported acid requirement. The Company also plans to set up an 1800 tpd Sulphuric Acid Plant to meet the captive needs in phosphoric acid manufacturing besides augmenting power from the waste heat generation. Phosphoric acid and Sulphuric acid are used as key intermediates for manufacturing Phosphatic fertilizers like DAP and NPKs.

Currently, company’s fertilizer plants at Visakhapatnam and Ennore are fully integrated with captive Sulphuric and Phosphoric acid facilities and the proposed expansion plan at Kakinada will make this unit also an integrated complex. With a capacity of around 2 million tons, Coromandel’s Kakinada plant is the India’s second largest phosphatic fertiliser facility and contributes close to 15 per cent of nation’s NPK fertilizer output. The plant facility also acts as a habitat for countless diverse species of birds, while greatly contributing to biodiversity and conservation of the ecosystem.

Commenting on the occasion, Arun Alagappan, Executive Chairman, Coromandel International Limited stated, “This investment signifies a pivotal moment in Coromandel’s journey towards strengthening its self-sufficiency goals in fertiliser manufacturing. Over the past few years, we have been building our upstream supply chain with investments in mining project and creating intermediate products’ capacity at Visakhapatnam for Phosphoric and Sulphuric acid. The proposed Plant in Kakinada will be built on par with the best technology standards globally and enable stable supplies of phosphatic fertilisers to the farming community. This is in line with Government’s vision of “Atma Nirbhar” Bharat in fertiliser sector besides creating employment opportunities in the state of Andhra Pradesh.”

The company is also exploring investment support from the State and Central Governments, which can improve the project viability and ensure supply security for key raw materials used in fertiliser manufacturing.

This will enhance Company’s backward integration capacities

Agribusiness, Agro chems – Chemicals, Agro chems – Fertilizers, Agro chems – Pesticides, Company News, Finance, India

 Company posted PAT of Rs 209 Crores for Q4 vs Rs 262 Crores in Q4 of previous year, registering a decline of 20 per cent.

Coromandel International Limited, India’s leading Agri solutions provider is in the business of Fertilisers, Crop Protection Chemicals, Bio products, Specialty Nutrients, Organic Fertilizer and Retail. The Company has reported the financial results for the quarter and year ended 31st March 2024.The Board of Directors of Coromandel International Limited had approved the financial results of the company for the quarter and year ended 31st March 2024. The Board has recommended final dividend of Rs. 6 per share for the financial year 2023-24.

Highlights – Standalone Results:

 Quarter 4 FY 23

• Total Income in Q4 was at Rs. 4,027 Cr vs Rs. 5,519 Cr in Q4 of previous year, registering a decline

of 27 per cent.

• EBITDA for Q4 was Rs. 269 Cr vs Rs. 399 Cr in Q4 of previous year, registering a decline of 33 per cent.

• PAT for Q4 was Rs. 209 Cr vs Rs. 262 Cr in Q4 of previous year, registering a decline of 20 per cent.

For the Year

• Total Income for the year ended 31st March 2024 was at Rs. 22,308 Cr vs Rs. 29,784 Cr over

previous year, registering a decline of 25 per cent.

• EBITDA was Rs. 2,401 Cr vs Rs. 2,918 Cr in previous year, registering a decline of 18 per cent.

• PAT was Rs. 1,719 Cr vs Rs. 2,035 Cr in previous year, registering a decline of 16per cent.

Review of Businesses

Nutrient and Allied Business

The Revenue for the quarter ended March 2024 was at Rs. 3,358 Cr as against Rs. 4,881 Cr during Q4 of Previous Year. Profit before interest and tax for the quarter was Rs. 248 Cr vs Rs. 339 Cr for the quarter ended March 2023.

The Revenue for FY23-24 was at Rs. 19,749 Cr compared with Rs. 27,162 Cr in the previous year. Profit before interest and tax for the year was Rs. 2,176 Cr vs Rs. 2,594 Cr in the previous year.

Crop Protection Business

The Revenue for the quarter ended March 2024 was at Rs. 564 Crores as against Rs. 610 Cr during Q4 of Previous Year. Profit before interest and tax for the quarter was Rs 63 Crores vs Rs. 89 Cr for the quarter ended March 2023.

The Revenue for FY23-24 was at Rs. 2,454 Crores compared with Rs 2,617 Cr in the previous year. Profit before interest and tax for the year was Rs. 288 Cr vs Rs 358 Crores in the previous year.

Commenting on the financial results, Arun Alagappan, Executive Vice Chairman, Coromandel International Ltd. said, “FY2023-24 was marked by a challenging business environment as sub normal monsoons and lower reservoir levels in Coromandel’s key operating markets impacted the agri-inputs consumption. Further, the sharp corrections in subsidy rates in second half of the year coupled with global headwinds in Crop Protection resulted in margin pressure. Despite this, Coromandel adapted well to register a satisfactory performance and has taken progressive steps to strengthen its operations during the year. Fertilizer Plants operated at higher capacity at 95 per cent levels and improved its backward integration capabilities. Crop Protection registered a strong 20 per cent volume growth across the international and domestic markets and plans to introduce new molecules through captive and in-licensing arrangements. Retail stores improved its farm level outreach and is expanding its footprint in new markets in FY25. Company has also scaled up its drone spraying services and during the year covered 25000+ acres.

As part of its diversification strategy, the Company forayed into Speciality chemicals by leveraging its existing infrastructure and continued its engagement on CDMO opportunity. Investment in drone company Dhaksha is progressing well with a strong order book of around Rs 250 crores from Defence and Agriculture segments.

Going forward, the company is committed to strengthen its core businesses and invest in novel technologies and adjacent opportunities. The forecast of an above normal monsoon and correction in NBS rates bodes well for the industry and we expect the market fundamentals to improve in the coming period.

 Company posted PAT of Rs 209 Crores

Agribusiness, Agro chems – Chemicals, Agrotech, Company News, Drones, Inputs

Coromandel has covered key southern states of AP and TS, making it first fertiliser company to achieve such a significant milestone.

Coromandel International Limited, India’s leading Agri solutions provider in the business of Fertilisers, Crop Protection Chemicals, Bioproducts, Specialty Nutrients, Organic Fertilizer and Retail, has announced its milestone of clocking 16,000+ acres of farmland covered through its Gromor Drive – an agri drone spraying initiative.

Sankarasubramanian S, Executive Director, Nutrient Business, Coromandel International Limited, informed, “In line with our vision to enhance farmer prosperity and to end to the drudgery of their hard labour, Coromandel had initiated the Gromor Drive. Today, Gromor Drive has revolutionised the Indian agriculture landscape and it gives us immense happiness to share that we have crossed 16,000+acres of drone spraying in key southern states of AP and TS, making Coromandel the first fertiliser company to achieve such a significant milestone. It is heartening to know that the farmers across regions have quickly adapted to this technology and our services, evident from the overwhelming response across crop categories we received.”

“Through our understanding of farmer needs coupled with strong rural connect, we are rightly positioned to provide drone spraying services to the farming community across geographies. From reducing labour dependency to enhancing crop quality, Gromor Drive has emerged as a trusted ally for farmers striving for sustainable agricultural practices.”

Coromandel has covered key southern states of