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HomePosts Tagged "Coromandel International Limited" (Page 2)
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

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

The company is setting up a greenfield facility in Andhra Pradesh and plans to launch the product in 2023.

 As a leading Indian agri solutions provider, Coromandel International Limited continues to make concerted efforts in driving agricultural productivity through promoting integrated farm management approach. In a major boost to drive the sustainable practices in agriculture, the Company has successfully developed a nano technology-based fertiliser, Nano DAP from its R&D centre based at IIT Bombay.

Coromandel has been conducting extensive field studies on product efficacy, biosafety and toxicity for Nano DAP in different agro-climatic zones with leading agricultural universities and the trial results have been encouraging. The Company’s application with the Government of India for commercial release of Nano DAP is in the advanced stage of approval.

Coromandel will be amongst the pioneers in developing nano technology-based solutions and has filed a patent for the product. The company is setting up a greenfield facility in Andhra Pradesh and plans to launch the product in 2023.

Speaking on the occasion, Coromandel’s Executive Vice Chairman Arun Alagappan commented “Coromandel is promoting new technologies for enhancing the resource use efficiency of its agri solutions. Nano DAP will go a long way in driving sustainability of Indian farms through improving nutrient uptake, lowering water consumption and minimizing environmental losses.

This is in line with the Government’s thrust on improving farm yields through leveraging emerging technology solutions in agriculture. The usage of Nano DAP will make the farm economics more attractive and can drive sustainable usage and site-specific nutrient applications. The Company has also recently invested in a drone start-up Dhaksha Unmanned Systems, which provides it a strong delivery platform to promote the application of Nano fertilisers through the drones.

I would like to thank the Government for its continuous guidance, extending policy and regulatory support and providing the requisite impetus for adoption of new technologies in farming. I am optimistic that the usage of Nano fertilisers will support the Atma Nirbhar Bharat vision and can drive the next wave of Green Revolution in the country.”

The company is setting up a greenfield

Agrotech, Company News, Finance, India, Start ups

The company plans to use this funding for talent acquisition, R&D and production scale up.

Dare Ventures, the venture capital arm of Coromandel International Limited has announced its third investment this year into a differentiated drone startup, Dhaksha Unmanned Systems Private Limited. The company plans to use this funding for talent acquisition, R&D and production scale up.  

Coromandel, India’s largest private phosphatic fertilizer company has been a pioneer in deploying new age agritech solutions for the benefit of Indian farmers. The company has earlier partnered with Dhaksha drones to undertake several pilot programs of drone-based nutrient and crop protection applications. The company intends to soon launch a first of its kind “Drone as a Service” model in India. 

Dhaksha, one of the forerunners in the drone space in India, provides a complete range of Unmanned Aerial Systems (UAS) technology solutions for different applications covering agriculture, defence, surveillance and delivery, among others. Based out of Chennai, the company has over the years developed expertise in drone R&D, testing, manufacturing, and customer support. In addition to having developed capability to manufacture battery-operated drones, Dhaksha is the only company in India to manufacture petrol engine-based drones. 

The “Agrigator” drone developed by Dhaksha targeting the agriculture industry, helps farmers with the application of fertilizers and crop protection products. Agrigator comes with a 12L spray tank and can cover up to 30-35 acres per day with 8-hour usage. In addition, the company has also developed targeted drones with specific use-case solutions across surveillance, goods delivery and mining.  

Commenting on the investment, Ramanathan Narayanan, Director and CEO of Dhaksha said, “This funding will help us create several milestones in the drone industry, deliver world-class drones, offer exceptional support to customers across India and make the company a frontrunner in realizing the government’s vision of making India a ‘Global Hub’ for Drones.”  

Commenting on their investment, Sameer Goel, Director, Dare Ventures Ltd., and Managing Director, Coromandel International Limited said “Coromandel is delighted to support Dhaksha in its aim to create a transformational impact on the drone manufacturing industry in India. With its strong research and manufacturing capabilities, we expect Dhaksha to be a leader in the Indian drone manufacturing space in the near future.”

The company plans to use this funding

Agro chems – Fertilizers, Company News

Indian Institute of Rice Research (ICAR-IIRR) in association with Coromandel International Limited hosted a day-long conclave on ‘Effective use of Nano Fertilisers in Agriculture’ in Hyderabad. The focus of the conclave was to enable and understand the mechanism and use of nano materials/fertilisers for sustainable production in the agriculture.

Dignitaries present at the conclave included Dr. K. S. Subramanian, head – Department of Nano Science & Technology, TNAU, Coimbatore; Sameer Goel, managing director, Coromandel International Limited; Shankar Subramanian, president – Fertilisers, Coromandel International Limited; Dr A Subbarao, former director, ICAR-IISS, Bhopal; Kalidas Pramanik, EVP – Marketing, Coromandel International Limited and Dr. M. B. B. Prasad Babu, principal scientist – IIRR, Hyderabad.

The inaugural address was delivered by Subramanian wherein he emphasised the importance and use of nano fertilisers along with the role of private industries to take up this innovation to the farmers for better reach and appreciated the work carried out by the ICAR institutes on nano technology. It was followed by his inputs on the involvement of public private partnership in the nano fertiliser development and their inclusive growth in the agricultural input management. Subject matter specialists from other institutes, Dr Manoj Srivastava (IARI); Dr. S.S. Mukopadhyay (PAU); Dr TNVKV Prasad (ANGRAU); Dr Rahul Kumar (UoH); and Dr Elanchezhian (ICAR-IISS) presented their work and opened up new avenues in applications of nano technology for sustainable agriculture. The event also included a panel discussion on “Current relevance and scope of nano fertilisers in agriculture which was chaired by Dr A Subbarao. The meeting ended with a formal vote of thanks by Dr. Brajendra Parmar.

Indian Institute of Rice Research (ICAR-IIRR) in

Agro chems – Fertilizers, Agrotech, Company News, India

The Dun & Bradstreet Corporate Awards 2022 were presented across 30+ categories including sectoral, growth-based and special award categories.

Hyderabad based Coromandel International Limited, India’s leading Agri solutions provider in the business of Fertilisers, Crop Protection, Bio Pesticides, Specialty Nutrients, Organic Fertilizer and Retail, has been recognised as the Top Performer in the fertilisers segment by the jury of Dun & Bradstreet Corporate Awards 2022. Coromandel is also part of Dun & Bradstreet’s list of India’s Top 500 companies.

Sameer Goel, Managing Director, Coromandel International Limited received the prestigious award on behalf of the company at the hands of Avinash Gupta, Managing Director & CEO, Dun & Bradstreet.

Speaking on the achievement, Sameer Goel said, “We are delighted to be featured amongst the top performing corporates by Dun & Bradstreet. This is a recognition of our continuous efforts towards improving the shareholders’ value and conducting operations in a sustainable manner. Our Corporate Governance practices are based on transparency and accountability. We are committed towards farmers welfare and with our diversified presence across the agri value chain, we continuously engage with the farmers in developing novel agriculture solutions and integrated farming practices to maximise farm productivity. Our factories operate well within the Environmental norms and we have established a bird sanctuary in 350 acres at our Kakinada plant which has been recognised by UNDP. We are pioneers in ESG in our sector and will continue to strengthen the same.”

For more than a decade now, the Dun & Bradstreet Corporate Awards have been commemorating the outstanding performers among Indian Corporates. The Dun & Bradstreet Corporate Awards 2022 were presented across 30+ categories including sectoral, growth-based and special award categories. Only companies forming part of the Dun & Bradstreet ‘India’s Top 500 Companies’ publication in 2022 were in contention for these Awards.

The Dun & Bradstreet Corporate Awards 2022

Cold Storage, Finance, Start ups

The new funding will be used for expanding our product range, manufacturing capacity and boosting exports.

Climate-smart deeptech startup Ecozen announced that it has raised Rs 54 crore of additional funding as the first tranche of a planned Rs 200 crore Series C round. The new funding round was led by Dare Ventures, the venture capital arm of Coromandel International, with participation from existing investors Caspian and Hivos-Triodos Fonds (managed by Triodos Investment Management) through equity. Northern Arc, UC Inclusive Credit, Maanaveeya, and Samunnati also participated with debt funding. Early investors in Ecozen include IFA and Omnivore.

Ecozen develops climate-smart deeptech solutions and core technology stacks to deliver a sustainable future, including motor controls, IoT, and energy storage. Applying these technology stacks to the agricultural sector, Ecozen has revolutionized cold chains (Ecofrost) and the irrigation industry (Ecotron), substantially improving the income of 100,000+ farmers and enabling the generation of over 1Bn units of clean energy(kWh).

Ecozen sees a significant opportunity in applying its technology stacks and introducing climate-smart solutions for sectors beyond agriculture, notably electric vehicles. The company expects the market size for its innovative technology stacks in India will grow to USD 25 billion by 2025. In the coming years, Ecozen will launch multiple products which build on its deeptech expertise in thermal energy storage, motor controls, IoT, and analytics.

Commenting on this latest fundraise, Devendra Gupta, CEO and Co-Founder of Ecozen, said, “We are thrilled to partner with Dare Ventures and other new and existing investors, as we accelerate our growth and bring climate-smart deeptech solutions to new sectors of the economy. The new funding will be used for expanding our product range, manufacturing capacity and boosting exports. Expanding beyond India and beyond agriculture will enable us to expand our market potential multifold and grow exponentially while ensuring sustainability.”

Commenting on their investment, Sameer Goel, Director, Dare Ventures Ltd. and Managing Director, Coromandel International Limited, said, “We are focused on businesses with positive and long term on the ground impact and Ecozen through its innovative deep tech products is well aligned with our vision. With a keen focus on sustainability, we believe their core technology stack will significantly impact sectors beyond agriculture as well.”

The new funding will be used for