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HomePosts Tagged "Sankarasubramanian S"
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, 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, 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