Coromandel International

Coromandel International Ltd, which is into fertilisers and crop protection chemicals businesses, on Wednesday said it will diversify into speciality and industrial chemicals. Coromandel International is in the business of fertilisers, crop protection chemicals, bio-products, speciality nutrients, organic fertilisers and retail. In a statement, the company said that its Board approved a plan to expand its operations in crop protection chemicals and foray into Contract Development & Manufacturing Organisation (CDMO) business. The Board also 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, speciality and industrial Chemicals," it added.

Fertiliser cooperative major IFFCO and Coromandel International Ltd (CIL) will manufacture Nano DAP for a period of three years. A notification in this regard was issued on March 2, Minister of State for Chemicals and Fertilisers Bhagwanth Khuba said in his written reply to the Lok Sabha on Friday. Di Ammonium Phosphate (DAP) is the second most widely consumed fertiliser after urea in the country. The minister further said IFFCO has informed that it is setting up a Nano DAP plant at its Kalol unit, Gujarat with a production capacity of 2 lakh bottles of 500 ml per day. "Nano DAP will be available in the market across the country after commencement of commercial production," he added. On its benefits, the minister shared that preliminary field trials were conducted by IFFCO and CIL on select crops in select institutes of Indian Council of Agricultural Research (ICAR). The report has indicated that with the use of Nano DAP as seed treatment and foliar application, there is a ...

Coromandel International Ltd has reported standalone profit after tax at Rs 539 crore upby 42 per cent during the quarter ending December 31, 2022, the company said on Thursday. The city-based diversified conglomerate Murugappa Group company had registered standalone profit after tax at Rs 379 crore last year. Total income during the quarter under review surged to Rs 8,350 crore as against Rs 5,101 crore registered last year. Profit after tax for the nine month period ending December 31, 2022 grew to Rs 1,773 crore upby 44 per cent from Rs 1,229 crore registered corresponding period of last year. Total income during the nine month period ending December 31, 2022 stood at Rs 24,265 crore as compared to Rs 14,937 crore registered last year. The revenue from the nutrient and allied business during the quarter under review was at Rs 7,710 crore as against Rs 4,483 crore registered in December 2021. Crop protection business generated revenues of Rs 651 crore as compared to Rs 623 crore

Shares of Coromandel International, Deepak Fertilisers, GSFC, Madras Fertilisers, National Fertilisers, RCF, and Zuari Agro Chemicals have soared up to 196 per cent so far this calendar year (CY22)

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Analyst believe the company should benefit from debottlenecking of the phosphoric acid plant as well as from an increased share of newly-launched, high margin, crop-protection products in FY23.

Agri-solutions provider Coromandel International Ltd reported a 16.2 per cent rise in profit after tax at Rs 379 crore for the quarter ending December 31, 2021.

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Around 6.51 million equity shares, representing 2.2 per cent of total equity of Coromandel International, changed hands via block deal on the BSE at open

Instead of the board, which was managed by a family member and five outsiders, the group and individual companies will now be led by senior family members

Firm attributes better profit show to good monsoon and soil moisture, and govt's proactive steps in farm space