Latest news with #BMCC
The Hindu
7 days ago
- Business
- The Hindu
Coromandel International to invest $7.70 million for raising stake in Senegalese firm BMCC
Coromandel International will acquire an additional 17.69% stake for $7.70 million in Senegalese rock phosphate miner Baobab Mining and Chemicals Corporation (BMCC). The acquisition, by subsidiary Coromandel Chemicals, will take its stake in BMCC from existing 53.82% to 71.51%, the agriculture solutions company said after a Board meeting on Thursday. Rock Phosphate is one of the key raw materials used in manufacturing of phosphoric acid, which in turn is used in manufacturing of complex fertilizers. The acquisition, of additional stake, will further help secure supply of raw materials, on a long-term and sustainable basis, the Murugappa Group company said. ₹137-cr. bagging plant Coromandel International said the board also approved the setting up a 3,888 TPD bagging plant at its Kakinada facility as a part of granulation capacity expansion with an investment of ₹137 crore. An in-house bagging plant helps reduce operational cost, enhances ease of operations and facilitates smooth movement of goods and better surveillance of end-to-end operations, thus giving an edge over previous mechanism of getting bagging done at a third-party location. For the quarter ended June, the company reported consolidated net profit increased 62% to ₹501.59 crore from ₹309.24 crore a year earlier. The higher net profit came on a nearly 49% increase in total income at ₹7,126.04 crore (₹4,782.93 crore). The performance was aided by an early monsoon onset that resulted in higher crop sowings and improved agri inputs consumption, Managing Director and CEO said.
Business Upturn
24-07-2025
- Business
- Business Upturn
Coromandel announces Rs 137 crore investment in Kakinada bagging plant and raises stake in Senegal's BMCC
By Aditya Bhagchandani Published on July 24, 2025, 15:36 IST Coromandel International has announced two significant developments as part of its expansion and raw material security strategy: 1. Setting up of new bagging plant at Kakinada Proposed Capacity Addition: 3888 Metric Tonnes Per Day (MTPD) with 6 high-efficiency bagging machines (90% design efficiency). Execution Timeline: 18 months from the date of approval. Investment Required: Rs 137 crore. Mode of Financing: Combination of internal accruals and external financing. Purpose: To reduce operational costs and improve logistics by bringing the bagging process in-house. This facility will be connected to a granulation train and railway platform, replacing third-party bagging dependency. 2. Acquisition of additional stake in Senegal-based BMCC Entity: Baobab Mining and Chemicals Corporation (BMCC), Senegal. Current Stake: 53.82% (held via subsidiary Coromandel Chemicals Ltd – CCL). New Stake Acquired: 17.69%, increasing total holding to 71.51% . Cost of Acquisition: USD 7.70 million. Nature of Transaction: Related party but at arm's length; promoters have no direct interest. Purpose of Acquisition: To ensure long-term and sustainable supply of rock phosphate , a key raw material for phosphoric acid, which is used in complex fertilizers. Approvals Required: From the Government of Senegal. Completion Timeline: Expected in Q2 and Q3 of FY26. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Indian Express
30-06-2025
- Business
- Indian Express
Maharashtra: Over 40,000 junior college admissions confirmed on first day, 5,497 in Pune district
Over 40,000 students in Maharashtra confirmed their Class 11 junior college admissions till 6 pm on Monday, the first day of registrations. As per the first Central Admission Process List released on Saturday evening, 6,32,194 students were allotted junior colleges out of the total 10,66,005 applicants. Students are now required to confirm their admissions physically at the respective allotted colleges from June 30 to July 7. In the Pune divisional region, 10,835 students confirmed their admissions as per the information provided by the Deputy Director of Education. Of these, 5,497 students are from the Pune district, 2,988 students are from Solapur district, and 2,350 are from the Ahilyanagar district. Seven colleges in Pune district had over 80 percent of total seats allotted to students in the list announced on Saturday. This includes Brihan Maharashtra College of Commerce (BMCC), Fergusson College, Mahilashram High School & Junior College, Laxmanrao Apte Prashala, Vidya Pratishthan Arts Science and Commerce Junior College, Poona College of Arts Science & Commerce, and Bhaurao Patil Vidyamandir Junior College. BMCC had the highest allotment with 462 out of 480 seats allotted. Science stream most popular overall, district-wise variations In the state, the science stream had the highest allotment in the list related on Saturday with 3,42,801 students being allotted seats. Over 1,49,791 students were allotted seats in the arts stream while 1,39,602 students were allotted seats in the commerce stream. The trend was similar in the Pune divisional region with 68,272 students being allotted seats in the science stream. However, here, the commerce stream was second with 26,779 seats allotted and the arts stream third with 21,240 seats allotted. A different trend was seen in Mumbai divisional region as the commerce stream took the top rank with 69,107 allotments. The science stream was second with 54,234 allotments and the arts stream a distant third with 16,602 allotments. In Nagpur, commerce was the least popular stream with just 7,400 allotments and science was the most popular stream with 38,191 allotments. The arts stream was second with 21,416 allotments. Commerce was the least popular stream in regions like Amravati, Chhatrapati Sambhajinagar, Kolhapur, Latur, and Nashik as well.
Indian Express
29-06-2025
- Business
- Indian Express
Fergusson Junior College tops science and arts cutoffs for FYJC admissions in Pune
As the Class 11 (FYJC) cutoffs for Round 1 allotments under Maharashtra's Centralised Admission Process (CAP) were released on Saturday evening, Fergusson Junior College topped the charts in the science and arts streams in Pune city, while Brihan Maharashtra College of Commerce (BMCC) topped the chart in commerce. For the science stream, the general category cutoff at Fergusson Junior College is 95.9 per cent (479 marks) in the aided category. In the un-aided category, the college's cutoff stands at 95.4 per cent (477 marks). Laxmanrao Apte Junior College ranked second with a cutoff of 95.2 per cent (476 marks) and Mahatma Phule Junior College ranked third with a cutoff of 95.0 per cent (475 marks). For the arts stream, the general category cutoff at Fergusson Junior College is 96.4 per cent (482 marks) in the aided category. In the self-financed category, the college's cutoff stands at 94.0 per cent (470 marks). Sir Parashurambhau Junior College ranked second with a cutoff of 92.6 per cent (463 marks) and Symbiosis College of Arts and Commerce ranked third with a cutoff of 92.0 per cent (460 marks). For the commerce stream, the general category cutoff for the Brihan Maharashtra College of Commerce is 96.2 per cent (481 marks). In the un-aided category, BMCC's cutoff stands at 95.8 per cent (479 marks). Symbiosis College of Arts and Commerce ranked second with a cutoff of 94.0 per cent (470 marks) and the Garware College of Commerce ranked third with a cutoff of 93.6 per cent (468 marks). Soham is a Correspondent with the Indian Express in Pune. A journalism graduate, he was a fact-checker before joining the Express. Soham currently covers education and is also interested in civic issues, health, human rights, and politics. ... Read More
Evening Standard
11-06-2025
- Entertainment
- Evening Standard
Boy George and Culture Club documentary premieres at Tribeca film festival in New York
After the screening at the BMCC Tribeca Performing Arts Center in Lower Manhattan, Hay told the premiere audience the new film had 'captured us in a way no-one has ever captured us before. We had a friend of George's do a documentary with us and we let him into our inner sanctum and he came down to it just turned out like a f--king episode of the Kardashians!' (Hay is understood to be referring to the 2015 BBC4 documentary From Karma to Calamity.)
