Latest news with #S.Sankarasubramanian
The Hindu
14-05-2025
- Business
- The Hindu
Coromandel Chemicals, Sakarni Plaster to form JV to produce green building materials
Coromandel Chemicals Ltd., a wholly-owned subsidiary of Coromandel International Ltd. of the Murugappa Group, said it has signed definitive agreements to form a joint venture with Sakarni Plaster for the manufacture and sale of Phospho Gypsum-based Green Building Materials. This JV would enable Coromandel to diversify beyond its core agri-inputs business, enhance integration synergies and create long-term value, the company said. This venture would be India's first large- scale initiative to promote sustainable Green Building Products, it said. The manufacturing facility will be established in Visakhapatnam, adjacent to Coromandel's fertilizer plant, ensuring reliable feedstock availability through gypsum generated as a by-product from fertilizer operations. S. Sankarasubramanian, Managing Director and CEO, Coromandel International Ltd., said, 'The joint venture represents a strategic move for Coromandel in advancing our sustainability and circular economy goals. By creating value from industrial by-products and diversifying into green construction materials, we are leveraging adjacent synergies to unlock new growth avenues.' 'This collaboration also aligns with the Government's vision by promoting local manufacturing, reducing import dependence, and supporting environmentally responsible alternatives,' he said. 'By combining Coromandel's manufacturing strength with Sakarni's market leadership, we aim to deliver high-quality, eco-friendly gypsum solutions that meet the evolving needs of India's housing and infrastructure sectors,' he added.
The Hindu
30-04-2025
- Business
- The Hindu
Coromandel International Q4 net surges ₹578 crore
Murugappa Group company Coromandel International reported consolidated net profit for March quarter surged to ₹578 crore from ₹164 crore a year earlier on the back of sustained momentum across its businesses. The net profit came on a nearly 28% increase in total income to ₹5,114 crore (₹3,996 crore). For FY25, the agriculture solutions provider's net profit was 25% higher at ₹2,055 crore (₹1,641 crore) on a nearly 10% increase in total income to ₹ 24,444 crore (₹22,290 crore) The company has declared a dividend of ₹9 per share (face value of ₹1 each) for 2024-25. A strong performance for FY24-25, it was 'driven by sustained momentum across our businesses. Our growth was supported by higher sales volumes, improved operational efficiency, and disciplined execution of strategic initiatives,' said MD and CEO S. Sankarasubramanian. Coromandel shares closed 1.33% lower on Wednesday at ₹2,214.70 each on the BSE. Coromandel operates across diverse segments, including fertilisers, crop protection chemicals, bio products, specialty nutrients and organic fertilisers. It is also forayed into the emerging agri-drone spraying services. The company's board has approved the appointment of Natarajan Srinivasan as executive vice chairman.
