Latest news with #SSankarasubramanian
Hans India
15-05-2025
- Business
- Hans India
Collaborating to promote sustainable green building materials
Visakhapatnam: Coromandel Chemicals Limited signed agreements to form a joint venture with Sakarni Plaster for the manufacture and sale of phosphogypsum-based green building materials. Aligned with the circular economy initiative of the Government of India, the venture is India's first large-scale initiative to promote sustainable green building products. The venture aims to capitalise on the rapidly expanding gypsum plaster market, driven by a growing construction sector, rising need for affordable housing and demand for eco-friendly, durable building materials. While the joint venture enables Coromandel to diversify beyond its core agri-inputs business, enhance integration synergies and create long-term value, for Sakarni, the alliance facilitates expansion of its product portfolio, market diversification and reinforces its leadership in the gypsum plaster industry. The state-of-the-art manufacturing facility will be established in Visakhapatnam, adjacent to Coromandel's fertiliser plant, ensuring reliable feedstock availability through gypsum generated as a by-product from fertilizer operations. Speaking on the occasion, S Sankarasubramanian, managing director and CEO of Coromandel International Limited, said: 'The joint venture represents a strategic move for Coromandel in advancing towards sustainability and circular economy goals. Also, the collaboration aligns with the Government's Atma Nirbhar Bharat vision by promoting local manufacturing, reducing import dependence, and supporting environmentally responsible alternatives.' Phosphogypsum products have a significantly lower carbon footprint compared to natural gypsum by avoiding mining activity, reducing environmental load and contributing positively towards waste to wealth goals.
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Business Standard
14-05-2025
- Business
- Business Standard
Coromandel, Sakarni Plaster ink deal to make green gypsum at Vizag facility
Coromandel Chemicals Limited — a wholly-owned subsidiary of Coromandel International — has entered into a joint venture with Sakarni Plaster to manufacture and market green building materials based on phospho gypsum. "This joint venture enables Coromandel to diversify beyond its core agri-inputs business, enhance integration synergies and create long-term value. For Sakarni, the alliance facilitates expansion of its product portfolio, market diversification and reinforces its leadership in the gypsum plaster industry," the company said in a statement. Positioned as India's first major initiative to promote sustainable building materials under the government of India's Circular Economy mission, the venture seeks to tap into the surging demand for gypsum plaster. This demand is being driven by the construction boom, increasing need for low-cost housing, and a shift toward environmentally sustainable and durable building solutions. Unlike natural gypsum, Phospho Gypsum avoids mining and supports eco-friendly practices, thus reducing carbon emissions and contributing to the circular economy's waste-to-wealth objectives, the press release said. S Sankarasubramanian, managing director and CEO of Coromandel International Limited, 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 Atmanirbhar Bharat vision by promoting local manufacturing, reducing import dependence, and supporting environmentally responsible alternatives. 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," Sankarasubramanian added. Manufacturing hub in Visakhapatnam The manufacturing unit will be set up in Visakhapatnam, next to Coromandel's fertiliser plant, ensuring consistent feedstock through the by-product gypsum generated from fertiliser production. The move is in line with the Indian government's circular economy roadmap under the Department for Promotion of Industry and Internal Trade (DPIIT), which emphasises waste-to-wealth initiatives, import substitution, and responsible resource management. Coromandel International Ltd joins MSCI Global Standard Index In its latest semi-annual review, global index provider MSCI has added Coromandel International Ltd. to its MSCI Global Standard Index. The inclusion is expected to attract passive inflows of approximately $227 million. Following the announcement, Coromandel's share price has surged nearly 30 per cent, significantly outperforming the benchmark Nifty50 index, which gained only 4 per cent during the same period. Additionally, Coromandel International has also been included in the MSCI India Domestic Index as part of changes to other Indian indices.
Hans India
14-05-2025
- Business
- Hans India
Coromandel Chemicals Enters Joint Venture with Sakarni Plaster for Phospho Gypsum-Based Green Building Materials
Coromandel Chemicals Limited, a wholly-owned subsidiary of Coromandel International Limited, 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 Joint Venture enables Coromandel to diversify beyond its core agri-inputs business, enhance integration synergies and create long-term value. For Sakarni, the alliance facilitates expansion of its product portfolio, market diversification and reinforces its leadership in the gypsum plaster industry. Aligned with the Circular Economy initiative of the Government of India, this venture is India's first large-scale initiative to promote sustainable Green Building Products. The joint venture aims to capitalize on the rapidly expanding gypsum plaster market, driven by a growing construction sector, the rising need for affordable housing and demand for eco-friendly, durable building materials. Phospho Gypsum products have a significantly lower carbon footprint compared to natural gypsum by avoiding mining activity, reducing environmental load and contributing positively towards waste to wealth goals under Circular Economy framework. The Joint Venture also complements the Government of India's push towards import substitution, self-reliance in raw materials and responsible waste management as articulated under the DPIIT's circular economy roadmap. The state-of-the-art manufacturing facility will be established by the Joint Venture 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 of Coromandel International Limited, stated: "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 Atmanirbhar Bharat vision by promoting local manufacturing, reducing import dependence, and supporting environmentally responsible alternatives. 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.'
United News of India
30-04-2025
- Business
- United News of India
Coromandel International Q4FY25 net profit jumps to Rs 578 cr
Hyderabad, Apr 30 (UNI) Coromandel International Limited, one of India's leading Agri-solutions providers, on Wednesday reported that its consolidated net profit jumped to Rs 578 crore for the quarter ended March 31, 2025, from Rs 164 crore in the corresponding quarter in previous year. The company's consolidated total income during the quarter was Rs. 5,114 crore as compared Rs. 3,996 crore in Q4 of previous year, the company said in a statement. However, for the year ended March 31, 2025, the company's consolidated net profit was Rs. 2,055 crore as against Rs. 1,641 crore in previous year.. The Company operates across diverse segments including Fertilisers, Crop Protection Chemicals, Bio Products, Specialty Nutrients, and Organic Fertilisers. Coromandel has also strengthened its presence in the Agri-retail sector and made significant strides in the emerging Agri-drone spraying services. The Board of Directors of the company has approved the financial results of the company for the quarter and year ended 31st March 2025. Additionally, the Board has recommended a final dividend of Rs. 9 per share (900% on face value of Rs. 1 per equity share) for the financial year 2024-25. The Board has also approved the appointment of Natarajan Srinivasan as Executive Vice Chairman. Commenting on the financial results, S Sankarasubramanian, Managing Director & CEO, Coromandel International Limited said, We are pleased to report a strong performance for FY24-25, driven by sustained momentum across our businesses. Our growth was supported by higher sales volumes, improved operational efficiency, and disciplined execution of strategic initiatives. Our Nutrient and Crop Protection segments witnessed robust growth, complemented by encouraging farmer response to our new initiatives like Gromor Drive – Agri drone spraying and Nano fertilisers. The Retail business expanded its footprint with 100 new stores and entry into Maharashtra and Tamil Nadu, crossing the 900-store mark, he said. On the manufacturing front, rock production at our mining site BMCC, Senegal stabilised, and we increased our stake to 53.8 percent. The upcoming Phosphoric acid and sulphuric acid project at Kakinada (Andhra Pradesh) is progressing as per plan and will be commissioned early next year, Sankarasubramanian said. Alongside this, the setting up of the new Granulation Train at Kakinada aligns with our commitment to ensure availability of high-quality NPK fertilisers to the farming community across India. These projects are aligned with our vision of achieving greater self-reliance in phosphatic fertilisers and building a more resilient, integrated supply chain, the Coromandel International CEO said. In Crop Protection, capacity enhancements at Dahej and the new plant at Ankleshwar are building scale, while the NACL acquisition will expand our product portfolio and market presence internationally, he added. UNI KNR CS
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Business Standard
30-04-2025
- Business
- Business Standard
Coromandel International Q4 results: Profit rises over two-fold to ₹578 cr
Coromandel International, one of India's leading agri-solutions providers, has posted an over two-fold jump in its consolidated net profit for the fourth quarter of the financial year 2024-25 to Rs 578 crore, as against Rs 164 crore during the January to March quarter of 2023-24. Coromandel's total income for the quarter ended March 2025 was at Rs 5,114 crore versus Rs 3,996 crore for the quarter ended March 2024, up 28 per cent. The profit after tax for the financial year was up by 25 per cent to Rs 2,055 crore as against Rs 1,641 crore in the previous year. Coromandel's total income for FY25 was at Rs 24,444 crore versus Rs 22,290 crore in the previous year. "We are pleased to report a strong performance for FY25, 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 S Sankarasubramanian, managing director and chief executive officer, Coromandel International. The board has recommended a final dividend of Rs 9 per share (900 per cent on face value of Rs 1 per equity share) for the financial year 2024-25. The board has also approved the appointment of Natarajan Srinivasan as executive vice chairman. He brings with him a wealth of experience and strategic acumen, further strengthening the leadership team as the company enters its next phase of growth and transformation. "Our Nutrient and Crop Protection segments witnessed robust growth, complemented by encouraging farmer response to our new initiatives like Gromor Drive – agri drone spraying and nano fertilisers. The retail business expanded its footprint with 100 new stores and entry into Maharashtra and Tamil Nadu, crossing the 900-store mark. On the manufacturing front, rock production at our mining site BMCC, Senegal stabilised, and we increased our stake to 53.8 per cent," he added. "The upcoming phosphoric acid and sulphuric acid project at Kakinada is progressing as per plan and will be commissioned early next year. Alongside this, the setting up of the new granulation train at Kakinada aligns with our commitment to ensure availability of high-quality NPK fertilisers to the farming community across India. These projects are aligned with our vision of achieving greater self-reliance in phosphatic fertilisers and building a more resilient, integrated supply chain. In Crop Protection, capacity enhancements at Dahej and the new plant at Ankleshwar are building scale, while the NACL acquisition will expand our product portfolio and market presence internationally," Sankarasubramanian said.
