Latest news with #SSankarasubramanian
United News of India
09-08-2025
- Business
- United News of India
Coromandel International completes NACL Share Purchase Agreement
Chennai, Aug 8 (UNI) Fertiliser major Coromandel International Limited, today announced the successful closure of the Share Purchase Agreement (SPA) for the acquisition of promoter shareholding in NACL Industries Ltd (NACLIND). With this transaction, Coromandel has formally acquired a controlling stake of 53% in NACL. The ongoing Open Offer to acquire up to 26% additional stake from public shareholders under the SEBI Takeover Regulations remains in process and shall follow the prescribed regulatory timelines, the company said today. Following the 53% stake acquisition, Natarajan Srinivasan, S Sankarasubramanian andDr. Raghuram Devarakonda have joined the Board of NACL Industries today. In addition, the Board of NACL Industries Ltd., at its meeting held today, approved the appointment of Devarakonda as Managing Director & CEO. He previously served as Executive Director, Crop Protection, Bio Products and Retail businesses at Coromandel. Commenting on the development, Arun Alagappan, Executive Chairman of Coromandel International, said: 'We are pleased to welcome NACL Industries Ltd. into the Coromandel and the larger Murugappa family. This acquisition aligns with our long-term strategic roadmap to enhance our presence in the agri solutions space. With the new leadership team in place, we are confident that NACL will accelerate its journey of innovation and growth.' UNI VJ GNK
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Business Standard
08-08-2025
- Business
- Business Standard
Coromandel International closes ₹820 cr deal to acquire 53% stake in NACL
Coromandel International, India's leading agri solutions provider and part of the Murugappa Group, on Friday announced the successful closure of the share purchase agreement (SPA) for the acquisition of 53 per cent promoter shareholding in NACL Industries (NACLIND) for ₹820 crore. With this transaction, Coromandel has formally acquired a controlling stake of 53 per cent in NACL. The ongoing open offer to acquire up to 26 per cent additional stake from public shareholders under the SEBI Takeover Regulations remains in process and will follow the prescribed regulatory timelines. Following the 53 per cent stake acquisition, Natarajan Srinivasan, S Sankarasubramanian and Raghuram Devarakonda joined the Board of NACL Industries on Friday. In addition, the Board of NACL approved the appointment of Devarakonda as Managing Director and Chief Executive Officer. He previously served as Executive Director, Crop Protection, Bio Products and Retail businesses at Coromandel, and brings with him extensive leadership experience and deep domain expertise across the value chain. Commenting on the development, Arun Alagappan, Executive Chairman of Coromandel International, said: 'We are pleased to welcome NACL Industries Ltd into the Coromandel and the larger Murugappa family. This acquisition aligns with our long-term strategic roadmap to enhance our presence in the agri solutions space. With the new leadership team in place, we are confident that NACL will accelerate its journey of innovation and growth.' Coromandel International is among India's pioneers and leading agri solutions providers, offering diverse products and services across the farming value chain. It operates in two major segments: Nutrient and other allied businesses, and Crop Protection. These include fertiliser, crop protection, bio products, specialty nutrients and organic businesses. The company is the second-largest manufacturer and marketer of phosphatic fertiliser in India. Its crop protection products are marketed in India as well as in international geographies, offering a wide range of technical and formulation products. The specialty nutrients business focuses on water-soluble fertiliser, secondary and micronutrients, and nano fertiliser products. It also operates a network of around 900 rural retail outlets across Andhra Pradesh, Telangana, Karnataka and Tamil Nadu. Through these outlets, the company offers agri inputs and farming services including crop advisory, soil testing and farm mechanisation to around 3 million farmers. The company clocked a turnover of ₹24,444 crore during FY25. Its efforts towards environmental sustainability have been recognised by international organisations such as the UNDP, and it has been voted one of the ten greenest companies in India by TERI. Coromandel is part of the ₹77,881 crore Murugappa Group. 'It is a privilege to assume responsibility as Chairman of the NACL Board of Directors at this important juncture in the company's journey. The strategic alignment with Coromandel opens up exciting opportunities to strengthen NACL's product portfolio, enhance operational excellence and scale our presence in both domestic and international markets. I look forward to working closely with the leadership team and all stakeholders to build on the company's strong foundations and accelerate its next phase of growth,' said Srinivasan, incoming Chairman of the NACL Board of Directors.
News18
24-07-2025
- Business
- News18
Coromandel International posts 62 pc jump in Q1 profit on strong sales
New Delhi, Jul 24 (PTI) Coromandel International reported a 62.20 per cent jump in consolidated net profit to Rs 501.59 crore for the first quarter of 2025-26, driven by strong sales, the fertiliser company said on Thursday. Its net profit rose from Rs 309.24 crore in the year-ago period, according to a regulatory filing. The total revenue climbed 49 per cent to Rs 7,042.30 crore during the April-June quarter from Rs 4,728.83 crore a year earlier, while expenses rose to Rs 6,448.72 crore from Rs 4,345.74 crore. 'Coromandel made a strong beginning to the season, registering growth across the businesses, driven by procurement efficiencies, operational excellence and effective marketing initiatives," Managing Director and CEO S Sankarasubramanian said. Performance was aided by early monsoon onset that resulted in higher crop sowings and improved agricultural inputs consumption, he added. The board approved the acquisition of an additional 17.69 per cent stake in Baobab Mining and Chemicals Corporation SA, Senegal, through wholly-owned subsidiary Coromandel Chemicals Limited for USD 7.70 million. This will increase the stake to 71.51 per cent from 53.82 per cent. 'The acquisition of an additional stake in BMCC is a strategic move to further strengthen our backwards integration in the phosphates value chain," Sankarasubramanian said. The company's backwards integration projects for phosphoric and sulphuric acid plants at Kakinada are progressing well and are likely to be commissioned by the fourth quarter of fiscal 2025-26. Coromandel recently signed a long-term agreement with Saudi Arabia-based Maaden for securing DAP shipments to India and set up a joint venture with Sakarni Plaster to manufacture phospho gypsum-based green building materials. PTI LUX BAL BAL view comments First Published: July 24, 2025, 22:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
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.
