Coromandel International announced acquisition of additional equity stake in Baobab Mining and Chemicals Corporation (BMCC), Senegal, through its wholly owned subsidiary Coromandel Chemicals. Coromandel will acquire an additional 8.82% equity stake in BMCC, taking its overall shareholding to 53.8%. Coromandel will invest USD 3.84 million (Rs 32 crore) in BMCC, besides loan infusion of US$ 6.5 million (Rs 54 crore) to fund expansion projects and meet working capital requirements. Rock phosphate is a critical raw material for manufacturing Phosphoric Acid, an intermediate used for Phosphatic fertiliser production. BMCC, incorporated in 2011, has renewable exploitation permit for processing phosphate ore and Coromandel acquired 45% stake in September 2022. The company has since stabilised mining operations and is currently commissioning fixed processing plant to optimise the rock production. Powered by Capital Market - Live News

The Board of Directors of Coromandel International (CIL) today appointed S Sankarasubramanian, Executive Director � Nutrient Business, as Managing Director and Chief Executive Officer (CEO) of Coromandel International with effect from 7 August 2024. Powered by Capital Market - Live News

Net profit of Coromandel International declined 37.05% to Rs 310.97 crore in the quarter ended June 2024 as against Rs 494.03 crore during the previous quarter ended June 2023. Sales declined 16.94% to Rs 4728.83 crore in the quarter ended June 2024 as against Rs 5693.39 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales4728.835693.39 -17 OPM %10.3712.39 - PBDT487.02709.55 -31 PBT421.76661.45 -36 NP310.97494.03 -37 Powered by Capital Market - Live News

Coromandel International will hold a meeting of the Board of Directors of the Company on 7 August 2024Powered by Capital Market - Live News

Coromandel International has executed agreement to subscribe to equity shares in Coromandel Crop Protection Philippines Inc (CCPP) by infusion of USD 193,000. This infusion of 193,000 USD will increase the Company`s stake from 40% to 93.23% and then CCPP will become a subsidiary of the Company.Powered by Capital Market - Live News