Murugappa Group stock which is one of the leading Fertiliser manufacturers and Agricultural solutions providers jumped marginally in the day’s trade after it unveiled its Nanotechnology Center at Coimbatore, Tamil Nadu, to support its efforts towards the development of a wide range of nano-enabled agro-inputs for plant nutrition and crop protection.
At 1:32 p.m. the shares of Coromandel International Limited were trading at Rs. 1,117.90 down 0.14 percent from its previous day’s close price of Rs. 1,119.50 and its market capitalization is Rs. 32,873 Crores.
Coromandel International Limited has unveiled its Coromandel Nanotechnology Center at Coimbatore, Tamil Nadu, which will support its efforts towards the development of a wide range of nano-enabled agro-inputs for plant nutrition and crop protection. It will be the sixth R&D facility of Coromandel and the second tech center which will focus on the development of next-generation agri-inputs.
Coromandel Nanotechnology Center is fully equipped with high-end equipment & research tools for carrying out cutting-edge R&D work for synthesis, characterization, biosafety testing, and evaluation of nano products.
The Center will facilitate the wider application of nano-inputs in agriculture by disseminating scientific data and knowledge to farmers, scientists, and policymakers. It will also serve as the central laboratory for all nano-products of Coromandel to ensure full compliance with regulatory guidelines and it has the capability to develop a wide range of bioproducts.
The company’s revenue grew by 55.03 percent from Rs. 19,110.85 Crores in FY22 to Rs. 29,627.91 Crores in FY23, accompanied by increasing profits of Rs. 1,528.46 Crores to Rs. 2,012.93 Crores.
It has reported a return on equity (ROE) of 28.27 percent and a return on capital employed (ROCE) of 40.51 percent, it is making good returns on its equity and capital employed.
According to the latest shareholding data available for the quarter ended September 2023, the company’s Promoters hold 57.33 percent stake, the Foreign Institutional Investors (FII) hold 7.18 percent and the Domestic Institutional Investors hold 21.12 percent.
Coromandel International Limited which is part of the Murugappa Group, is amongst India’s pioneers and leading Agri solutions provider, offering diverse products and services across the farming value chain which includes, Fertilisers, Crop Protection, Bio Products, Specialty Nutrients etc.
Written by: Bharath K.S
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