Coromandel International To Add 200 Stores In AP and Karnataka
Coromandel International Limited, flagship of the Chennai-based Murugappa Group , is planning to expand its rural retail operations by opening 200 rural retail stores in fiscal 2012. The company operates rural retail stores in Andhra Pradesh under the name ‘Mana Gromor Centers.’ It currently runs 423 such rural retail stores there. It also extended the initiative to Karnataka by setting up 20 rural retail centres under the name ‘Namma Gromor Centers.’
In fiscal 2012, Coromandel International plans to set up 200 more such rural retail centres in Andhra Pradesh (125 centres) and Karnataka (75), it said in an investor presentation. These centres sell agri inputs such as fertilisers, pesticides, specialty nutrients, seeds, organic fertilisers and even insurance products.
According to the company’s 2011 annual report, it increased its turnover from the sale of traded products through rural retail centres by 24%. “The emphasis (for rural retail stores) is to leverage the relationship with the rural customers for expanding business and enter into new and diversified areas,” it said.
In the investor presentation, the company said the 423 rural retail stores in Andhra Pradesh achieved break-even at EBITDA level in 2011. Coromandel International accounts for 45% of Murugappa group’s turnover and 51% of its EBITDA. One of the largest companies within the Murugappa Group, Coromandel International, has been vitalising the agricultural sector since its inception in 1964 under the name Coromandel International Fertilizers. Today, Coromandel International is a leading manufacturer and markets a wide range of Fertilisers, Speciality Nutrients, Crop Protection and Retail.
Coromandel International is the second largest manufacturer of Malathion
Coromandel International manufactures and markets around 2.9 million tonnes of phosphatic fertilisers, making it a leader in its addressable markets and the second largest phosphatic fertiliser player in India. In its endeavour to be a complete plant nutrition solutions company, Coromandel International has also introduced a range of Speciality Nutrient products including Organic Fertilisers. The Crop Protection business produces insecticides, fungicides and herbicides and markets these products in India and across the globe. Coromandel International is the second largest manufacturer of Malathion and only the second manufacturer of Phenthoate.
Coromandel International has also ventured into the retail business setting up 423 rural retail centers in the agri segment called ‘Mana Gromor’ out of which about 200 centres have lifestyle segment called ‘Mitra’.
The Company has strategic partnerships with leading companies across the globe. A Technical Assistance Agreement was inked with Foskor (Pty) Ltd. of South Africa, one of the largest phosphoric acid producing companies, for extending Coromandel International’s technical assistance. Coromandel International and Gujarat State Fertiliser Corporation (GSFC) signed a joint venture agreement in November 2005 with Groupe Chimique Tunisien (GCT) and CPG of Tunisia to set up a phosphoric acid plant at La Skhira, Tunisia, at an estimated cost of US$ 500 million.
Coromandel International has been voted one of the Top 10 Greenest Companies.
Coromandel International was voted one of the Top 10 Greenest Companies in India by Tata Energy Research Institute (TERI) – Business Today, reflecting the Company`s commitment to the environment and society. The organisation has come a long way since 1906 and owes its success to its engaged workforce and customers, committed vendors, suppliers and supportive investors.