Coromandel International’s shares rose by 4.64% after the company signed a Memorandum of Understanding (MoU) with Ma’aden, a leading Saudi Arabian company, to ensure a steady phosphatic fertiliser supply to India.
Coromandel and Ma’aden have worked together for many years. Ma’aden has been a key supplier of ammonia to Coromandel. This new agreement strengthens their partnership and aims to provide a consistent and sustainable supply of fertilizers, helping Indian farmers.
Narayanan Vellayan, Director of Strategic Sourcing at Coromandel, said, “India has recently faced challenges in getting DAP due to global issues. This partnership with Ma’aden will help us deliver DAP and other complex fertilizers on time. We are committed to serving the 4.5 million farmers connected with us and supporting Indian agriculture with reliable fertiliser supply.”
Saud Al Tamimi, Director of Fertilizer Sales at Ma’aden, added, “Ma’aden has been India’s biggest phosphate fertiliser supplier for over 10 years. We are increasing our production from 6 million tonnes to 9 million tonnes to meet the growing needs of Indian agriculture.”
Coromandel International is one of India’s leading agricultural solutions providers. The company offers a wide range of products and services in two main areas: crop nutrients and crop protection.
In Q3 of FY25, Coromandel’s net profit increased by 121.6% to ₹511.77 crore, compared to ₹230.98 crore in the same quarter last year. The company’s net sales also grew by 26.9% year-on-year, reaching ₹6,935.19 crore.
This MoU highlights the strong relationship between Coromandel and Ma’aden and ensures a secure phosphatic fertiliser supply for Indian farmers in the future.
