52-Week High Alert: Agri-Solutions Provider Partner with Mahindra Krish-e to Provide Drone Spraying Services for Indian Farmers
At the closing bell, shares of the company were trading at Rs 1,816.25 per share, down 0.18 per cent with a spurt in volume by more than 10.55 times on BSE.
Coromandel International Limited, a prominent agri-solutions provider in India, has partnered with Mahindra & Mahindra’s Krish-e (Farm Equipment Sector) to expand its drone spraying services, "Gromor Drive," to farmers across the country. Gromor Drive is currently operational in seven states: Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, Maharashtra, Madhya Pradesh, and Uttar Pradesh, utilizing RPTO-trained pilots. A key differentiator for Coromandel's drone services is the support from its subsidiary, Dhaksha Unmanned Systems, which handles drone supply, pilot training, and service support, providing a significant competitive advantage through backward integration.
This collaboration aims to increase accessibility to Gromor Drive through the ‘Krish-e Kheti Ke Liye App,’ integrating it with Mahindra’s existing suite of technology-driven farm solutions. This integration will enable farmers to conveniently access drone spraying services alongside other tools designed to sustainably maximize their income and improve the overall agricultural value chain. The partnership leverages both companies' strengths to deliver comprehensive and technologically advanced solutions to the Indian agricultural community.
About the Company
Coromandel International Limited is a leading Indian agri-solutions provider with a diverse portfolio spanning the entire farming value chain. Operating through two primary segments—Nutrient and other allied businesses, and Crop Protection—the company offers a comprehensive range of products and services. These include fertilizers (where it is the 2nd largest manufacturer and marketer of phosphatic fertilizer in India), crop protection chemicals (marketed both domestically and internationally), bioproducts, speciality nutrients (including water-soluble, secondary & micronutrients, and nano fertilizers), and organic fertilizers (where it is a leading marketer in India). The company also operates a network of over 750 rural retail outlets across several southern Indian states, providing agri-inputs and farming services such as crop advisory, soil testing, and farm mechanization to approximately 3 million farmers.
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Coromandel boasts a robust infrastructure, including seven R&D centres and a strong regulatory setup dedicated to process development and new product introduction. Its 18 manufacturing facilities, strategically located across India, produce a wide array of nutrient and crop protection products distributed through an extensive network of dealers and its retail centres. The company achieved a turnover of Rs 22,290 crore in FY23-24. Coromandel's commitment to environmental sustainability has earned recognition from international organizations like UNDP and TERI, which voted it one of the ten greenest companies in India. Coromandel is a part of the Rs 778 billion (Rs 77,881 crore) Murugappa Group.
On Tuesday, shares of Coromandel International Limited gained 1.88 per cent and made a new 52-week high of Rs 1,853.75 per share from its previous closing of Rs 1,891.50 per share. At the closing bell, shares of the company were trading at Rs 1,816.25 per share, down 0.18 per cent with a spurt in volume by more than 10.55 times on BSE.
Disclaimer: The article is for informational purposes only and not investment advice.