Coromandel Intl inks MoU with Ma'aden to supply phosphatic fertilisers.

Coromandel International said that it has signed a memorandum of understanding (MoU) with Saudi Arabia Mining Company, Ma'aden for the long-term supply of Di-Ammonium Phosphate (DAP) and NP/NPK fertilisers.

Over the years Coromandel and Maaden have fostered a long-standing partnership, with Maaden playing a vital role as a trusted supplier of ammonia to Coromandel. The new agreement marks a significant milestone in expanding this collaboration, ensuring a reliable and sustainable supply of essential fertilisers to support Indian agriculture.

Narayanan Vellayan, director strategic sourcing, Coromandel International, highlighted the importance of this agreement, stating, In recent times, DAP availability in India has been impacted due to global supply disruptions. This strategic partnership with Maaden is a natural extension of our longstanding relationship and will help Coromandel ensure timely availability of DAP and complex fertilisers to the Indian farming community. Coromandel, with its close connect to over 4.5 million farmers, remains steadfast in its commitment to Indian agriculture, working alongside Maaden as a trusted and sustainable partner.

Saud Al Tamimi, director fertiliser sales commercial, phosphate business unit, Maaden, reaffirmed Maadens commitment to India, saying, Maaden has been the largest supplier of phosphate fertilisers to India for over a decade. We are expanding our production capacity from 6 million tonnes to 9 million tonnes in the near term, reinforcing our commitment to serve the growing needs of Indias agriculture sector.

Coromandel International is amongst India's pioneers and leading Agri solutions provider, offering diverse products and services across the farming value chain. . It operates in two major segments: nutrient and other allied businesses and crop protection.

The companys consolidated net profit surged 121.6% to Rs 511.77 crore in Q3 FY25 as compared with Rs 230.98 crore in Q3 FY24. Net sales jumped 26.9% YoY to Rs 6,935.19 crore in Q3 FY25.

The counter declined 2.76% to end at Rs 2005.25 on the BSE. The stock market will remain closed today in observance of Shri Mahavir Jayanti.

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