Coromandel International Limited has informed the Exchange about General Updates
COROMANDEL · price
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On the reaction day the stock moved 1.1 pts less than Nifty Midcap 150 and 2.3 pts less than its Fertilizers peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Coromandel International's wholly owned subsidiary, Coromandel Chemicals Limited (CCL), has signed a joint venture agreement with Sakarni Plaster (India) Private Limited to manufacture and sell Phospho-Gypsum based products. The JV will be held 60% by CCL and 40% by Sakarni, with CCL committing up to Rs. 59 crore in capital over one or more tranches. This move builds on an earlier equity infusion into CCL (disclosed on April 30, 2025) aimed at exploring gypsum-based building material opportunities. The company sees this as a step into the fast-growing gypsum plaster market and a new export category.
This JV diversifies Coromandel beyond its core fertiliser business into a promising building materials segment, with a moderate capital outlay of Rs. 59 crore. For shareholders, it signals strategic expansion into a high-growth area, though the financial impact is likely limited in the near term given the size of investment.