Coromandel International Limited has informed the Exchange about General Updates
COROMANDEL · price
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Coromandel International has informed the stock exchanges that shareholders approved three key resolutions through a postal ballot with the required majority. These include the appointment of Mr. Natarajan Srinivasan (age 67) as a Director and as Whole-time Director designated as Executive Vice Chairman, effective April 30, 2025. Mr. Srinivasan is a chartered accountant and company secretary with over 35 years of experience, best known for leading the turnaround of CG Power and Industrial Solutions, where he repaid all debt, restored dividends, and significantly grew market capitalisation. Shareholders also approved wide-ranging amendments to the company's Memorandum of Association, enabling it to enter new businesses beyond its core fertiliser and agri-inputs portfolio. The new permitted activities include personal care, pharma and veterinary products, green hydrogen and green ammonia, bio-refineries, drones, e-commerce, mining of ores, and farmer advisory and financial services.
The appointment brings in a high-profile turnaround specialist to Coromandel's top leadership, which is generally viewed positively by the market. The sweeping MoA amendment signals a major diversification push into green energy, pharma, biotech, and digital agri-services, which could open fresh growth avenues but also raises execution and capital allocation risk for shareholders.