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Coromandel’s Senegal acquisition to yield benefits in the long run

Coromandel has acquired an equity stake in a Senegal-based rock phosphate mining company, adding to its backward integration efforts 

May 16, 2022 / 10:14 AM IST
Coromandel’s Senegal acquisition to yield benefits in the long run

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Quarterly performance largely backed by improved realisations
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Valuations not inexpensive; but improved medium-term outlook

Coromandel International stands out among fertiliser companies in trying to secure raw materials for its main business of making crop nutrients. It has set up a joint venture plant in Tunisia to secure supplies of phosphoric acid. This year the company announced its decision to set up a new<> Rs 400 crore project to manufacture sulphuric acid. India is a large importer of both phosphoric and sulphuric acids, key ingredients for making fertiliser. On May 6, Coromandel acquired 45 percent...

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