Coromandel International Limited , a leading agri-solutions provider, has taken a significant step towards expanding its presence in Andhra Pradesh. The company recently signed a Memorandum of Understanding (MoU) with the Andhra Pradesh Economic Development Board (APEDB), outlining a proposed investment of up to ₹2,000 crore in the state.

Key Details of the MoU

Implications and Objectives

The MoU serves as a framework to facilitate the execution of various projects in a time-bound manner. These initiatives are expected to contribute significantly to the industrial development of Andhra Pradesh while aligning with Coromandel International's business objectives.

Regulatory Compliance

Coromandel International has disclosed this development to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Looking Ahead

While the MoU is non-binding at this stage, it represents a substantial commitment from Coromandel International towards investment in Andhra Pradesh. The proposed projects are subject to necessary approvals and will be executed in accordance with the prevailing policies, rules, and regulations of the Government of Andhra Pradesh.

This strategic move by Coromandel International could potentially strengthen its footprint in Andhra Pradesh and contribute to the state's economic growth. Stakeholders will be keenly watching how this MoU translates into concrete projects and what impact it may have on the company's future performance and the state's industrial landscape.

Coromandel International Limited , a leading agri-solutions provider, has announced that its shareholders have approved two significant corporate actions through a postal ballot. The company has received approval for the re-appointment of Mr. Arun Alagappan as Whole-time Director and Executive Chairman, as well as for providing a substantial loan to NACL Industries Limited.

Executive Chairman Re-appointment

Shareholders have approved the re-appointment of Mr. Arun Alagappan as Whole-time Director, designated as Executive Chairman, for a five-year term from February 15, 2026, to February 14, 2031.

Mr. Alagappan's approved remuneration package includes:

Loan to NACL Industries Limited

Shareholders have also approved providing a loan of up to Rs. 160.00 crores to NACL Industries Limited under Section 185 of the Companies Act, 2013. This financial support aims to strengthen NACL's financial position and meet its operational needs.

These approved corporate actions reflect Coromandel International's commitment to strengthening its leadership and supporting its subsidiary's growth. The shareholder approval demonstrates confidence in the company's strategic decisions and future direction.