India Business
Coromandel Fertilisers posts robust growth in 2006-07 fiscal
May 3, 2007 - 7:32:07 PM

New Delhi, May 3 - Coromandel Fertilisers Ltd., a company of the $1.6 billion Murugappa Group, has registered robust growth for fiscal 2006-07 with its profit after tax soaring at 20.57 percent over the previous financial year to reach Rs.1 billion.

During 2006-07, the company earned a total income of Rs.20.84 billion, registering a growth of about 11 percent compared to the previous fiscal.

Higher production, greater sales volume, improved operational efficiencies coupled with reduced distribution cost were the main reasons for the company's growth, officials said in a statement Thursday.

The company during the period - also invested in a Tunisian fertiliser firm by forming a joint venture with 15 percent equity.

Chennai-based Murugappa Group is one of India's leading business conglomerates with interest in engineering, abrasives, finance, general insurance, sanitary ware, cycles, sugar, farm inputs, fertilisers, plantations and bio-products.

It has 29 registered companies that have manufacturing facilities spread across 12 states in India.

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