Coromandel Chemicals Enters Joint Venture with Sakarni Plaster for Phospho Gypsum-Based Green Building Materials
National, May 13, 2025: Coromandel Chemicals Limited, a wholly-owned subsidiary of Coromandel International Limited, has signed definitive agreements to form a joint venture with Sakarni Plaster for the manufacture and sale of Phospho Gypsum-based Green Building Materials.
This Joint Venture enables Coromandel to diversify beyond its core agri-inputs business, enhance integration synergies and create long-term value. For Sakarni, the alliance facilitates expansion of its product portfolio, market diversification and reinforces its leadership in the gypsum plaster industry.
Aligned with the Circular Economy initiative of the Government of India, this venture is India’s first large-scale initiative to promote sustainable Green Building Products. The joint venture aims to capitalize on the rapidly expanding gypsum plaster market, driven by a growing construction sector, the rising need for affordable housing and demand for eco-friendly, durable building materials. Phospho Gypsum products have a significantly lower carbon footprint compared to natural gypsum by avoiding mining activity, reducing environmental load and contributing positively towards waste to wealth goals under Circular Economy framework.
The Joint Venture also complements the Government of India’s push towards import substitution, self-reliance in raw materials and responsible waste management as articulated under the DPIIT’s circular economy roadmap.
The state-of-the-art manufacturing facility will be established by the Joint Venture in Visakhapatnam, adjacent to Coromandel’s fertilizer plant, ensuring reliable feedstock availability through gypsum generated as a by-product from fertilizer operations.
Mr. S Sankarasubramanian, Managing Director and CEO of Coromandel International Limited, stated: "The joint venture represents a strategic move for Coromandel in advancing our sustainability and circular economy goals. By creating value from industrial by-products and diversifying into green construction materials, we are leveraging adjacent synergies to unlock new growth avenues. This collaboration also aligns with the Government’s Atmanirbhar Bharat vision by promoting local manufacturing, reducing import dependence, and supporting environmentally responsible alternatives. By combining Coromandel’s manufacturing strength with Sakarni’s market leadership, we aim to deliver high-quality, eco-friendly gypsum solutions that meet the evolving needs of India’s housing and infrastructure sectors.”
About Coromandel
Coromandel International Limited is amongst India's pioneers and leading Agri solutions provider, offering diverse products and services across the farming value chain. It operates in two major segments: Nutrient and other allied businesses and Crop Protection. These include Fertiliser, Crop Protection, Bio Products, Specialty Nutrients and Organic businesses. The Company is 2nd largest manufacturer and marketer of Phosphatic fertiliser in India. The Company's Crop Protection products are marketed in India as well as in international geographies, offering wide range of technical and formulation products. The Specialty Nutrients business of the Company focuses on water soluble fertiliser, secondary & micronutrients and nano fertiliser products. The Company is leading marketer of Organic fertiliser in India. The Bio Products business of the company focusses on plant extractions for various applications. It also operates a network of around 900+ rural retail outlets across Andhra Pradesh, Telangana, Karnataka and Tamil Nadu. Through these Retail outlets, the Company offers agri inputs and farming services including crop advisory, soil testing and farm mechanization to around 3 million farmers. The Company has 7 R&D centers and a strong Regulatory setup, supporting the businesses in process development and new product introduction. The Company has 18 manufacturing facilities, spread widely across India, producing wide range of Nutrient and Crop Protection products, which are marketed through an extensive network of dealers and its own retail centers.
The Company clocked a turnover of Rs. 24,444 Crores during FY24-25. Its efforts towards environment have been well recognized by international organizations like UNDP and has also been voted as one of the ten greenest companies in India by TERI. Coromandel is a part of the INR 778 billion (INR 77,881 Crores) of the Murugappa Group.
For more details, visit www.coromandel.biz
About Murugappa Group
A 124-year-old conglomerate with presence across India and the world, the INR 778 billion (77,881 crore) Murugappa Group has diverse businesses in agriculture, engineering, financial services and more.
The Group has 9 listed companies: Carborundum Universal Limited, CG Power & Industrial Solutions Limited, Cholamandalam Financial Holdings Limited, Cholamandalam Investment & Finance Company Limited, Coromandel International Limited, E.I.D. Parry (India) Limited, Shanthi Gears Limited, Tube Investments of India Limited and Wendt India Limited. Other major companies include Cholamandalam MS General Insurance Company Limited and Parry Agro Industries Limited. Brands such as Ajax, Hercules, BSA, Montra, Montra Electric, Mach City, Chola, Chola MS, CG Power, Shanthi Gears, CUMI, Gromor, Paramfos, Parry’s are part of the Group’s illustrious stable.
Abrasives, technical ceramics, electrominerals, electric vehicles, auto components, fans, transformers, signalling equipment for railways, bicycles, fertilisers, sugar, tea and several other products make up the Group’s business interests.
Guided by the five lights — integrity, passion, quality, respect and responsibility — and a culture of professionalism, the Group has a workforce of over 83,500 employees.
For more details, visit www.murugappa.com
About Sakarni Group
Sakarni Group of Companies is one of India’s leading manufacturers of construction and surface finishing materials. Since our founding in 2003 by Dr. Ashok Gupta, we have emerged as a trusted brand across the construction ecosystem—serving developers, infrastructure projects, and institutions with a deep commitment to quality, innovation, and sustainable growth. Backed by over four decades of industry heritage, Sakarni continues to redefine benchmarks in construction material performance.
Post a Comment