Hyderabad, 22 July 2014 : Keeping in line with it’s tradition of supporting education, Coromandel International Limited, India’s leading Phosphatic fertilizer manufacturer and part of INR 243 Billion Murugappa Group – one of India’s leading business conglomerates, today announced a contribution of INR 4.55 Crores to promote education. The Company signed a MoU with IIM – AAAHC Charitable Trust to provide this financial assistance to create a corpus and to meet the expenses in maintaining and running of “Udbhav School” in Rasoolpura area in Secunderabad. Over 600 under privileged children belonging to economically weaker sections of the society are being provided education in this school which is currently managed by the trust. Mr. Kapil Mehan, Managing Director – Coromandel International Ltd. signed the MoU on behalf of Coromandel International and Mr. Shiv Rungta, Member of Executive Committee, IIM Ahmedabad Alumni Association and Trustee of the IIMAAA Hyderabad Chapter Charitable Trust signed on behalf of the trust in the presence of Mr. A Vellayan, Executive Chairman, Murugappa Group and Chairman, Coromandel International Ltd.
On this occasion, Mr. A Vellayan, Chairman – Murugappa Group said, “At Murugappa Group and Coromandel we have always looked beyond business and contribute back to society especially in the field of education. By being able to associate ourselves with the education initiatives we are able to continue to contribute to the nation building.”
As per the MoU, a new common trust would be created by both the parties in which Coromandel International would contribute INR 3.5 Crores and an equal amount would be contributed by IIM – AAAHC. Meanwhile, Coromandel International will also support with INR 35 lacs per year for a period of 3 years. This additional contribution from Coromandel International will commence immediately from the financial year 2014-15 itself to ensure the sustenance of the day to day operations of the school. These contributions would be used in providing the children opportunities and education for their overall development. The quality of teaching, state of the art infrastructure and holistic education for all round development of children would be the key focus areas.
“With IIM – AAAHC we have found an apt partner that shares our vision of strengthening the country’s foundation which are children. Through better education we can help them to become self dependent and a better citizen”, added Mr. Kapil Mehan, Managing Director – Coromandel International Ltd.
Mr. Shiv Rungta, Member of Executive Committee, IIM Ahmedabad Alumni Association and Trustee of the IIMAAA Hyderabad Charitable Trust said, “We are very thankful to Coromandel International for providing this support to the school. We are sure by working together we can achieve the objective of making quality education available for underprivileged children.”
With interest in 28 businesses, Murugappa Group also runs AMM Foundation, an autonomous, charitable trust, which is dedicated to community-friendly initiatives in the fields of education and healthcare since 1953. The foundation manages a polytechnic college and 4 schools which have introduced a new standard in the field of education through IT-based curriculum, modern teaching methods, state-of-the-art infrastructure, personalised student attention, student counselling facility, an affordable fee structure and a continuous progress review. Under the professional management of the foundation, TI school in Ambattur, Chennai, was the first school to be awarded the ISO 9001 certification. The 4 hospitals managed by the AMM Foundation have emerged as an inspiring combination of competence, commitment and service, offering the best technology at an affordable price. The foundation’s team of motivated members serves lacs of patients each year.
The Company has obtained approvals of shareholders for amalgamation of Sabero and has filed the petition with the High Courts for the sanction of the Scheme.
About Coromandel International Limited
Coromandel International Limited, India’s second largest Phosphatic fertilizer player, is in the business segments of Fertilizers, Specialty Nutrients, Crop Protection and Retail. The Company manufactures a wide range of fertilizers and markets around 3.2 million tons making it a leader in its addressable markets.
In its endeavor to be a complete plant nutrition solutions Company, Coromandel has also introduced a range of Specialty Nutrient products including Organic Fertilizers. The Crop Protection business produces insecticides, fungicides and herbicides and markets these products in India and across the globe. Coromandel is the second largest manufacturer of Malathion and only the second manufacturer of Phenthoate. Coromandel has also ventured into the retail business setting up more than 700 rural retail centers in the States of Andhra Pradesh and Karnataka.
The Company clocked a turnover of 9,381 Crore during FY 2013-14. lt was ranked among the top 20 best companies to work for by Business Today and was also voted as one of the ten greenest companies in India by TERI, reflecting its commitment to the environment and society. Coromandel is a part of the INR 243 Billion Murugappa Group.
About Murugappa Group
Founded in 1900, the INR 243 Billion Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including eleven listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Sabero Organics Ltd., Shanthi Gears Ltd., Tube Investments of India Ltd., and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Cycles, Sugar, Farm Inputs, Fertilisers, Plantations, Bio-products and Nutraceuticals, the Group has forged strong alliances with leading international companies like Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Crucible and Sociedad Química y Minera de Chile (SQM). The Group has a wide geographical presence spanning 13 states in India and 5 continents.
Renowned brands like BSA, Hercules, Ballmaster, Ajax, Parry’s, Chola, Gromor and Paramfos are from the Murugappa stable. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees.
About Udbhav School
Udbhav School provides quality education to over 600 children living in and around Chandranagar Basti and Begumpet, Hyderabad. The school imparts holistic education with the goal of making every child “life ready.” Several special initiatives are planned to ensure that the students realize their full potential. The operations of the school are currently managed by IIM – AAA Hyderabad Chapter Charitable Trust.