The motto of this innovative program is to extend financial support the poor rural girl students to ensure reduction in number of rural girl school drop-outs and help them go for higher education. Under this project, scholarships worth of Rs. 2500/- and Rs. 1500/- will be distributed to those girl students who have secured first and second ranks respectively in class IX from any of the government schools in Nalgonda rural areas and currently pursuing 10th class. A total of 160 girls were identified as top-two rankers in class IX from various government schools. Mana Gromor retail, the retail SBU of Coromandel International limited has been implementing this program in Andhra Pradesh and thriving to cover a massive 960 rural girl students from Warangal, Kurnool, Guntur, Krishna, West Godavari districts apart from Nalgonda during 2011-12, under this program. Mr. Muktheswarao, District collector, Nalgonda, Mr. Madan Mohan, District Educational Officer, Mr. Jayaraj, Joint Director (Agriculture) and Mr. G.V. Subba Reddy, GM & Head– Sales & Marketing (Retail), Coromandel International Limited will attend the program at Nalgonda.
The Profit after Tax for the current quarter is Rs 355 Lacs, a drop of 20% over the corresponding period of the previous year on account of provisioning made towards diminution in investment in wholly owned subsidiary, Wendt Middle East, due to lower margin on account of rising input costs and unfavourable product mix.
On a consolidated basis, the Company recorded sales of Rs 2657 Lacs and profit after tax of Rs 431 lacs during the current quarter which is 6% higher and 14% lower respectively compared to the corresponding period of the previous year. The devastating floods inThailand has had an impact on the business of its wholly owned subsidiary in Thailand.
Accordingly, the standalone Year to date sales for the period ended 31st Dec’2011 was Rs 7361 lacs higher by 22% , and the Profit after tax was at Rs 1313 Lacs higher by 12% over the corresponding period of the last year . On the consolidated basis, the company recorded cumulative sales of Rs 8226 lacs and profit after tax of Rs 1541 lacs for period ended 31st Dec’2011 which is 22% and 18% higher respectively, than the corresponding period of the previous year.
About Murugappa Group
Founded in 1900, the Rs. 17051 Crores (USD 3.8 billion) Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including eight listed Companies actively 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., Tube Investments of India Ltd., and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Construction, Bio-products and Nutraceuticals, the Group has forged strong joint venture alliances with leading international companies like Groupe Chimique Tunisien, Foskor, Cargill, Mitsui Sumitomo and Morgan Crucible. The Group has a wide geographical presence spanning 13 states in India and 5 continents.
Renowned brands like BSA, Hercules, Ballmaster, Ajax, Parry’s, Gromor and Paramfos are from the Murugappa stable. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees. For more details, visit www.murugappa.com.
For any clarifications please contact
Vinod Kumar / Diya Kinger
Ogilvy Public Relations Worldwide
Mobile : 98401 26179 / 8939623044
Mr Rajesh Khanna
CEO – Wendt India
Phone No : 04344-405500