Coromandel will develop agricultural drones
The Indian company Coromandel International (hereinafter Coromandel) has established a subsidiary company, Coromandel Technology, which will be engaged in designing and developing drones.
According to Coromandel’s plans, it will also conduct their mass production, and the company is considering not only drones for flying over agricultural land but also for working underwater.
Coromandel produces carbamide, monoammonium and diammonium phosphate, complex fertilizers, and plant protection products, supplying them throughout India. Its capacity for producing mineral fertilizers is 4.5 million tons per year, and plant protection products – 80 thousand tons per year.
In 3Q2022, Coromandel’s revenue was 101.086 billion rupees (over $1.2 billion), and net profit was 7.381 billion rupees (almost $89.2 million).