Coromandel International Limited (CIL)a leading provider of agri-solutions, has announced a significant leadership change. Arun AlagappanFormer Executive Vice President has been appointed and re-nominated Executive Chairman Of the company.
A Vellayan’s retirement
Arun Alagappan has been appointed after retirement A Vellayan, outgoing Chairman and Non-Executive Director of CIL. The board on Thursday accepted Vellayan’s retirement and honored his contribution by appointing him Honorary President,
recognizing contributions
Vellayan’s appointment as Chairman Emeritus is in recognition of his invaluable contribution to CIL over the years. He will continue to provide guidance and share his expertise to the company.
additional board changes
Along with the leadership change, the board also announced retirement. MM Venkatachalam From his position as non-executive director, with effect from April 25.
financial performance
Meanwhile, CIL, a part of Murugappa GroupLtd. reported a 20% decline in its standalone net profit in the quarter ended March compared to the year-ago period. net profit was ₹209 croreWhile total income declined by 27% ₹4,027 crore,
dividend declaration
CIL’s board recommends final dividend ₹6 per equity share For the financial year 2023-24.
Arun Alagappan’s perspective
As the newly appointed Executive Chairman, Arun Alagappan is expected to provide strategic direction and leadership to CIL. His expertise and vision will be instrumental in driving the company’s growth and strengthening its position in the agri-solutions sector.
