Coromandel International to open 200 stores to expand retail operation in India

India's major fertilizer company Coromandel International Ltd is all set to scale up its retail operations by opening 200 stores in the current financial year (2011-12). The company plans to open 125 stores in southern Indian state of Andhra Pradesh and 25 in another southern state of Karnataka.

The company, which is owned by Rs 159,070 million Murugappa Group, runs rural retail stores under the name 'Mana Gromor Centers.' It currently operates 423 such centers in Andhra Pradesh and 20 in Karnataka.

These centers sell various agri-inputs, including pesticides, fertilizer, organic fertilizers, seeds, specialty nutrients and also insurance products. The company produces over 35 types of fungicides, insecticides and herbicides that are exported beyond the countries, which include countries like Western Africa, South America and South East Asia.

Incorporated in 1961, Coromandel is the second-largest manufacturer of Malathion and Phenthoat in the global agro-chemical market. The company reported that retail centers has helped contribute 24% to its turnover from the sale of its traded products.