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Coromandel International aims to expand its drone spraying services, introduced in FY24, within the agriculture sector, recognising the transformative potential of drones in farming.
The Murugappa Group company covered more than 28,000 acres of drone-spraying in States like Andhra Pradesh and Telangana from its Gromor Drive and Retail store network in FY24, said the company’s latest annual report.
The company describes this service as a “game-changing solution to water conservation in agriculture,” aiming to cover 2,00,000 acres with drone spraying solutions by 2025. Drone-based spraying can reduce water consumption by up to 90 per cent compared to conventional methods, according to Coromandel.
Nano fertilisers
The farmers across regions have quickly adapted to this technology and services and the initiative received an overwhelming response across crop categories, it added.
Precision agriculture, enabled by Agri Drone spraying services and Nano Fertilisers, is revolutionising Indian agriculture. The adoption of Nano Fertilisers is expected to reduce reliance on conventional fertilizers, while drones promote precision and less water-intensive practices.
As part of the Namo Drone Didi initiative, Coromandel has supported 200 rural SHG women by distributing free drones and providing pilot training. These drones will be utilised for agricultural purposes, such as crop monitoring, fertiliser spraying, and seed sowing, providing additional income opportunities for numerous women.
Coromandel forayed into new and adjacent business areas like drones, robotics, and speciality chemicals, identifying them as future growth areas.
Dhaksha
In FY24, Coromandel increased its shareholding in Dhaksha, a drone company, to 51 per cent and further to 58 per cent in May 2024. Dhaksha, a leading drone company in India, offers a range of Unmanned Aerial Systems (UAS) technology solutions for agriculture, defense, surveillance, and enterprise applications. Its agricultural drones have been designed specifically for precision agricultural spraying.
Dhaksha, now a step-down subsidiary of Coromandel, recorded a total income of ₹46.4 crore in FY24, primarily from the sale of drones and spare parts. The net loss before tax was ₹21 crore, compared to a loss of ₹22 lakhs in FY23.
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