Coromandel International Limited has informed the Exchange regarding Resignation of Dr. Raghuram Devarakonda as Executive Director of the company w.e.f. August 08, 2025.
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Dr. Raghuram Devarakonda has resigned as Executive Director (CPC, Bio & Retail) of Coromandel International with immediate effect from August 8, 2025. The reason is not a dispute or performance issue — he has been nominated by Coromandel to the Board of NACL Industries Limited as part of the Share Purchase Agreement signed on March 12, 2025, under which Coromandel is acquiring NACL Industries from KLR Products Limited and related promoters. The Board noted the resignation at its meeting held the same day. A copy of the resignation letter and the required disclosure annexure have been filed with the exchanges.
This is a planned, strategic transition tied to Coromandel's acquisition of NACL Industries rather than a sudden exit, so it is unlikely to be negative for shareholders. Investors should focus on the broader NACL acquisition progress for the stock's medium-term direction.