NACL Industries Limited has informed the Exchange about General Updates
NACLIND · price
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On the reaction day the stock moved 2.7 pts less than Nifty Microcap 250 and 1.6 pts less than its Pesticides & Agrochemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Coromandel International Limited (CIL) completed its acquisition of a 53.13% stake (10,68,96,146 equity shares) in NACL Industries from the existing promoters — KLR Products Limited, K. Lakshmi Raju, and Bright Town Investment Advisor Private Limited — under Share Purchase Agreements dated March 12, 2025, with the deal closing on August 8, 2025. CIL has become the new promoter of the company, triggering a change of control, and the erstwhile promoters have been reclassified as public shareholders. The board saw a major overhaul with 10 directors resigning (including the Chairperson K. Lakshmi Raju and Whole Time Director G V Bhadram) and several new directors appointed, including Dr. Raghuram Devarakonda as the new Managing Director and CEO. Statutory auditor B S R & Co resigned citing potential independence issues stemming from the new holding company relationship, and S. R. Batliboi & Associates LLP has been appointed as the new statutory auditor. A postal ballot will be sent to shareholders to approve the new appointments and amendments to the Articles of Association.
NACL Industries has effectively come under the control of the Murugappa Group (via Coromandel International), which may bring operational synergies, stronger financial backing, and strategic realignment in the agrochemicals sector. Shareholders should expect integration-driven changes in business strategy, governance, and operations going forward, though the transition period may bring short-term uncertainty.