NACL Industries Limited has informed the Exchange regarding Change in Auditors of the company.
NACLIND · price
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Coromandel International Limited (CIL) completed the acquisition of 10,68,96,146 equity shares (53.13%) of NACL Industries on August 8, 2025, becoming the new promoter and triggering a change of control. The erstwhile promoters (KLR Products, K. Lakshmi Raju, Bright Town Investment Advisor) will be reclassified as 'public' shareholders. As a result, 10 directors resigned en masse — including the Chairperson K. Lakshmi Raju, Whole Time Director G.V. Bhadram, two nominee directors, and five independent directors. A new board was constituted: Dr. Raghuram Devarakonda (ex-Accenture, ex-Ramco Cements COO) was appointed as MD & CEO for 3 years, along with 2 non-independent and 3 new independent directors. Statutory auditor B S R & Co resigned mid-term citing independence issues from the ownership change, and S. R. Batliboi & Associates LLP was appointed in their place, subject to shareholder approval.
This is a transformational event for NACL Industries — the company now becomes part of the Murugappa Group's Coromandel International fold, likely bringing stronger financial backing, strategic synergies in agri-inputs, and governance changes. Shareholders should expect strategic direction shifts under the new management, with shareholder approvals sought via postal ballot for the new appointments and auditor change.