NACL Industries Limited has informed the Exchange regarding Resignation of Ms BSRandco as Statutroy Auditors of the company w.e.f. August 08, 2025.
NACLIND · price
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NACL Industries saw a major reshuffle on August 8, 2025 as Coromandel International Limited (CIL) completed the acquisition of 53.13% stake (10.68 crore shares) and took over as the new promoter, triggering a cascade of board-level changes. The previous promoter group (KLR Products, K. Lakshmi Raju, Bright Town Investment Advisor) will be reclassified as public shareholders. Statutory auditor B S R & Co. resigned mid-term citing potential independence issues from non-audit services to the new holding company, and S.R. Batliboi & Associates LLP was appointed as the new statutory auditor. Dr. Raghuram Devarakonda (ex-Accenture, Ramco Cements COO) was appointed as the new Managing Director & CEO for 3 years, while 10 directors including the Chairperson K. Lakshmi Raju and Whole Time Director G V Bhadram resigned with immediate effect. Five new directors were inducted, mostly senior professionals from the Murugappa Group (Coromandel's parent) and industry veterans.
This is a transformative event for NACL shareholders — Coromandel's takeover brings a strong, well-funded promoter and access to the Murugappa Group's distribution and operational expertise, which is positive for long-term growth. However, the change brings near-term disruption: an entire board overhaul, auditor change, and leadership transition may cause short-term volatility as the market digests the new strategic direction under Coromandel.