NACL Industries Limited has informed the Exchange regarding Notice of Postal Ballot
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NACL Industries has sent a postal ballot notice to shareholders (e-voting open from August 19, 2025 to September 17, 2025) seeking approval for nine items. The key resolution is the appointment of Dr. Raghuram Devarakonda (DIN: 09749805) as Managing Director & CEO for a 3-year term (Aug 8, 2025 to Aug 7, 2028), with a basic salary of Rs. 12.01 lakh per month, allowances up to 300% of basic, and variable pay up to 70% of basic. The company is also appointing two new directors (Mr. Natarajan Srinivasan and Mr. S Sankarasubramanian) and three new Non-Executive Independent Directors (Mr. Suresh Subramanian, Mr. B Raghvendra Rao, and Mr. Sanjiv Lal), each for 5-year terms. M/s. S.R. Batliboi & Associates LLP is proposed as the new statutory auditor to fill a casual vacancy caused by the resignation of M/s. B S R & Co. Finally, the Articles of Association are being amended to remove provisions related to a Share Subscription and Shareholders' Agreement (SS&SA) with Krishi Rasayan, Agro Life, and the KLR group, which was terminated effective August 8, 2025.
This represents a sweeping leadership and governance overhaul at NACL Industries, including a new CEO, a largely reconstituted board, and a mid-term auditor change—all of which shareholders need to evaluate. The termination of the SS&SA with the Krishi Rasayan/Agro Life and KLR promoter groups, along with the AOA amendments, signals a meaningful shift in the company's shareholder dynamics that warrants close attention.