Primo Chemicals Limited has informed the Exchange regarding Board meeting held on August 14, 2025.
PRIMO · price
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Primo Chemicals' board approved four key items on August 14, 2025. First, M/s. A. Arora & Co. was appointed as Secretarial Auditor for a five-year term covering FY 2025-26 to FY 2029-30. Second, three Independent Directors — Tilak Raj Bajalia, Ashok Goyal, and Kuldip Singh Suhag — were re-appointed for a second five-year term starting December 1, 2025. Third, the company approved acquiring the remaining 51% stake in Flow Tech Chemicals Private Limited, a promoter group company that makes chlorinated paraffin and hydrochloric acid. Primo already holds 49% of Flow Tech, whose turnover was Rs. 275 crore in FY25. The deal is to close by December 31, 2025, at a fresh-valuation price, paid in cash. The 50th AGM was scheduled for September 30, 2025 via video conferencing. All appointments and the acquisition are subject to shareholder approval at the AGM.
Acquiring full ownership of Flow Tech (which already uses Primo's chlorine by-product) brings supply chain control and potential margin gains, though it is a related-party transaction with the promoter group requiring shareholder approval. Re-appointment of independent directors ensures board continuity. Watch for the AGM vote outcome and final acquisition valuation.