Coromandel International completes acquisition of 53% controlling stake in NACL Industries Ltd.
- Sub Editor
- Aug 8
- 4 min read
Coromandel International Limited (BSE: 506395, NSE: COROMANDEL) India’s leading agri solutions provider and part of the Murugappa Group, today announced the successful closure of the Share Purchase Agreement (SPA) for the acquisition of promoter shareholding in NACL Industries Ltd. (NACLIND). With this transaction, Coromandel has formally acquired a controlling stake of 53% in NACL. The ongoing Open Offer to acquire up to 26% additional stake from public shareholders under the SEBI Takeover Regulations remains in process and shall follow the prescribed regulatory timelines.
Following the 53% stake acquisition, Mr. Natarajan Srinivasan, Mr. S Sankarasubramanian and Dr. Raghuram Devarakonda have joined the Board of NACL Industries today.
In addition, the Board of NACL Industries Ltd., at its meeting held today, approved the appointment of Dr. Raghuram Devarakonda as Managing Director & CEO. He previously served as Executive Director, Crop Protection, Bio Products and Retail businesses at Coromandel and brings with him extensive leadership experience and deep domain expertise across the value chain.
Commenting on the development, Mr. Arun Alagappan, Executive Chairman of Coromandel International, said, “We are pleased to welcome NACL Industries Ltd. into the Coromandel and the larger Murugappa family. This acquisition aligns with our long-term strategic roadmap to enhance our presence in the agri-solutions space. With the new leadership team in place, we are confident that NACL will accelerate its journey of innovation and growth.”
About Coromandel
Coromandel International Limited is amongst India's pioneers and leading Agri solutions provider, offering diverse products and services across the farming value chain. It operates in two major segments: Nutrient and other allied businesses and Crop Protection. These include Fertiliser, Crop Protection, Bio Products, Specialty Nutrients and Organic businesses. The Company is 2nd largest manufacturer and marketer of Phosphatic fertiliser in India. The Company's Crop Protection products are marketed in India as well as in international geographies, offering wide range of technical and formulation products. The Specialty Nutrients business of the Company focuses on water soluble fertiliser, secondary & micronutrients and nano fertiliser products. The Company is leading marketer of Organic fertiliser in India. The Bio Products business of the company focuses on plant extractions for various applications. It also operates a network of around 900+ rural retail outlets across Andhra Pradesh, Telangana, Karnataka and Tamil Nadu. Through these Retail outlets, the Company offers agri inputs and farming services including crop advisory, soil testing and farm mechanisation to around 3 million farmers. The Company has 7 R&D centres and a strong Regulatory setup, supporting the businesses in process development and new product introduction.
The Company has 18 manufacturing facilities, spread widely across India, producing wide range of Nutrient and Crop Protection products, which are marketed through an extensive network of dealers and its own retail centres.
The Company clocked a turnover of Rs. 24,444 Crores during FY24-25. Its efforts towards environment have been well recognised by international organisations like UNDP and has also been voted as one of the ten greenest companies in India by TERI. Coromandel is part of the INR 778 billion (₹77,881 crore) Murugappa Group.
For more details, visit www.coromandel.biz
About Murugappa Group
A 124-year-old conglomerate with presence across India and the world, the INR 778 billion (77,881 crore) Murugappa Group has diverse businesses in agriculture, engineering, financial services and more.
The Group has 9 listed companies: Carborundum Universal Limited, CG Power & Industrial Solutions Limited, Cholamandalam Financial Holdings Limited, Cholamandalam Investment & Finance Company Limited, Coromandel International Limited, EID Parry (India) Limited, Shanthi Gears Limited, Tube Investments of India Limited and Wendt India Limited. Other major companies include Cholamandalam MS General Insurance Company Limited and Parry Agro Industries Limited. Brands such as Ajax, Hercules, BSA, Montra, Montra Electric, Mach City, Chola, Chola MS, CG Power, Shanthi Gears, CUMI, Gromor, Paramfos, Parry’s are part of the Group’s illustrious stable.
Abrasives, technical ceramics, electro minerals, electric vehicles, auto components, fans, transformers, signalling equipment for railways, bicycles, fertilisers, sugar, tea and several other products make up the Group’s business interests.
Guided by the five lights — integrity, passion, quality, respect and responsibility — and a culture of professionalism, the Group has a workforce of over 83,500 employees.
For more details, visit www.murugappa.com
About NACL
NACL has been an established, integrated player in the Agrochemical industry, having commenced business in 1993. The Company is reckoned as a reliable manufacturer of quality active Ingredients, intermediates and branded formulations and built sizeable businesses in Domestic Retail, Institutional and Export segments. Many of the Company’s customers are large MNCs with longstanding relationships. Retail formulations business has a nationwide distribution footprint with over 50 brands covering all major crops and product-categories such as Insecticides, Herbicides, Fungicides and Plant Growth Regulators.
NACL is a subsidiary of Coromandel International Limited (FY25 Revenue Rs. 24,444 crores), a leading Agri solutions provider, offering diverse products and services across the farming value chain.
For more information: visit https://naclind.com/
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