The Murugappa group company Coromandel International is ready to gain 53% stake in Agrochemical Company NACL Industries (East Nagarjuna Agricham) for ₹ 820 crore, leading to one of the major Indian crop conservation players.
This will acquire a share of Rs 76.7 per share from the current promoter KLR Products Limited, in a release, Coromandal International on Wednesday announced in a release announced to sign a certain agreements to get a controlled stake in NACL Industries.
The transaction is subject to regulatory approval and is likely to be completed in the next few months. Coromandel has also proposed to an open offer to the public to acquire up to 26% of the Equity of NACL industries, as required under the SEBI acquisition rules. The integrated business of NACL Industries in 2023-24 was 1,787 crore.
A crop conservation player with technical and positive plants in Andhra Pradesh, Hyderabad NACL has a strong branded fractional business in domestic markets, in addition to a centralized research and development facility, promotes the attendance in contracting operations with technical exports and global multinational agrochemical firms.
NACL’s subsidiary recently invested in technical grade facility in Dahej, capable of manufacturing active materials, Coromandals said.
The acquisition will be in the position of Coromandel as one of the leading players in the Indian crop conservation industry, with a wide range of technical and the presence of Pan India in the domestic formulation business. It will also help expand the scale, to speed up its entry into the contract construction business, rapidly track the new product commercialization and expand your product portfolio.
“The decision to get NACL Industries is a natural expansion of the company’s development vision. We are determined for a significant increase in operational scale, combining our comprehensive distribution networks and deep industry expertise with the manufacturing capabilities of NACL, diverse product portfolio and large yogas. The acquisition not only expands our scale, but also enables us to tap in critical customer segments and secure strategic CDMO relationships, ”said Arun Alagappan, executive president of Coromandals.
Managing Director and CEO S.Sankarasubramanian said, “With joint coordination in R&D and manufacturing, we can accelerate market strategy for new products and intermediates, leading to an increase in our product offerings in domestic and global markets.”
An agricultural solution provider coromendal operates in two major segments – nutrients and other affiliated businesses and crop protection. These include fertilizer, crop protection, bio -products, special nutrients and organic businesses.
Published – March 12, 2025 10:46 pm IST
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