Coromandel International Ltd, a leading agri-solutions provider in India, has announced the acquisition of a 53% stake in NACL Industries for ₹820 crore.
The deal, priced at ₹76.7 per share, will be executed through a share purchase agreement with the current promoter, KLR Products. Additionally, Coromandel plans to make an open offer for up to 26% of NACL’s equity share capital, as per SEBI’s takeover regulations.
The acquisition marks a strategic expansion for Coromandel in the crop protection segment, enhancing its domestic formulation business and technical capabilities. NACL, known for its strong presence in branded formulations, exports technical-grade agrochemicals to key global markets and has established contract manufacturing operations with multinational agrochemical companies.
NACL operates advanced technical and formulation plants in Andhra Pradesh and has a centralised research and development (R&D) facility near Hyderabad. The company has also invested in a technical-grade manufacturing facility at Dahej, enabling it to produce active ingredients for agrochemical formulations.
With over 2 decades of contract manufacturing experience, NACL has built long-term partnerships with global agrochemical firms.
Coromandel’s Executive Chairman, Arun Alagappan, highlighted that the acquisition aligns with the company’s long-term growth vision by combining its extensive distribution network with NACL’s manufacturing expertise.
Managing Director and CEO Sankarasubramanian emphasised that Coromandel’s financial strength, global reach, and supply chain efficiencies would enhance NACL’s operations, accelerating product development and market expansion.
As of March 13, 2025, at 11:05 AM, the shares of Coromandel International are trading at ₹1,782.90 per share, up by 1.19% from the previous closing price.
The acquisition of NACL Industries solidifies Coromandel International’s position as a key player in India’s crop protection sector. By leveraging NACL’s manufacturing capabilities and global partnerships, Coromandel aims to expand its product portfolio, strengthen contract manufacturing operations, and enhance its research and innovation capabilities. The transaction is subject to regulatory approvals and is expected to be completed in the coming months.
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Published on: Mar 13, 2025, 2:13 PM IST
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