Coromandel International Limited , one of India’s leading agri-solutions companies and part of the Murugappa Group, has completed the acquisition of a 53 per cent controlling stake in NACL Industries Ltd. (NACLIND) through the successful closure of a Share Purchase Agreement (SPA) for the promoter shareholding.

The acquisition marks a significant milestone in Coromandel’s expansion strategy within the crop protection and agri-inputs space. The company’s ongoing Open Offer to acquire up to 26 per cent additional equity from public shareholders under SEBI Takeover Regulations remains in progress, with closure expected as per the prescribed timelines.

As part of the transition, Natarajan Srinivasan, S. Sankarasubramanian, and Dr. Raghuram Devarakonda have joined the NACL Industries Board. The Board has also approved the appointment of Dr. Raghuram Devarakonda—formerly Executive Director, Crop Protection, Bio Products, and Retail at Coromandel—as Managing Director & CEO. Dr. Devarakonda brings deep domain expertise, leadership acumen, and a track record of scaling high-value agri businesses.

“We are pleased to welcome NACL Industries into the Coromandel and Murugappa family,” said Arun Alagappan, Executive Chairman of Coromandel International. “This acquisition aligns with our long-term strategic roadmap to enhance our footprint in the agri solutions sector. With a strengthened leadership team, we are confident NACL will accelerate its journey of innovation, growth, and market leadership.”

The move consolidates Coromandel’s position as a diversified agri-inputs major—spanning fertilisers, crop protection, retail, and bio-products—while opening fresh synergies in product development, market reach, and sustainability-led innovation.