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Coromandel International Acquires 53% Stake in NACL Industries for ₹820 Crore

Synopsis:

Coromandel International Ltd has signed definitive agreements to acquire a 53.13% stake in NACL Industries for ₹820 crore at ₹76.70 per share. The acquisition strengthens Coromandel’s crop protection business and contract manufacturing operations. The Coromandel International Ltd share price closed 2.01% higher following the announcement.

 

Coromandel International Ltd has announced the acquisition of a 53.13% stake in NACL Industries Ltd for ₹820 crore. The deal, priced at ₹76.70 per share, will see Coromandel acquiring shares from the existing promoter, KLR Products Limited. This acquisition strengthens Coromandel’s position in the Indian crop protection industry, expanding its portfolio of technicals and formulations while accelerating its entry into contract manufacturing. The Coromandel International Ltd share price saw a 2.01% increase following the news, closing at ₹1,758.00 on the BSE.

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Key Takeaways

  1. Coromandel International Ltd acquires 53.13% stake in NACL Industries for ₹820 crore at ₹76.70 per share.

  2. The deal includes an open offer to acquire up to 26% additional stake from public shareholders.

  3. Acquisition enhances Coromandel’s technicals, formulations, and contract manufacturing capabilities.

  4. NACL Industries has manufacturing plants in Andhra Pradesh and an R&D facility near Hyderabad.

  5. The Coromandel International Ltd share price closed 2.01% higher at ₹1,758.00 on the BSE.

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Expansion into Crop Protection and Contract Manufacturing

The acquisition of NACL Industries positions Coromandel as a key player in the Indian crop protection sector. NACL has a strong domestic presence with branded formulations and exports technicals to global markets. The acquisition allows Coromandel to expand its product portfolio and fast-track the commercialisation of new agrochemical solutions.

In addition to strengthening its crop protection business, the deal accelerates Coromandel’s entry into contract manufacturing. NACL has established long-term partnerships with multinational agrochemical firms, providing contract manufacturing services for over two decades. The acquisition enables Coromandel to scale its operations and capitalise on growing demand in the segment.

NACL Industries’ Manufacturing and R&D Capabilities

NACL operates multiple manufacturing facilities, including technical and formulation plants in Andhra Pradesh. The company also has a centralised research and development facility near Hyderabad. Its subsidiary has recently invested in a technical-grade facility at Dahej, which is equipped to manufacture active ingredients for agrochemical products.

Company

Stake Acquired

Acquisition Cost

Per Share Price

Coromandel International Ltd

53.13%

₹820 crore

₹76.70

NACL Industries Ltd

10.68 crore shares

-

-

Open Offer (Public)

Up to 26%

Pending

₹76.70

Market Impact and Future Outlook

The acquisition marks a significant step for Coromandel International Ltd in expanding its footprint in the agrochemical market. The deal is subject to regulatory approvals and is expected to be finalised in the coming months. As Coromandel strengthens its business with new manufacturing capabilities and market expansion, investors are closely monitoring the Coromandel International Ltd share price for further developments.

Coromandel International Ltd’s acquisition of a majority stake in NACL Industries aligns with its strategic growth plans in the crop protection industry. With a strengthened product portfolio, enhanced manufacturing capabilities, and entry into contract manufacturing, Coromandel is poised for long-term growth. The impact of this deal on its business performance and stock price will be closely watched in the coming quarters.

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