Indo Borax Acquires 64.26% Stake in Kronox Lab Sciences, Appoints Suresh Kalra as MD & CEO
Indo Borax & Chemicals completed the acquisition of a 64.26% stake in Kronox Lab Sciences on September 29. Suresh Kalra has been appointed as MD & CEO of Kronox for five years. Kronox reported ₹101 crore revenue and ₹28 crore profit in FY2026.
The acquisition of a significant stake in another company and leadership changes are material events that can impact future business performance and strategy.
The acquisition and appointment of a seasoned CEO indicate a strategic move for growth and operational enhancement, which is positive for the company.
Indo Borax & Chemicals Limited has successfully completed the acquisition of a 64.26% stake in Kronox Lab Sciences Limited, a specialty chemicals company. The erstwhile promoters of Kronox Lab Sciences will retain a 9.95% stake following the transaction.
As part of the leadership transition and to strengthen operational synergies, Indo Borax has appointed Mr. Suresh Kalra as the Managing Director and Chief Executive Officer of Kronox Lab Sciences for a period of five years. Mr. Kalra brings over 25 years of extensive leadership experience in the chemicals industry, with expertise in global operations, P&L management, manufacturing, strategic planning, and international business expansion.
Additionally, Mr. Shashikant Bharuka has been appointed as the Chief Financial Officer and Key Managerial Personnel at Kronox. The newly constituted Board of Directors for Kronox Lab Sciences comprises three executive directors and three independent directors, bringing diverse experience in chemicals, manufacturing, finance, banking, legal, and corporate governance. The company has also reconstituted its key committees, including the Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, and Corporate Social Responsibility Committee.
Kronox Lab Sciences, established in 2008 and headquartered in Vadodara, Gujarat, specializes in the manufacturing of high-purity specialty fine chemicals for various industries, including pharmaceutical, nutraceutical, biotechnology, and agrochemical. The company offers over 185 products and reported a revenue of approximately ₹101 crore and a profit after tax of approximately ₹28 crore for FY2026.
Indo Borax & Chemicals Ltd., established in 1980, is a manufacturer of boron-based chemicals, including Boric Acid and Disodium Octaborate Tetrahydrate, with manufacturing facilities in Pithampur, Madhya Pradesh.
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Indo Borax & Chemicals Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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