HYDERABAD, 9 July 2025: The Competition Commission of India (CCI) has approved Coromandel International Ltd.’s (CIL) proposed acquisition of a 53% stake in NACL Industries Ltd. for INR 820 crore, enabling a major consolidation in India’s agrochemical sector.
With this approval, Murugappa Group-backed Coromandel can proceed with the majority acquisition announced in March 2025. The transaction strengthens Coromandel’s position in the crop protection space, building on its diversification strategy beyond its flagship fertiliser segment.
In a release, the CCI stated, “The proposed combination comprises acquisition of certain equity shares in NACL Industries Ltd by Coromandel International Ltd.”
NACL Industries, a listed company headquartered in Hyderabad, manufactures and markets a broad portfolio of technical-grade agrochemicals and formulations for domestic and international markets. The acquisition is expected to help Coromandel deepen its presence in backward integration of active ingredients and scale its global formulations business.
CIL, which operates across two key verticals—nutrients & allied businesses and crop protection—has been making strategic investments in tech-driven agri-solutions and specialty chemicals, in line with global shifts toward sustainable and integrated agri-inputs.
Industry analysts view the deal as part of a larger trend wherein agro-input majors are securing upstream capabilities and intellectual property portfolios to reduce dependence on imports and strengthen supply chain resilience.
The deal awaits final procedural closures and is expected to be completed in the coming quarters.
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