Acquisition Details
Indo Borax & Chemicals Limited completed the acquisition of 64.26% stake in Kronox Lab Sciences Limited on September 29, 2026. The erstwhile promoters of Kronox Lab Sciences retained 9.95% stake post-acquisition.
Leadership Appointments
Kronox Lab Sciences Limited appointed Mr. Suresh Kalra as Managing Director and Chief Executive Officer for a period of five years. Mr. Shashikant Bharuka was appointed as Chief Financial Officer and Key Managerial Personnel.
Management Background
Mr. Suresh Kalra brings more than 25 years of leadership experience in the chemicals industry with expertise across global operations, P&L management, manufacturing, strategic planning and international business expansion across India, the US, Middle East and Asia Pacific.
Board Composition
A new Board was constituted with three executive directors and three independent directors, bringing experience across chemicals and manufacturing, financial management, banking, legal and corporate governance. The Board reconstituted the Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee and Corporate Social Responsibility Committee.
About Kronox Lab Sciences Limited
Incorporated in 2008 and headquartered at Vadodara, Gujarat
Manufactures high-purity specialty fine chemicals including excipients, reagents, buffers and intermediates
Serves pharmaceutical, nutraceutical, biotechnology, agrochemical, scientific research, laboratory testing, metallurgy and personal care industries
Operates multiple manufacturing units in Gujarat
Markets a portfolio of more than 185 products across domestic and export markets
Reported revenue of approximately ₹101 crore for FY2026
Reported profit after tax of approximately ₹28 crore for FY2026
About Indo Borax & Chemicals Limited
Established in 1980
Manufacturer of boron-based chemicals and producer of Boric Acid
Operates manufacturing facilities at Pithampur, Madhya Pradesh
Produces Boric Acid, Disodium Octaborate Tetrahydrate (D.O.T.) and Borax
Manufactures Pharma Grade Boric Acid as per Indian Pharmacopoeia
Among the first companies in India to receive BIS licence for manufacturing Technical Grade Boric Acid
Strategic Commentary
Mr. Suresh Kalra stated: "Kronox has built a strong foundation in high-purity speciality chemicals, supported by its manufacturing capabilities, technical expertise and growing presence across domestic and international markets. Our focus will be on strengthening operations, expanding our capabilities, deepening customer relationships and pursuing sustainable growth opportunities across India and global markets."
The acquisition strengthens operational synergies between the two companies in the specialty chemicals sector and marks a new phase in Indo Borax's growth following the change in shareholding.