Indo Borax completes acquisition of 64.26% stake in Kronox Lab Sciences, appoints Suresh Kalra as MD & CEO

Indo Borax & Chemicals completes acquisition of a 64.26% stake in Kronox Lab Sciences.

Thu 1 Oct 2026

Stake Acquired

64.26% stake in Kronox Lab Sciences

Erstwhile Promoter Stake

9.95%

Target FY2026 Revenue

approximately INR 101 crore

Target FY2026 Profit After Tax

approximately INR 28 crore

Product Portfolio

more than 185 products

Indo Borax completes Kronox Lab Sciences acquisition, names new leadership

What was announced

• Indo Borax & Chemicals Limited completed its acquisition of a 64.26% stake in Kronox Lab Sciences Limited on September 29.
• The erstwhile promoters of Kronox retain a 9.95% stake.
• Mr. Suresh Kalra has been appointed Managing Director and Chief Executive Officer, and Mr. Shashikant Bharuka has been appointed Chief Financial Officer and Key Managerial Personnel at Kronox.

New Board and committees

• The new Board has three executive directors and three independent directors, bringing experience across chemicals, manufacturing, finance, banking, legal and corporate governance.
• The Board has reconstituted the Audit Committee, the Nomination and Remuneration Committee, the Stakeholders Relationship Committee and the Corporate Social Responsibility Committee.

The incoming leadership

• Mr. Kalra has been appointed Managing Director and CEO for a period of five years.
• He has more than 25 years of leadership experience in the chemicals industry, across global operations, profit and loss management, manufacturing, strategic planning and international business expansion in India, the US, the Middle East and Asia Pacific.

What Kronox Lab Sciences does

• Incorporated in 2008 and headquartered at Vadodara, Gujarat, the company manufactures high-purity specialty fine chemicals, including excipients, reagents, buffers and intermediates.
• Its products serve the pharmaceutical, nutraceutical, biotechnology, agrochemical, scientific research, laboratory testing, metallurgy and personal care industries.
• It operates multiple manufacturing units in Gujarat and markets a portfolio of more than 185 products across domestic and export markets.
• It reported revenue of approximately INR 101 crore and profit after tax of approximately INR 28 crore for FY2026.

What Indo Borax does

• Established in 1980, the company manufactures boron-based chemicals and produces boric acid.
• Its manufacturing facilities are at Pithampur, Madhya Pradesh, producing Boric Acid, Disodium Octaborate Tetrahydrate (D.O.T.) and Borax.
• It also manufactures Pharma Grade Boric Acid as per the Indian Pharmacopoeia, and was among the first companies in India to receive a BIS licence for manufacturing Technical Grade Boric Acid.

In simple terms

This update records the completion of the change in shareholding at Kronox, the leadership now in place, and a brief profile with the reported revenue and profit of the acquired business. Investors can follow how the two businesses progress together from here.

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