Indo Borax & Chemicals has finalized its 64.26% stake acquisition in Kronox Lab Sciences, effective September 29, 2026. The move brings Suresh Kalra on board as MD & CEO alongside a restructured leadership team. With Kronox reporting FY26 revenue of INR 101 crore and PAT of INR 28 crore, the acquisition marks a major push into the specialty fine chemicals market. Investors should watch for operational synergies and integration progress under the new management.
Indo Borax Finalizes Kronox Lab Sciences Acquisition
Indo Borax & Chemicals has acquired a 64.26% stake in Kronox Lab Sciences effective September 29, 2026.
Financial targets for Kronox in FY26 include INR 101 crore in revenue and INR 28 crore in PAT.
Reader Takeaway: Acquisition boosts specialty chemical footprint; key focus now shifts to management integration and operational synergy execution.
What just happened
Indo Borax & Chemicals has successfully closed its acquisition of a majority 64.26% stake in Vadodara-based Kronox Lab Sciences. Former promoters will continue to hold a 9.95% stake in the business. Alongside the deal, the company has announced a total leadership overhaul at the subsidiary level. Suresh Kalra, a veteran with over 25 years of industry experience, has been appointed as the new Managing Director and CEO for a five-year term. Shashikant Bharuka joins the leadership team as the Chief Financial Officer.
Why this matters
This acquisition marks a strategic expansion for Indo Borax into high-purity speciality fine chemicals. Kronox operates a portfolio of over 185 items, including excipients, reagents, and buffers, serving various high-demand sectors. The installation of a professional board—comprising three executive and three independent directors—signals an emphasis on strengthening governance and scaling operations internationally. By restructuring committees like Audit and CSR, the parent company is positioning itself to streamline Kronox’s operational efficiency.
Context metrics
Kronox Lab Sciences reported revenue of INR 101 crore and a Profit After Tax of INR 28 crore for FY26. The company currently maintains multiple manufacturing facilities in Gujarat, which will now function under the expanded oversight of the new Indo Borax-led board.
What to track next
Investors should closely monitor the integration of Kronox's manufacturing units with Indo Borax's existing operations. Specifically, look for updates on cost-synergy realization and the new leadership team's strategy to expand the product reach of the existing 185-item portfolio in international markets.