Kronox Lab Sciences

Kronox Lab Sciences' board approved the acquisition of a plant admeasuring about 5,000 square metres at Z/80, Dahej SEZ from Axiom Chemicals Private Limited to expand manufacturing capacity. The purchase will be for cash funded through internal accruals and is expected to close within a month subject to Development Commissioner/SEZ transfer approvals and execution of definitive agreements, with no shares of the seller being acquired. The company operates three units at Padra-Vadodara with 7,242 tonnes of installed capacity and holds a 20,471 square metre leasehold at GIDC Dahej-II where a fourth derivatives plant awaits central environmental clearance. Revenue was about Rs 101 crore in the year to March 2026 with net profit of about Rs 27.7 crore, cash and fixed deposits of roughly Rs 67 crore with negligible debt, and a 64.26% controlling stake transferred to Indo Borax & Chemicals on 29 September 2026.

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Kronox Lab Sciences transferred 2,38,44,000 shares constituting 64.26% of equity to Indo Borax & Chemicals on 29 September 2026 under the share purchase agreement signed on 20 August 2026. The three sellers retained 36,90,000 shares constituting 9.95% and ceased to be members of the promoter group. The board appointed Suresh Kalra as managing director and chief executive, Sunil Malhotra and Harsh Malhotra as executive directors, Amit Kumar Sharma, Anuradha Maheshwari and Dhananjay Tapasvi as independent directors and Shashikant Bharuka as chief financial officer, while the three founder executives, the incumbent chief financial officer and three independent directors resigned and all board committees were reconstituted. The board approved 36-month transition consultancy agreements with each outgoing founder at a fixed fee of ₹2.10 crore covering research, production, quality and the proposed Dahej-II facility. Kronox manufactured high-purity speciality fine chemicals across about 185 products from three units at Padra-Vadodara with installed capacity of 7,242 tonnes. It reported revenue of ₹101.22 crore and net profit of ₹27.66 crore in the year to March 2026. Cash and fixed deposits stood at about ₹67 crore against equity of about ₹116 crore with only vehicle-loan debt. Revenue in the June quarter was ₹28.39 crore, up 16.9% from a year earlier.

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Kronox Lab Sciences completed the transfer of 2,38,44,000 equity shares representing 64.26% of its capital to Indo Borax & Chemicals on 29 September, with the acquirer taking control and becoming promoter. The three sellers retained 36,90,000 shares aggregating 9.95% and sought reclassification to public status subject to regulatory clearance. The transfer implemented a share purchase agreement signed on 20 August for Rs 246.12 crore at Rs 103.22 per share, alongside an open offer for up to 95.70 lakh shares at Rs 157.27 per share. Kronox made high-purity speciality fine chemicals across about 185 products from three units at Padra-Vadodara, with a fourth plant at Dahej under development pending central clearance. It reported revenue of Rs 101.22 crore and net profit of Rs 27.66 crore in the year to March, with cash and deposits of about Rs 67 crore and only vehicle-loan debt. Revenue grew 16.9% to Rs 28.39 crore in the June quarter after three broadly flat years.

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Kronox Lab Sciences transferred 2,38,44,000 equity shares constituting 64.26% of its capital to Indo Borax & Chemicals on 29 September 2026 pursuant to the share purchase agreement dated 20 August 2026. The three sellers retained 36,90,000 shares aggregating 9.95% and ceased to be members of the promoter group, while the board recorded the transfer and approved a wholesale leadership overhaul. Suresh Kalra joined as managing director and chief executive officer, Sunil Malhotra joined as whole-time director and Harsh Malhotra as executive director, alongside three new independent directors and chief financial officer Shashikant Bharuka, as the three founder directors, three sitting independents and chief financial officer Samir Gadhiya resigned. The board also approved 36-month consultancy agreements with each of the three former promoters at a fixed fee of Rs 2.1 crore apiece for research, production, quality and special projects including the proposed Dahej-II facility. The agreement had been signed for about Rs 246.12 crore at Rs 103.22 per share, with a draft letter of offer filed on 4 September for up to 95.7 lakh shares at Rs 157.27 per share. Kronox manufactured high-purity speciality fine chemicals across about 185 products from three units at Padra-Vadodara and reported standalone revenue of about Rs 101.2 crore in FY26 with net profit of about Rs 27.7 crore, net debt near zero and cash and fixed deposits of about Rs 67 crore.

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Sept 29 (Reuters) - Kronox Lab Sciences Ltd KROO.NS:

• APPOINTS SHASHIKANT BHARUKA AS CFO

• JOGINDERSINGH GIANCHAND JASWAL RESIGNS AS MD

• SAMIR GADHIYA RESIGNS AS CFO

Source text: ID:nBSE2Phcqp

Further company coverage: KROO.NS

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Kronox Lab Sciences became the subject of a mandatory open offer after Indo Borax and Chemicals and Zenrock Chemicals agreed to acquire 64.26% of the company from three existing promoters under a share purchase agreement dated 20 August 2026. The SPA covered 2.38 crore shares for ₹246.1 crore at ₹103.22 a share, while the buyers offered ₹157.27 a share for up to 95.7 lakh public shares, or 25.79% of voting capital, for a maximum ₹150.5 crore. If the offer was fully accepted, Indo Borax's holding would rise to 90.05% and it would become Kronox's promoter; the existing sellers would be reclassified as public shareholders, while the buyers said they did not intend to delist the company. Kronox had reported FY26 revenue of ₹101.2 crore and held ₹48.7 crore in cash and fixed deposits, with three Vadodara units providing stated capacity of 7,242 MTPA.

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Indo Borax & Chemicals agreed to acquire a 64.26% stake in Kronox Lab Sciences, the Vadodara-based speciality chemicals maker, under a share purchase agreement signed with Zenrock Chemicals and Kronox's promoters. Indo Borax's board also approved an open offer, with Zenrock acting in concert, for up to 95.70 lakh Kronox shares, or 25.79% of the company. Completion was indicated within three months of signing, while Kronox's existing promoters were to retain a 9.95% stake and provide transition support. Kronox operated three Vadodara units with stated capacity of 7,242 MTPA, sold more than 185 products, and reported FY26 revenue of about ₹101 crore and profit after tax of roughly ₹28 crore.

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Kronox Lab Sciences’ three promoters—Ketan Vinodchandra Ramani, Pritesh Vinodchandra Ramani and Jogindersingh Gianchand Jaswal—signed a share-purchase agreement on August 20 to sell 23.844m shares, representing 64.26% of the company, to Indo Borax & Chemicals and its concert party Zenrock Chemicals. The SPA price was ₹103.22 a share, implying consideration of about ₹246.1 crore, while the price including transition consultancy fees was ₹105.87 a share. The transaction was subject to conditions precedent and required the buyers to make a mandatory tender offer to public shareholders under takeover rules. On completion, the sellers were to relinquish control and be reclassified as public shareholders, while Indo Borax would become promoter, Zenrock promoter group and three nominee directors would join the board. Kronox had reported FY26 revenue from operations of about ₹101 crore and held cash and fixed deposits of ₹48.74 crore at year-end.

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Aug 20 (Reuters) - Indo Borax and Chemicals Ltd IBCH.NS:

• TO BUY 64.26% STAKE OF KRONOX LAB FOR 2.46 BILLION RUPEES AT 103.22 RUPEES PER SHARE

• OPEN OFFER FOR KRONOX LAB SHARES AT 157.27 RUPEES PER SHARE

• OPEN OFFER FOR UP TO 25.79% STAKE OF KRONOX LAB SCIENCES APPROVED

Source text: ID:nBSE89prx3

Further company coverage: IBCH.NS

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Sept 23 (Reuters) - Kronox Lab Sciences Ltd KROO.NS:

• KRONOX LAB SCIENCES LTD - RECEIVES APPROVALS FOR UNIT-IV CONSTRUCTION AT DAHEJ

• KRONOX LAB SCIENCES LTD - RECEIVES ENVIRONMENTAL CLEARANCE FROM CENTRAL GOVERNMENT

Source text: ID:nBSEzS2gw

Further company coverage: KROO.NS

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July 25 (Reuters) - Kronox Lab Sciences Ltd KROO.NS:

• KRONOX LAB SCIENCES - RE-APPOINTMENT OF JOGINDERSINGH JASWAL AS CMD

Source text: ID:nNSE6fQSvN

Further company coverage: KROO.NS

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