Coromandel International Limited announced the resignation of Dr. Raghuram Devarakonda (DIN: 09749805) from his position as Executive Director – CPC, Bio & Retail, effective immediately. The resignation is due to his nomination to the Board of NACL Industries Limited by the Company, in accordance with the terms of the Share Purchase Agreement dated March 12, 2025.
The Board of Directors acknowledged the resignation at its meeting held on August 8, 2025, which commenced at 12:10 p.m. and concluded at 12:50 p.m.
Dr. Raghuram Devarakonda’s resignation is in view of his nomination to the Board of NACL Industries Limited by the Company in accordance with the terms of the Share Purchase Agreement dated March 12, 2025 among the Company (Acquirer), KLR Products Limited (Promoter Seller), Mrs. Kanumuru Lakshmi Raju (Promoter), Bright Town Investment Advisor Private Limited (Promoter Group Party) and NACL Industries Limited (Target Company).
The company has confirmed that Dr. Devarakonda does not have any relationship with other directors.
Coromandel International has also provided the details of the resignation as required under Regulation 30 of the Listing Regulations read with the SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.
The company has requested the stock exchanges to take the above submission on record.
The intimation was submitted to the National Stock Exchange of India Limited and BSE Limited, with symbols COROMANDEL and scrip code 506395, respectively.
B. Shanmugasundaram, Company Secretary & Compliance Officer, has signed the intimation.
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