Coromandel eyes India to LatAm boost from NACL

The Murugappa Group-owned Coromandel International Ltd is betting on its acquisition of NACL Industries Ltd to strengthen its domestic formulations business, Latin American presence and create synergies to establish a foothold in contract drug manufacturing, according to managing director (MD) S. Sankarasubramanian.

- Ranjani Raghavan

"NACL has a good presence in insecticides, herbicides and fungicides and the domestic market. This will help us establish a strong presence in the domestic formulations business," said Sankarasubramanian. "Besides, they are manufacturers for global MNCs and have been supplying them for over two decades."

Those relationships can also be leveraged for potential CDMO (contract development and manufacturing organization) opportunities later, he said in an interview with the Mint. Last year, Coromandel Industries said that it was diversifying into CDMO and specialty chemicals businesses.