Indo Borax & Chemicals has moved to strengthen its operational control over specialty chemicals maker Kronox Lab Sciences following the completion of its acquisition of a 64.26% stake in the company.

 

As part of the leadership transition, Kronox has appointed Suresh Kalra as Managing Director and Chief Executive Officer and Shashikant Bharuka as Chief Financial Officer and Key Managerial Personnel.

 

The acquisition was completed on September 29, marking a new phase for Kronox following the change in shareholding. The erstwhile promoters continue to hold a 9.95% stake in the company.

 

Kalra, who has been appointed for a five-year term, brings more than 25 years of experience in the chemicals industry. His experience spans global operations, P&L management, manufacturing, strategic planning and international business expansion across India, the US, Middle East and Asia Pacific.

 

Commenting on his appointment, Suresh Kalra, Managing Director & CEO, Kronox Lab Sciences Ltd, said, “Kronox has built a strong foundation in high-purity speciality chemicals, supported by its manufacturing capabilities, technical expertise and growing presence across domestic and international markets. 

 

"I am excited to join the Company at this important juncture and look forward to working closely with the Board and the team to build on this foundation. Our focus will be on strengthening operations, expanding our capabilities, deepening customer relationships and pursuing sustainable growth opportunities across India and global markets.”

 

The company has also constituted a new Board comprising three executive directors and three independent directors. The board brings together experience spanning chemicals and manufacturing, finance, banking, legal affairs and corporate governance.

 

Alongside the board changes, Kronox has reconstituted its Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee and Corporate Social Responsibility Committee.

 

Incorporated in 2008 and headquartered in Vadodara, Gujarat, Kronox Lab Sciences manufactures high-purity specialty fine chemicals, including excipients, reagents, buffers and intermediates.

 

For FY2026, the company reported revenue of approximately Rs 101 crore and profit after tax of approximately Rs 28 crore.