Coromandel International seeks shareholder nod for director, NACL loan

Coromandel International will hold a postal ballot for shareholders to vote on two key resolutions: the re-appointment of Arun Alagappan as whole-time director and executive chairman, and the approval of an inter-corporate loan to NACL Industries Limited. The remote e-voting period for these resolutions commences on Thursday, November 6, 2025, and concludes on Friday, December 5, 2025.

Alagappan’s re-appointment as executive chairman is proposed for a five-year term, from February 15, 2026, to February 14, 2031, with a monthly basic salary of Rs. 33,48,000. He is also eligible for annual performance pay not exceeding 1.5 times his annual basic pay and various allowances up to 300% of his basic salary.

The company also proposes to extend an unsecured inter-corporate loan of up to Rs. 160,00,00,000 to NACL Industries Limited, a direct subsidiary. This loan, with a tenure of up to 18 months, aims to strengthen NACL's financial position and support its principal business activities. The interest rate will be up to 250 basis points over the prevailing yield of one-year government securities.