The company is exploring options such as the issuance of equity shares, warrants, or other securities. The fundraising could include a preferential issue on a private placement basis or other methods, subject to shareholder approval and necessary regulatory or governmental sanctions.
The official announcement was made after market hours on Monday, 9 December 2024.
NACL Industries is engaged in the business of crop protection and manufactures both technicals (active ingredients) and formulations. It manufactures all kinds of pesticides, insecticides, acaricides, herbicides, fungicides and other plant growth chemicals. The company’s formulation business is mainly in the Indian market and sells through its large retail dealer network spread across India.
The company’s consolidated net profit soared to Rs 14.90 crore in Q2 FY25 as against Rs 4.08 crore posted in Q2 FY24. However, revenue from operations fell 24.1% YoY to Rs 440.31 crore in the quarter ended 30 September 2024.