India's largest boric acid player, Indo Borax & Chemicals, expands leadership team; Eyes high growth and product diversification

VMPL
Mumbai (Maharashtra) [India], May 14: Indo Borax and Chemicals Ltd(BSE: 524342; NSE: INDOBORAX), India's leading manufacturer of boron-based chemicals, announced an expansion of its leadership team and Board of Directors, as industry stalwart Suresh Kalra assumed charge as the new Managing Director & CEO.
Mr. Kalra, a reputed leader in the Global chemicals sector, commands a rich experience in scaling businesses. He has held senior leadership roles at Aquapharm Chemical Limited, hubergroup Germany, SI Group & WR Grace, leading large-scale manufacturing operations, P&L management, and strategic business expansion. Mr. Kalra excels in manufacturing operations, international business, cross-border leadership, turnaround, and expansion. At Indo Borax, Mr. Kalra is driving strategy and business growth to new product categories and regions.
Mr. Kalra will be supported by a new core leadership team of seasoned professionals: Kamlesh Joshi, Chief Commercial Officer & CHRO; Shashikant Bharuka, Chief Financial Officer; and Govind Parmar, a veteran Indo Borax professional who currently serves as Director, Factory. Besides Harsh Malhotra, a second-generation entrepreneur and representative of the new promoter group - Zenrock Chemicals, has been appointed as the Company's Executive Director.
Mr. Malhotra brings over a decade of international experience in operations, supply chain management, and strategic planning. Before joining Indo Borax, Harsh worked at Amazon in the USA, where he led large-scale operations and planning across multiple geographies. Mr. Malhotra holds a Master of Science in International Business from the Ivey Business School and a Bachelor of Commerce from McGill University.
Mr. Joshi, the company's new CCO & CHRO, brings over 25 years of experience in the speciality chemicals and distribution industry, with leadership roles at Brenntag, hubergroup, SI Group, and AkzoNobel. An MBA by education, Mr. Joshi commands deep expertise in commercial strategy, supply chain management, and business development across domestic and international markets.
Mr. Bharuka, the new CFO, is a qualified Chartered Accountant and Company Secretary with over 24 years of experience in finance, accounting, and corporate reporting. He has held senior finance roles in leading pharmaceutical companies, including Lupin, UnichemLaboratories, and Ajanta Pharma.
Management Comment
Commenting on the development, Suresh Kalra, Managing Director & CEO of Indo Borax, said: "Indo Borax has built a leadership position owing to its niche product presence, scale and efficiency--however, the future calls for a larger canvas, which offers an unprecedented opportunity to start afresh. The new leaders bring a global experience set designed to steer the company to the next orbit. This strategic leadership underscores Indo Borax's commitment to building a high-performance organisation with deep domain expertise and strong execution capabilities. The company aims to leverage this strengthened leadership to expand its footprint, optimise operations, and accelerate innovation-led growth in the coming years".
About Indo Borax & Chemicals Ltd.
Indo Borax & Chemicals Ltd., established in 1980, is India's leading manufacturer of boron-based chemicals and the industry benchmark for Boric Acid. Being the only company to have a license from the Food and Drug Administration (FDA) for manufacturing Pharma Grade Boric Acid as per the Indian Pharmacopoeia, Indo Borax operates the most modern Boric Acid, Disodium Octaborate Tetrahydrate (D.O.T.), and Borax plant at Pithampur, Madhya Pradesh. It was also the first company in India to receive a BIS license for manufacturing Technical Grade Boric Acid.
Backed by over 28,000 shareholders, Indo Borax was featured in Forbes Asia Pacific's Top 200 Under A Billion Dollar Public Companies (2023) and recognised by The Economic Times for its value-driven growth approach.
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