He was 96 and leaves behind his son, D Lakshminarayanasamy, Joint Managing trustee of SNR Sons Charitable Trust and two daughers.
Naidu was founder chairman of Ramakrishna Mills and founder trustee of SNR Sons Charitable Trust and instrumental in building Sri Jagannatha Perumal Tenmple in Siddhapudur in the city, a Trust release said
The Trust runs hospitals and educational institutions in and around the city.
He was also chairman of Southern India Mills' Association and member of South India Textile Research Association.