Aarti Industries, a leading manufacturer and exporter of Chemicals and Pharmaceuticals, has received an in-principle approval to formulate the scheme for the merger of manufacturing division of Anushakti Chemicals and Drugs into Aarti Industries and to consider further steps to be taken in this regard. The board at its meeting held on July 14, 2012 has approved for the same. Anushakti Chemicals & Drugs is an associate company of Aarti Industries, with Aarti Industries holding 49.6% equity stake in Anushakti Chemicals & Drugs.
Anushakti Chemicals & Drugs is mainly engaged into manufacturing of various speciality chemicals with applications into end-user segments of performance chemicals, agrochemicals and pharmaceuticals. The company has its manufacturing units at Bhachau in the State of Gujarat, Tarapur and Dombivali in the State of Maharashtra.
For the financial year ended March 31, 2012, Anushakti Chemicals & Drugs’ manufacturing division had posted a turnover of Rs 339.5 crore, (of which exports were Rs 99.2 crore) and profit before tax for FY 2011-12 has been Rs 39.20 crore. The gross block and net block as at March, 31, 2012 were Rs 165.00 crore and Rs 96.3 crore respectively.
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