Jyothy Laboratories plans to merge Henkel India with itself

Jyothy Laboratories is planning to merge Henkel India with itself. In this regard, the company’s board will meet on June 15 to consider a proposal for amalgamation of Henkel India with the company and the valuation report for the purpose of exchange ratio.

Recently,, Jyothy Laboratories has recommended the issue of bonus shares in the ratio of one share for every equity share held subject to the approval of shareholders. Last year, Henkel India became a subsidiary of Jyothy Laboratories consequent to the selling of 50.87 percent stake in Henkal India held by Henkel AG & Co. of Germany.

Jyothy Laboratories reported a surge of 21.83% in its net profit to Rs 27.90 crore for the fourth quarter ended March 31, 2012 as compared to Rs 22.9 crore in the same period of previous fiscal. The net sales of the company rose to Rs 218.9 crore for the fourth quarter ended March 31, 2012, against Rs 155.9 crore in the same period of previous fiscal, up by 40.41%.