-- The Board of Directors of Aarti Industries Limited, a leading manufacturer and exporter of Chemicals and Pharmaceuticals, has inter-alia given in-principal approval to formulate the scheme for merger of manufacturing division of Anushakti Chemicals and Drugs Ltd into Aarti Industries Ltd and to consider further steps to be taken in this regard.
The decision of merger was taken by the Board of Directors during its meeting held on July 14, 2012.
Anushakti Chemicals & Drug Ltd is an associate company of Aarti Industries Limited, with Aarti Industries Ltd holding 49.6% equity stake in Anushakti Chemicals & Drugs Ltd.
Anushakti Chemicals & Drugs Ltd 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 Ltd's manufacturing division had posted a turnover of Rs 339.5 crore (of which exports were Rs 99.2 crore) and profit before tax for FY2011-12 has been Rs 39.2 crore. Gross block and net block as at March 31, 2012 were Rs 165 crore and Rs 96.3 crore, respectively.
Aarti Industries Ltd (AIL) has recorded a jump of 26.75% in standalone Net Profit to Rs 28.24 crore for Q4 FY12, as compared to Rs 22.28 crore in the corresponding quarter of previous fiscal. Standalone Total Income for the quarter ended March 31, 2012 stood at Rs 466.77 crore, up 7.2 %, as compared to Rs 435.44 crore in the same period last year. The jump in revenue was backed by robust growth across the segments.
For the financial year ended March 31, 2012, AIL's consolidated Net Profit increased to Rs 103.26 crore, up 26.71%, as against Rs 81.49 crore of last financial year (FY10-11). Consolidated Total income for the latest fiscal (FY12) stood at Rs 1,673.31 crore, registering a growth of 15.16%, as compared to Rs 1,453 crore of FY 2011. Out of which export stood at Rs 723.59 crore for FY12 against Rs 559.53 crore for FY11
Notes to Editor
About Aarti Industries Ltd (NSE Symbol: AARTIIND; BSE Scrip Code: 524208)
Aarti Industries Ltd (http://www.aartigroup.com), incorporated in the year 1984 and listed on stock exchanges in 1992, is a well known name in the field of Chemical Industry and is a leading supplier to global manufacturers of Dyes, Pigments, Agrochemicals, Pharmaceuticals & rubber chemicals.
Aarti Industries Ltd (AIL) is also a leading domestic player in nitrochlorobenzene (NCB) based specialty chemical business with the largest domestic manufacturing capacity of 60,000 tonnes per annum. The company offers over 150 products and is the market leader in more than 75% of its top 50 products. AIL has 16 manufacturing units spread across Gujarat, Maharashtra, Madhya Pradesh and Silvassa.
AIL is among the largest producers of benzene based basic and intermediaries in India. It is also among the largest integrated manufacturers of dimethyl sulphate (DMS), an organic specialty chemical which uses methanol and sulphur as feedstock
AIL has a diversified end-user base for its products with application into end-user industries such as dyes, pigments, FMCG, agrochemicals, pharmaceuticals, polymers etc. It has wide customer base of over 1,000 customers spread over 60 countries across the globe with major presence in USA, Europe, Japan and India.