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| HC approves the merger of Balsara with Dabur | | |
New Delhi, September 14: High courts of Delhi and Mumbai havr approved the merger of the three Balsara companies with Dabur India Limited.
The three Balsara group entities namely Balsara Hygiene Products Limited, Balsara Home Products Ltd and Besta Cosmetics Ltd. will be merged with Dabur India on the filing of the High Court order with the Registrar of Companies.
The Order is expected around end September 06. This marks the completion of the formal process of merging the legal entities of Balsara Companies with Dabur India.
With the completion of this merger, Dabur India formally becomes the No. 3 player in the oral care business.
Post the acquisition last year; operations of Balsara had been integrated with Dabur India Ltd, which ensured a smooth turnaround of these companies in the very first year of the merger.
Dabur India post acquisition turned around Balsara with the companies registering a turnover of Rs. 167 crores and the net profit of Rs. 14 crores from a turnover of Rs. 120 crores and net loss of Rs. 36 crores in 2004 -05. |
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