EID Parry Q4 cons net profit up 23% at Rs 138 cr

Consolidated net sales increased 94.8% to Rs 3,585 crore from Rs 1,840.5 crore during the same period.

The board of directors of the company in a meeting held on April 25, 2012 have approved a scheme of arrangement (Demerger). The Sankili and Haliyal undertakings of Parrys Sugar and Industries Limited (PSIL), the company's subsidiary, would be merged into the company w.e.f. April 01, 2012.

Upon this scheme becoming effective, EID Parry (India) Ltd shall issue equity shares of the company to the shareholders of PSIL in the ratio of five equity shares of Re 1 each fully paid for every 19 shares of Rs 10 each fully paid, held by them in PSIL.