Jyothy Laboratories said that the integration of the companies is almost complete. However, the merger process is likely to take another six to eight months and it will be effective from April 1, 2012
K Ullas Kamath, deputy managing director of Jyothy Laboratories says, he expects minimum of 20-25% growth in Henkel’s business going forward.
Jyothy Laboratories has announced its FY11 results. He further says, cost cutting measures helped maintain earnings before interest, taxes, depreciation and amortization (EBITDA) margins. The company hopes to improve EBITDA margins in the current year.
Mumbai-based Jyothy Laboratories has acquired a 14.9% stake in Henkel India from Tamil Nadu Petro Products for Rs 60.73 crore in an all-cash deal.
In an interview with CNBC-TV18, K Ulhas Kamath, Deputy MD, Jyothy Labs spoke about the company's acquisition plans and the way forward.
Ulhas Kamath, Deputy Managing Director of Jyothy Laboratories, told CNBC-TV18 that contrary to the market speculations, the company is not looking at acquiring the Indian assets of Henkel AG. “We have our own plans on organic growth and we are not looking at Henkel as an asset in our portfolio,” he asserts.
Jyothy Laboratories has announced its results for the quarter ended December 2010. It has reported net profit of Rs 16.89 crore as against Rs 16.84 crore (YoY).