Dabur India today announced the formal merger of Fem Care Pharma Ltd with itself. The merger is effective retrospectively from 1 April 2009. With this, Fem Care Pharma Ltd will now cease to exist, Dabur said in a communication with the Bombay Stock exchange (BSE).
The high courts of Mumbai and Delhi had approved the merger of Fem Care Pharma Ltd with Dabur India Ltd through orders dated 7 May and 19 April, respectively. Subsequently, Dabur also filed these orders with the respective registrar of companies, Dabur said in its release.
Fem Care Pharma shareholders will be allotted Dabur India shares in the ratio of 1:5, ie, 5 shares of Dabur India Ltd for every single Fem Care Pharma share held. The record date for issue of shares has been fixed as 30 June 2010.
The Dabur board at its meeting today also approved the financial results of the combined entity of Dabur India and Fem Care Pharma Ltd for the financial year 2009-10.
Dabur India reported a 28.6 per cent surge in its consolidated net profit for the 2009-10 financial year at Rs503.23 crore against Rs391.21 crore in the previous financial year.
Consolidated sales of the company rose 20.6 per cent to Rs3,416.67 crore from Rs2,834.11 crore a year ago.