Lasa Supergenerics acquires Harishree Aromatics

This acquisition has been a strategic decision to restructure our current potential and a forward integrate, says Dr. Omkar Herlekar, Chairman, Lasa Supergenerics Limited

Feb 27, 2020 09:02 IST India Infoline News Service

Lasa
Veterinary API major, Lasa Supergenerics Limited recently announced its acquisition of Harishree Aromatics and Chemicals Private Limited which is in the manufacturing of Veterinary API & Other Pharmaceuticals Intermediates.
 
In addition to the takeover of the manufacturing unit along with all other assets and liabilities whereas transferor is a debt free company, the amalgamation and consolidation will result in an increase in market share, product and services diversification, combined pool of reserves, investments and other assets giving it a competitive edge over its listed and unlisted peers
 
Commenting on the acquisition, Dr. Omkar Herlekar, Chairman, Lasa Supergenerics Limited, said “This acquisition has been a strategic decision to restructure our current potential and a forward integrate. The amalgamation of both the entities stands to extract synergistic benefits, economies of scale, better cash flow management, optimisation of borrowing costs resulting in better financial and operational efficiencies and better shareholder value”
 
The company recently announced the third quarter and nine months ended results where it turned net positive. It declared revenue of Rs39.29 cr, EBITA of Rs8.16 cr which was up by 8.7%, EPS of Rs.0.89 as compared to a negative 2.31 and a PAT of Rs 2.57 cr against a loss of Rs.5.28 cr compared to the previous quarter. The company is working towards bringing down the finance costs and the working capital cycle.

Related Story