Astral gets NCLT nod to merge two arms with itself

7 Sep 2022 , 11:50 AM

On 5 September 2022, Astral obtained sanction from the NCLT, Ahmedabad Bench the scheme of amalgamation of Resinova Chemie and Astral Biochem with the company and their respective shareholders and creditors. On 6 September 2022, the company received certified copy from NCLT and has filed the same with the Registrar of Companies on the same day. Hence, the scheme of amalgamation has become effective from 6 September, 2022. The companys consolidated net profit rose 20.3% to Rs 88.90 crore on a 73.1% rise in net sales to Rs 1,212.90 crore in Q1 FY23 over Q1 FY22. Shares of Astral rose 0.93% to Rs 2,362 on the BSE. Astral is engaged in the business of manufacturing and trading of pipes, fittings and adhesive solutions. Powered by Capital Market – Live News