Borosil Q3 PAT spurts 15% YoY to Rs 25 cr

8 Feb 2022 , 01:25 PM

Consolidated profit before tax (PBT) rose 23% to Rs 37.96 crore in Q3 FY22 from Rs 30.87 crore in Q3 FY21.

The board of the company on 7 February 2022, considered and approved a draft composite scheme of arrangement amongst Borosil (demerged company) and Klass Pack (resulting company or transferee company) and Borosil Technologies (transferor company) and their respective shareholders and creditors.

It would enable a reduction and reorganisation of share capital of the resulting company; demerger, transfer and vesting of the demerged undertaking from the company into the resulting company on a going concern basis and consequent issue of shares by the resulting company and reduction and cancellation of the existing paid-up equity share capital of the resulting company held by the company; and lastly, amalgamation of the transferor company with the transferee company.

Borosil is a supplier of laboratory glassware, microwaveable kitchenware and opal ware in India. It sells and markets microwavable and flameproof kitchenware and glass tumblers through more than 15,000 retail outlets, and has three manufacturing facilities. The company conducts its operations in two business segments – namely, scientific & industrial products and consumer products.

Shares of Borosil dropped 3.33% to Rs 382.80 on BSE.

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