Chennai, July 24: The net sales of Henkel Spic India Ltd have grown by 44 per cent at Rs 158.07 crore for the six months ended June 30, 2000, compared to Rs 109.74 crore for the corresponding period in 1999. The company also improved its bottomline in the period. Its net profit for the six months ended 2000 was Rs 1.99 crore as against a loss of Rs 1.17 crore for the half-year ended 1999.According to A Sathish Kumar, managing director of Henkel SPIC, the growth is owing to the company concentrating on consolidation of all its brands - Henkel, Margo and Mr White. The company, which had presence only in the South, had gone national with its brands in the first half of 1999. It had also acquired Shaw Wallace early last year.
In the later part of 1999, the company had completed the integration of its distribution network with that of Shaw Wallace. It has doubled its direct retail reach to three lakh outlets across the country at present and even increased its media visibility this year. Launch of `Fa' in April this year has also helped the increase in sales, said Kumar.
The company has allotted 56.44 lakh equity shares of Rs 10 each to its foreign promoter Henkel KGaA, at a price of Rs 89.15 per share, thereby increasing the company's equity share capital from Rs 110.74 crore to Rs 116.39 crore. Consequently, the shareholding of Henkel KGaA in the company has increased from 48.5 per cent to 51 per cent.
The company's net sales was Rs 27.20 crore for the 15-month period ended December 31, 1999 and it had incurred a loss of Rs 5.87 crore for the period.
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