Sanofi India board approves demerger of consumer healthcare business

Sanofi India board approves demerger of consumer healthcare business

The demerged company will be called Sanofi Consumer Healthcare India Limited, which will be the wholly-owned subsidiary of Sanofi India.

Sanofi India board on Wednesday announced that the company’s board has approved the demerger of its consumer healthcare business into a wholly-owned subsidiary of the company.

The demerged company will be called Sanofi Consumer Healthcare India Limited, which will be the wholly-owned subsidiary of Sanofi India.

“The Board of Directors (“Board”) of Sanofi India Limited (“Demerged Company”), at its meeting held today, has approved a scheme of arrangement under Sections 230 to 232 of the Companies Act, 2013 (“Scheme“), to demerge its Consumer Healthcare Business from the Demerged Company into its wholly-owned subsidiary Sanofi Consumer Healthcare India Limited (currently under the process of incorporation) (“SCHIL /Resulting Company”),” said Sanofi India in its filing.

The consumer healthcare business of the company includes assets, liabilities and all other aspects pertaining to the consumer healthcare business including brands like Allegra, Combiflam, DePURA , Avil, and others.

Sanofi India said that the proposed demerger will enable a different operating model for the consumer healthcare business and would fit for a fast-moving consumer healthcare company.

“The proposed demerger will facilitate pursuit of scale and independent growth plans and also enable more focused management and stronger leverage of specific global resources within Sanofi group,” said the company in its filing.

The turnover of the consumer healthcare undertaking of Sanofi India for the financial year ended 31st December 2022 was approximately ₹728 crore, representing 28 per cent of the total turnover of the company for the said year.

Sanofi India on Wednesday reported a decline of 20.1 per cent in net profit to ₹190.4 crore, This is against a net profit of ₹238.4 crore in the corresponding quarter last fiscal.

The revenue from operations rose by 4.2 per cent to ₹736.5 crore in the quarter under review from ₹707 crore in the year ago period, said Sanofi India in its regulatory filing.

The company’s share was up 1.62 per cent at ₹5,675 on BSE.

 

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