Deepak Fertilisers forays into hand sanitiser segment; evaluates other IPA-based product opportunities
Deepak Fertilisers is leveraging its existing strong distribution network along with pharmacy and hypermarket chains, modern trade and e-commerce channels to make the product easily available on pan-India basis.
The fertiliser segment reported revenues of Rs 580.14 crore, compared with Rs 461.69 crore, with the segment profit standing at Rs 17.05 crore, against Rs 26.13 crore.
When contacted, company's spokesperson declined to comment on the reason behind offloading the 26 lakh shares in MCFL.
Not much is known about Ritu, who was the second wife Mallya's father Vittal.
In a double-whammy for flamboyant businessman Vijay Mallya, the government has annulled his re-appointment as Managing Director of Kingfisher Airlines while he also had to quit from board of another group company MCFL.<br />
After losing United Breweries, it's game over for Mallya after resigning as chairman of Mangalore Chemicals
The backdrop of recent events at United Spirits, in which Mallya has managed to stay on as chairman even as Diageo has acquired management control, may serve as a precursor to what may lie ahead for MCF.<br />
After a protracted battle for control of the company, Mangalore Chemicals & Fertilizers Ltd today said that Vijay Mallya had resigned from the board of directors of the company with immediate effect.<br />
Zuari entities' Rs 211-crore offer for 26 per cent stake in MCFL is supported by the existing promoters and would be "a competing open offer" to Deepak Fertilizers' offer. <br />
The Union Budget 2012-13 is expected to have a positive impact on the fertiliser industry that is expected to benefit from cheaper farm credit.