Financial Daily from THE HINDU group of publications
Friday, Oct 21, 2005


Group Sites

Corporate - Restructuring

EID Parry to hive off Parryware

Our Bureau

Chennai , Oct. 20

PARRYWARE, a division of EID Parry Ltd, which manufactures ceramic sanitaryware products, is to be hived off as a wholly-owned subsidiary of the company. The idea is to facilitate sale of stake to a "strategic foreign partner".

The Rs 200-crore sanitaryware business "is witnessing a high growth, thanks to increasing demand from homes and commercial complexes."

Meanwhile, EID Parry has reported for the quarter ended September a turnover of Rs 209 crore, compared with Rs 130.95 crore in the same period last year - a growth of 60 per cent.

Net profit increased to Rs 38.06 crore, compared with Rs 30.97 crore, which includes an extraordinary income of Rs 6.62 crore from profit on sale of undertaking.

For the half year ended September, EID Parry's turnover was Rs 375.19 crore (Rs 273.38 crore). Profit after tax was Rs 39.72 crore compared with Rs 49.92 crore previously.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Tata Safari Dicor

Stories in this Section
FedEx to expand operations in India

SRL Ranbaxy opens lab in Chennai
Vikash Metal aims to raise Rs 25 cr from IPO
Avian flu drug: Who owns the patent?
EID Parry to hive off Parryware
Cabinet gives in-principle nod for IBP-IOC merger
WestBridge picks up 10 pc stake in Royal Orchid
Darashaw & Co picks up 51% stake in Tata Share Registry
Panama Petrochem to expand capacities
Salim Group plans Rs 250-cr motorcycle plant in Bengal
Competition panel to have corporate structure
`Professionals must be ready to face global challenges'
Vishal Exports Q2 net up 68%; issues bonus shares
TACO targets $1 b revenue by 2008
Cos must adapt to global market demands: TCS official

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line