Pidilite Industries said that its board approved acquisition of the adhesive business of Suparshva Adhesives. The slump sale agreement includes brands, know-how and other assets pertaining to the adhesive business. The gross turnover for the year ended 31 March 2013 of the business being acquired is less than 1% of the company's turnover, Pidilite said.
Meanwhile, Pidilite Industries reported 25.8% rise in its consolidated net profit jumped to Rs 160.99 crore on 12.1% increase in net sales to Rs 1118.81 crore in Q1 June 2013 over Q1 June 2012.
FOR COMPLETE REPORT READ: Pidilite Industries firms up after strong Q1 earnings