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Henkel takes charge at Henkel Spic - Views on News from Equitymaster
 
 
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  • Mar 25, 2000

    Henkel takes charge at Henkel Spic

    Henkel, the foreign partner in the Henkel Spic is set to take a 51% controlling stake in its joint venture with SPIC. This is via a preferential offer, the proceeds of which, around Rs 507 m, are to used for retiring its entire debt.

    Henkel Spic, a 54% subsidiary of German consumer products major Henkel KgaA is engaged in the manufacture of eco-friendly detergents (surface cleaners and laundry). The other co promoter of the company is the Spic group. Among the products introduced by the company are Brisk, Henko, Limeshot and Pril.

    The raising of the stake in the JV is an indication of Henkel’s growth perception of the Indian market. This is despite the 90% penetration of the detergents in the Indian market. The company has been successful in cracking the premium end of the market with its ‘Henko’ brand which is among the highest priced among the premium end detergents.

    The company now plans to focus on its cosmetics and toiletries segments where it plans to introduce its international segments. This is the segment which has been growing at 20% plus over the last three year’s and is expected to do so in the current year too.

    Market View:
    The raising of the parent’s stake and the repayment of the debt is likely to shore up the sentiment in the stock. Analysts expect the company to report a turnover in the range of Rs 35 bn although it is unlikely to wipe out its accumulated losses in the current year itself.

     

     

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