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Lakme 4-Month Turnover Touches Rs 14.2 Crore

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BSCAL
Last Updated : Sep 06 1996 | 12:00 AM IST

The company is in the process of exploring other business opportunities and will soon finalise plans.

Lakme chairperson Simone Tata told shareholders at the company's annual general meeting held in Mumbai yesterday that the joint venture with Hindustan Lever was launched at the right time.

Lakme Ltd last year entered into a joint venture with Hindustan Lever to form a 50:50 marketing joint venture.

Though Lakme has now been reduced to a manufacturing company, Tata was unfazed.

She said the company has several sources of income and has a bright future.

Lakme will produce 50 per cent of production and sell it to the joint venture at manufacturing cost.

The other 50 per cent will be produced by contractors who will directly deal with Lakme_lever.

The shareholders then approved several resolutions like increase in authorised capital from Rs 10 to Rs 15 crore, the issue bonus in 1:1 ratio and sale of Miami pharma division to Bal Pharma for Rs five crore.

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First Published: Sep 06 1996 | 12:00 AM IST

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