The Mumbai-based Jyothy Laboratories (JLL), which last week acquired a 14.9 per cent stake in Henkel India, is looking to aggressively turnaround the business if it triumphs in its bid for parent Henkel AG's 50.97 per cent in the Indian unit.
Speaking at an analyst call today, JLL's vice-chairman Ulhas Kamath said the firm was looking to turn Henkel profitable in a year or two. "It has to happen as quickly as possible. For that we will use every lever possible from manufacturing to distribution to brand-building," he said.
Kamath admitted that JLL would have to invest substantially in the first year to revive the health of the business, something that has made investors jittery since the 14.9 per cent acquisition last week. The JLL stock tanked 12 per cent a day after the acquisition on the Bombay Stock Exchange (BSE).
Today, the Jyothy stock was up 1.12 per cent on the BSE to close at Rs 198.90 per share.
