Glenmark Pharmaceuticals Limited has informed the Exchange about transfer of the Company's Consumer Care business to its newly incorporated wholly owned subsidiary Glenmark Consumer Care Limited.
GLENMARK · price
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Glenmark Pharmaceuticals' board approved transferring its Consumer Care business to a newly incorporated wholly owned subsidiary, Glenmark Consumer Care Limited. The Consumer Care business reported a turnover of INR 514.7 Crores (about 5.6% of standalone turnover) and had a net worth of around INR 249.2 Crores as of March 31, 2025. The transfer is expected to be completed on or before December 31, 2025, at a consideration of approximately INR 240.40 Crores based on book value of assets. In the same board meeting, Ms. Patricia Andrews was appointed as an Independent Director for a 5-year term, Walker Chandiok & Co. LLP was appointed as Statutory Auditor for 5 years, and Rauthan & Associates LLP was appointed as Secretarial Auditor for 5 years. The 47th AGM is scheduled for September 26, 2025.
This is an internal restructuring to a wholly owned subsidiary, so there is no change in the shareholding pattern of Glenmark Pharmaceuticals and no cash inflow from an external buyer. Shareholders are not directly affected in the short term, though the move may help the Consumer Care segment grow with sharper strategic focus.