Lasa Supergenerics acquires Harishree Aromatics

New Delhi: Lasa Supergenerics, a manufacturer of active pharmaceutical ingredients (API), has acquired Harishree Aromatics and Chemicals Private Limited for an undisclosed amount.

The company said that the amalgamation and consolidation will result in an increase in market share, product and services diversification, combined pool of reserves, investments and other assets giving it a competitive edge over its listed and unlisted peers.

“This acquisition has been a strategic decision to restructure our current potential and forward integration. The amalgamation of both the entities stands to extract synergistic benefits, economies of scale, better cash flow management, optimisation of borrowing costs resulting in better financial and operational efficiencies and better shareholder value,” said Dr Omkar Herlekar, Chairman– Lasa Supergenerics.

Share of Lasa Supergenerics has been hitting a new 52-week high record post Q3FY20 results and acquisition of a new entity.

The company recently announced the third quarter and nine months ended results where it turned net positive. It declared PAT of Rs 2.57 cr against a loss of Rs.5.28 cr compared to the previous quarter.