United Phosphorous acquires Dutch research company

14 February 2006

United Phosphorous, a leading manufacturer of crop protection chemicals and high yielding seeds, has acquired Advanta Netherlands Holdings for an undisclosed sum. The company said the acquisition, which will be effective from today, would help in getting a head start in the high of seeds business.

Advanta is a supplier of seeds and seed technologies to major global and European markets, providing added value to farmers, downstream industries and consumers. The company has operations in Australia, Asia and South America. Advanta's research and development operations have developed portfolio of superior, proprietary and differentiated varieties of seeds.

United Phosphorous reported a net profit of Rs22.17 crore for the quarter ended December 2005 as compared to Rs12.72 crore for the September 2005 quarter. Total revenues increased to Rs315.08 crore as against Rs293.67 crore.

For the full year 2004-05, the company reported a net profit of Rs 54.28 crore as compared to Rs42.11 crore during the previous year. Total revenues for the full year increased to Rs1,063.48 crore from Rs870.89 crore.

As on 31 December 2005, promoters held a 32-per cent stake in the company. FII holdings were as high as 28 per cent while domestic institutions held another 19 per cent. Public holdings were at 12 per cent.

United Phosphorous is trading at Rs283.95 (up 3.69 per cent) on the NSE at 12.10 PM today.