Indo National has taken a significant step forward in its planned amalgamation with Helios Strategic Systems Limited. The company has formally notified statutory authorities about the scheme of amalgamation, following an order from the National Company Law Tribunal (NCLT), Chennai Bench.

Key Developments

• NCLT Order Date: The NCLT, Chennai Bench issued an order regarding the amalgamation scheme on August 1.
• Notice Served: Indo National served notices to various statutory authorities on August 12.
• Authorities Notified: The company has informed multiple regulatory bodies, including:
  • Regional Director, Southern Region
  • Registrar of Companies, Chennai
  • National Stock Exchange of India and BSE Limited
  • Income Tax Department
  • Official Liquidator

Amalgamation Details

• Transferee Company: Indo National Limited
• Transferor Company: Helios Strategic Systems Limited
• Legal Framework: The amalgamation is proceeding under Sections 230-232 of the Companies Act, 2013.

Next Steps

The notified authorities have been given a 30-day window from the receipt of the notice to submit any representations to the tribunal regarding the amalgamation scheme. This period allows for regulatory scrutiny and ensures compliance with all legal requirements.

Company Information

Indo National, known for its 'Nippo' brand of batteries, is headquartered in Chennai. The company's corporate office is located at Pottipati Plaza, 3rd Floor, 77, Nungambakkam High Road, Chennai – 600034, while its registered office is at No. 609, Mount Road, Lakshmi Bhawan IVth Floor, Chennai- 600006.

Investor Impact

Shareholders and investors of Indo National should note that this amalgamation could potentially impact the company's structure and operations. However, the specific details of how this merger might affect the company's financial position or market performance are not provided in the current disclosure.

As the amalgamation process moves forward, investors are advised to stay tuned for further updates from the company and regulatory bodies. The completion of this merger will depend on various factors, including regulatory approvals and the absence of any significant objections from the notified authorities.

Indo National Limited , a leading consumer goods company specializing in dry-cell batteries and electrical accessories, has reported strong financial results for the first quarter. The company saw significant growth in profitability and made key strategic investments during the period.

Financial Highlights

For Q1, Indo National's standalone profit before tax (PBT) rose by 60% year-on-year to Rs 1.74 crore. The company's revenue from operations increased by 6.97% to Rs 119.44 crore, compared to Rs 111.66 crore in the same quarter last year.

Key financial metrics for Q1 (standalone):

Management Commentary

Commenting on the company's performance, Mr. Aditya Reddy, Joint Managing Director, said, "We are pleased to report a strong performance in Q1 with standalone revenue higher by 6.97% year-on-year, driven by improved rural consumption, expansion into alternate channels like Online & Institutional business, and innovation-led growth."

He added, "Our focus on household penetration with the Zinc Carbon range and premiumization with accelerated Alkaline battery push has witnessed robust growth in the Battery category. We are enhancing our Go-To-Market strategy by improving electrical channels, in-store visibility, sales productivity, and field force effectiveness."

Strategic Investments and Operational Highlights

During the quarter, Indo National made two significant investments:

1. Acquired a 32.87% stake in Medcuore Medical Solutions Private Limited for Rs 353.69 lakhs.
2. Invested Rs 850 lakhs in Compulsorily Convertible Preference Shares (CCPS) of Axial Aero Private Limited.

These investments align with the company's strategy to diversify its portfolio and explore new growth opportunities.

Board Approvals and Management Changes

The Board of Directors has approved several key management changes:

1. Reappointment of P. Dwaraknath Reddy as Managing Director for five years, from October 1, 2025, to September 30, 2030, subject to shareholder approval.
2. Reappointment of Aditya Reddy as Joint Managing Director for the same period, also subject to shareholder approval.
3. Appointment of BLN Prasad as Additional Non-executive Non-independent Director.

Corporate Governance and Compliance

Indo National has also taken steps to enhance its corporate governance practices. The company has approved alterations to its Articles of Association regarding director retirement by rotation, pending shareholder approval. This change aims to align the company's practices with section 152(6)(a) of the Companies Act, 2013.

Future Outlook

Mr. Reddy expressed optimism about the company's future, stating, "We are building a robust innovative product pipeline that can leverage our current core competencies like distribution network and building a diversified Nippo brand that sees relevance in every household. We continue to build capability at all levels and functions to foster a high-performance culture across the organization."

Indo National Limited continues to focus on innovation, market expansion, and operational efficiency. The company's strategic investments and management changes are expected to drive growth and create value for shareholders in the coming quarters.