Amalgamation scheme of Lincoln Parenteral, Lincoln Pharma approved by NCLT

Lincoln Parenteral Ltd is subsidiary company of Lincoln Pharmaceuticals Ltd engaged in the business of small Parenteral Injection Products. For the year ended March 2021, Lincoln Parenteral reported turnover of Rs. 44.64 crore and Net profit of Rs. 1.84 crore. Lincoln Pharmaceuticals Ltd holds 98.58% in Lincoln Parenteral Ltd as on March 2021.

During FY20-21, Lincoln Pharmaceuticals Ltd had filled petition with Hon'ble National Company Law Tribunal (NCLT), Ahmedabad Bench for approval of the scheme of amalgamation of Lincoln Parenteral Limited ("Transferor Company") with Lincoln Pharmaceuticals Limited ("Transferee Company") and their respective Shareholders and Creditors.

Commenting on the development, Mr. Mahendra Patel, Managing Director, Lincoln Pharmaceuticals Limited, said, "The corporate restructuring practice will bring lot of synergies for the both the company and will lead to increased competitive strength, cost reduction and efficiencies, productivity gains, and logistic advantages, thereby significantly contributing to future growth. We are confident to improve our growth numbers of revenue, margins and profitability in FY22. Our strategic growth initiatives, product and geographical expansion, operational efficiency and debt free status are likely to maximise value for all stakeholders in the near to medium term."