FMCG company Emami today said it will restructure the operations of its two subsidiaries - Zandu Pharmaceutical Works and Emami Realty - and has formed a committee to evaluate various options for the same. "We have formed a committee to look into various options for realignment of activities of our two domestic subsidiaries," Emami Ltd Chief Financial Officer and President N Bhansali said "The committee would evaluate options, including merger, demerger or whether the realty business would continue as it was", he added.
In a meeting today, the board of directors of the company discussed various options for restructuring and reorganising FMCG and realty business carried on by Emami Ltd and subsidiaries -- Zandu Pharmaceutical Works and Emami Realty, Bhansali said.
"In the current recessionary time, there has been severe impact on the real estate business, so the review for getting optimum synergistic benefit was necessary," Bhansali said.
Asked if the company would sell its entire stake of the realty subsidiary, Bhansali added "Earlier the board had decided to sell the stake in the realty business, but it is not going to sell to any outsider. Everything will be cleared only after the committee submits its report."
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