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ISPL board ratifies new name Gillete

21-January-2001
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ISPL board ratifies new name Gillete

The Indian Shaving Products Ltd (ISPL) board, on Tuesday, has approved the proposal of rechristening the company's name as Gillette India Ltd. The board decision will be placed before the shareholders and the central government for their approval The change in name was due for sometime after two Gillette subsidiaries, Wilkinson Sword India and Duracell India, were merged into ISPL this year. The merger was aimed at bringing all the Gillette companies together in order to expand the shaving firm's marketing and distribution network. In the second quarter ended September 30, 2000, ISPL's sales grew by 16.34 per cent to Rs 73.05 crore from Rs 62.79 crore in the corresponding previous year. Net profit, during the year, went up to Rs 5.62 crore from Rs 4.83 crore.

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