The Board of Harita Seating Systems at its meeting held on 14 February 2019 has approved the draft Composite Scheme of Arrangement of Harita (transferor company 1) and Harita Venu (transferor company 2) and Harita Cheema (transferor company 3) and Harita Financial Services (transferor company 4) and Harita Seating Systems (transferor company 5) and Minda Industries (transferee company) and their respective shareholders.

The scheme provides for -

Amalgamation of the Transferor Company 1, Transferor Company 2, Transferor Company 3 and Transferor Company 4 with the Transferee Company; and

Amalgamation of the Company with the Transferee Company.

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Harita Seating Systems announced that the Board of Directors of the Company at its meeting held on 06 February 2019, has recommended a Interim dividend of Rs.3 per share(i.e.30%), subject to the approval of the shareholders.

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Harita Seating Systems has fixed 14 February 2019 as the Record Date for the purpose of Payment of Interim Dividend.

The interim dividend declared will be paid on or after 19 February 2019.

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Net profit of Harita Seating Systems declined 44.99% to Rs 5.11 crore in the quarter ended December 2018 as against Rs 9.29 crore during the previous quarter ended December 2017. Sales rose 2.76% to Rs 136.73 crore in the quarter ended December 2018 as against Rs 133.06 crore during the previous quarter ended December 2017.

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