Mumbai, Aug 7 :     Tata Chemicals proposes to amalgamate its cash rich wholly-owned subsidiary, Sabras Investment and Trading Co with itself. The subsidiary, with sizeable investments, made whopping profits last year and the dividend had vaulted from Rs 20 to Rs 200 for each share having a face value of Rs 100. Sabras earned a net profit of Rs 142.24 crore for the year ended March 31, 2000 as against the previous year's net profit of Rs 2.47 crore. The main contributor to its profit was the sale of Associated Cement Co's (ACC) shares during the year. Compared with this, Tata Chemicals made a lower net profit of Rs 117.29 crore in the same period including the Sabras' dividend of Rs 17.60 crore. The company earned a significantly higher income during the year in view of the strategic sale of a part of the company's holding in the shares of ACC Ltd. The market value of the quoted investments was Rs 310.80 crore as on March 31, 2000 as against Rs 299.87 crore in the previous year. The company said its decision to amalgamate was a 'prudent move'. Tata Chemicals has called for an extra-ordinary general meeting to obtain the approval of its shareholders on August 30. The amalgamation plan is an effort by the company to 'remove the corporate barriers' which would help 'unhindered flow of financial and managerial resources'. Tata Chemicals expects the move to pave the way for growth in the present liberalised environment.