Higher Market Share

professionals, V K Patel (chairman) and K R Bhuva (managing director). Equipped with a well developed R and D centre, the company has pioneered the manufacture of double colour/triple colour marbel effect injection moulding machines. It has developed exports to Bangladesh, former USSR and east African countries. The company has tied up with HMT (International), Bangalore, by appointing it as the company's agents for export. The company is setting up a project by way of expansion at Savli near Baroda (a statenotified backward area) to manufacture 400 machines per annum with a capacity catering up to 1,000 tonnes locking force, keeping an eye on export market for higher capacity machines. Various world renowned manufacturers of plastic processing machinery from Italy and Germany have shown their deep interest in joining with PML for joint ventures/ technical collaboration. The cost of the project as appraised by the banks is Rs 950 lakh. The project is being financed with Rs 300 lakh as loan/dpg, Rs 30 lakh as subsidy, Rs 20 lakh from internal accruals and equity of Rs 600 lakh. The promoters have already raised their contribution of Rs 150 lakh, and for the balance amount of Rs 450 lakh the company is entering the capital market with an offer of 30 lakh shares for the Indian public and 15 lakh shares for NRls. The turnover of the company after expansion is expected to be Rs 1,835 lakh and profit before tax at Rs 224,81 lakh. Based on projections, the EPS is estimated at Rs 2.75, Rs 4.25 and Rs 4.70 in the first, second and third year of operations respectively.