History of New Plastomers India Ltd.

M/S. New Plastomers India limited [NPILs] was incorporated as a Public limited Comp. under the Company Act, 1956, with the Registrar Of Companies, Maharashtra, at Bombay, on July 25, 1985. The Comp. has obtained the Certificate of Commencement of Business from the Registrar of Companies Maharashtra at Bombay on 2/8/1985. The Comp. is also registered with the Directorate of Industries & Mines, Panaji - Goa, as a Small Scale Industrial Unit vide Registration No. 56/01/ 3699/PMT/SSI/RIP dated 18/6/86.

NPIL established its first unit to manufacture Plastic Flexible Packaging Material at Daman with a capacity of 600 tpa. Thereafter, the Comp. has gradually expanded its manufacturing capacity to reach 1200 tpa. NPIL has been running its production facilities at around 75% utilisation level in the past two years.

KEY FINANCIAL HIGHLIGHTS

[Rs. in Lacss]

PARTICULARS 1993-94 1992-93 1991-92 1990-91 1989-90

CAPACITY

UTILISATION[%s] 77.33 76.44 57.36 46.75 37.53

TOTAL INCOME 738.53 747.61 669.83 667.80 554.39

PROFIT BEFORE DEPRN.,

INTEREST and TAX 49.65 43.21 51.90 28.85 24.52

DEPRECIATION 10.52 12.11 7.39 6.22 7.19

INTEREST 14.60 15.77 13.30 10.98 7.58

PROFIT BEFORE TAX 24.53 15.33 31.21 11.65 9.75

TAX 4.00 7.50 8.00 4.75 5.00

PROFIT AFTER TAX 20.53 7.83 23.21 6.90 4.75

PAID UP CAPITAL 87.50 25.00 21.55n 21.55 21.55

E.P.S. [RS.s] 6.39* 3.13 10.77 3.20 2.20

* On weighted average capital.

As the Comp. has capitalised reserves aggregating Rs. 141.25 lacs by issue of bonus shares, this would have an impact on the E.P.S. & the Book Value. All future projections incorporate the impact of capitalisation.

MAIN OBJECTS OF THE COMPANY

To carry on the business of manufacturer, importers, exporters, dealers, stockist & distributors in all kinds of plastic materials, engineering plastics. industry styrene, polystyrene. vinyl chloride, poly-vinyl chloride, polyethylene, poly acetate, polyoleifines, ethylene vinyl acetate, copolymers of one or more of above & i or other products, renforned polypropylene plastic liners, sacks of high density of polyethylene, industrial plastic components & their end products, acrylics & polyesters, polycarbonates & polyethers & epoxy resins and composition silicon resins, & compositions, RF., U.F. & other thermosetting resins & moulding compositions, nylons, rilsan, & similar thermoplastics, moulding compositions including prefabricated sections & shapes, cellulosic plastics & other thermosetting & thermoplastic materials [of synthetic or natural origins], propylene, butanes, guologues & allied types, reagents, plastic & resinous materials, plasticizers, elastomers.

SUBSIDIARY COMPANY

The Comp. has no Subsidiary.