Mazda plans to raise fund for expansion in A'bad

Ahmedabad-based Mazda, that entered into the capital market few years ago, is now expanding its manufacturing facility in the city. The Rs 38 crore company is investing around Rs 6 crore for new manufacturing facility with other expansions and for this it is once again planning to raise funds.

"Once the new facility starts functioning, the turnover will rise to Rs 55 crore and this is expected in next fiscal," said Percy Avari, executive director of Mazda.

Currently, the company has orders amounting to about Rs 3 crore for high pressure (HP) and low pressure (LP) heaters from various companies like Siemens, TD Power Systems and others.

"With a few more HP & LP Heaters scheduled for dispatch in the current quarter, we expect good turnover and profit in the current quarter," said Avari.

He also said Mazda has commissioned the Acid Absorption Crystalliser System at NRC amounting to Rs 1.3 crore. "The Company is one of the first Indian engineering Company to design and manufacture such an equipment," said Avari.

Mazda has completed exports worth Rs 3.8 crore through Croll Reynolds, New Jersey and the overall exports in the current year was about Rs 5 crore. "After expansion our export will also rise triple upto Rs 15 crore in next fiscal," said Avrai.

He also added that the company's clientele include Alfa Laval Equipments "" Brazil, APV Asia Pte "" Singapore, BASF Petronnas "" Malaysia, Bachtel "" Saudi Arabia, Colgate Palmoline and European Space Agency in Italy, IDE Technologies "" Israel, Ministry of Oil & Gas Industry "" Turkmenistan, Nepal Lever "" Nepal, Siemens "" Indonesia and others.