As first phase of its activity the Company has its existing unit at Veraval in Kotda Sangani Taluka for manufacturing agricultural implements and garden implements at an installed capacity of 13.50 lacs pieces per annum with the financial assistance from State Bank of Saurashtra SSI Branch Rajkot. The Company has commenced its commercial operations from October 6 1994. The working results for the year ending March 31 1995 and for the period ending 31/10/95 are as follows: MAIN OBJECTS OF THE COMPANY

The main object clause of the Memorandum of Association of the Company enables the Company to undertake the activities for which the funds are being raised for the present issue and also the activities which the Company has been carrying on till date.

The main objects of the company as set out in theMemorandum of Association of the company are:

1. To carry on the business of manufacturers and repairers of and dealers in agro equipments forgings castings projectiles plates boilers engines stoves screw nails sewing machines machinery presses implements gears motor cars tools and engineering products and supplies of all kinds motor lorries omnibuses coaches tramcars locomotives railway carriages and trucks and vehicles aeroplanes seaplanes airships and aircraft iron mongery and hardware and wireless goods.

2. To carry on business as manufacturers fabricators producers importers exporters dealers agents stockists retailers traders or brokers of all kinds of agro equipments mould boxes ingot moulds material handling equipments tools machine tools gadgets accessories spares and machinery.

SUBSIDIARIES

The company does not have any subsidiary to it.