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| Exchange Disseminated Time | Munjal Showa Ltd has informed BSE that the company intends to set up a plant at Manesar, Gurgaon by investing around Rs 250 million subject to necessary clearances from the relevant authorities in case no clearance from relevant authorities then the expansion will be carried out in the existing unit in the range of around Rs 100 million.
Company has grown in the past @20% plus and same trend will continue in the year 2001-2002. Net turnover (net of excise) will be in the range of Rs 3160 million to Rs 3200 million.
Suzuki Motor Corporation has given drawings of shock absorbers to Munjal Showa for their two-wheeler models for development of shock absorbers. Likewise Honda Siel has also given the drawings for status of their new four-wheeler models.
Considering the growth of the company in the financial year 2001-2002 a higher dividend in the range of 40% to 50% may be declared by the Board subject to the confirmation of shareholders.
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