Prashant Khosla Pneumatics

year, sales have gone up by 27 per cent to Rs 49 crore from Rs 38 crore of the same period last year. The company expects to maintain a satisfactory level of profits during the year. In order to augment the long-term resources for working capital requirements, modernisation, expansion, replacement/normal capital expenditure programmes, it is proposed to raise Rs 12.13 crore by issue of debentures and new equity shares. The issue of non- convertible debentures to Indian resident shareholders and new equity shares to Castrol, UK, at the time of conversion, according to the chairman P K Chokscy, is in accordance with the current policy of the government of India which in the national interest takes into account the exposure on foreign exchange outflows.