Autopal Industries

Pradeep Drug Pradeep Drug Company, promoted by S Mohanchand Dadha who established T N Dadha Pharmaceuticals, is an existing company in the field of bulk drugs and ii earning profits already. It has a unit manufacturing bulk drugs like erythromycin, sulphasomidine and mebendazole at Manamalainagar near Madras. It is now setting up Maduran- takam, also near Madras, a 100 per cent export-oriented unit for analgin, furose- mide and mebendazole which it will manufacture with the technology it has developed at the Mahamalainagar plant. Up to 74 per cent of production at this existing unit is itself being exported, the exports going to countries like Germany, UK, Switzerland, Singapore, Thailand and Hong Kong. The company will secure raw material for the analgesic drugs mostly locally. The project is to cost Rs 5.30 crore and it is to be financed mainly with equity funds excepting for a Tamil Nadu government subsidy of Rs 15 lakh. The company is offering shares of Rs 2.47 crore to the public at par opening the lists for subscription on June 1. SBI Capital Markets and Fair- growth Financial Services are the lead managers of the capital issue; With commercial production by March 1993, the export oriented unit is expected to make a head-start with the company having established itself in the export markets. And with its break-even point as low as 37 per cent, the company expected to pay dividend in the very first year of operation.