PNN
Ludhiana (Punjab) [India], October 6: Ludhiana based leading CNC machines manufacturing company, Marshall Machines Ltd is planning to raise Rs 45.63 crore from its rights issue. Company's rights issue is scheduled to open on 11th October 2023 and priced at Rs 44.8 per share. The funds raised through the issue will be utilized to meet the working capital requirements, repayment of loans, acquisition of technology and for general corporate purposes. Rights Issue will close on 19th October 2023.
The Company will issue 1,01,85,000 fully-paid equity shares of face value of Rs 10 each at a price of Rs 44.8 per rights share (including a premium of Rs 34.8 per Equity Share) aggregating to Rs 45.63 crore. The rights entitlement ratio for the proposed rights issue is 7:10; 7 rights equity shares of Rs 10 each for every 10 equity shares of Rs 10 each held by the eligible equity shareholders as on the record date - 29th September 2023.
Gaurav Sarup, Managing Director of Marshall Machines Limited, "Company has taken important strategic initiatives in the recent past with a focus to expand production capacities, launching new products with best technology, adding more channel partners etc. Our long-term focus continues to be investing in growth through new product launch, expanding footprints. Proceeds of the issue will further strengthen company's balance sheet and help fund its expansion plans and strategic growth initiatives."
Incorporated in 1961, Marshall Machines Ltd was founded by Mr. Gautam Sarup. Company provides provides a wide range of smart IoT-enabled CNC solutions. Company manufacturers wide range of CNC Turning Centers including its Patented Double Spindle CNC Turning Centers. Company provides complete machining solutions to manufacturers of Axles, Crankshafts, Auto Parts, Fans, Pumps, Bearings, Gear Blanks, Bushes, etc. The company has deployed over 4,000 machines over 4 decades and has more than 1,500 clients across its two customer segments: Institutional and SMEs.
Company has recently imported technology from Europe to add to its competitive advantage in the domestic market. Company has set a target of offering their existing products infused with the new technologies as early as December this year and aims to launch 3 brand new products within this year. Company also entered vertical machining segment and launched the complete range of vertical machining centres which are used for machining of prismatic parts.
Company has more than 300 committed team members across various functions. Company's clientele is spread across numerous industries, including automobile, consumer durables & appliances, general engineering, and its customers include marquee names such as Hero Honda, Rockman, GNA, USHA, Havells, Amtek Auto etc. Company has carried out research in fields as diverse as Structural Engineering, Vibration Damping, Fluid Mechanics and Artificial Intelligence (AI). This research has led to the development of 'Smart' technologies like SmartCorrect, SmartInsert, SmartAct, SmartDamp, etc. Company has received 3 Patents till now and 12 more filed and pending
Prashant Sarup, JT Managing Director of Marshall Machines Limited stated, "We are expecting a substantial jump of 25% in the top line and about 15% in the bottom line with the launch of these new machines. This will enable us to compete with imported machines and enter more profitable market segments. We are going to Deliver High value products at extremely competitive prices".
Company has recently announced the delivery of the record 800th machine for fan industry. Company produced the first machine for the fan industry in the year 1999 and has dominated the industry with more than 85% market share.
Marshall Machines Limited https://marshalcnc.com/
Marshall is a leader in smart, automated, robotic CNC Machines and Industry 4.0 technologies. The company is driven by R&D and Intellectual Property with several Patents in India and USA. Our customers include leading OEMS from various sectors including Auto, Auto Ancillaries, Consumer Durables, Engineering, Electronics, Steel, etc. Emerging sectors include Aerospace, Medical Equipment, etc. For the FY23 company has reported revenues of Rs 37 crore.
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