Radha Madhav clarifies on news regarding new orders

With reference to the news item appearing in a leading financial daily titled "Order talk props Radha Madhav", Radha Madhav Corporation Ltd has clarified as under:

1. The rate of the Company's scrip as mentioned in the news item is correct which rose to 5% on July 11, 2007.

2. The Company has not received any order from Novartis till date.

3. As regards to the expected key order from Tata Chemicals, the dealing is under negotiations and still to be finalized.

4. The Company is in the ongoing expansion for Pharmaceutical packaging project of Rs 180.00 Crore at Rudrapur (Uttaranchal) and at Daman (U.T.)

5. Company earns major revenue from Food packaging business.

6. After expansion of the Pharma packaging project, Company expect major share of the revenue shall be from Pharmaceutical packaging business.

Source : Equity Bulls

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