The company said it has set aside Rs 26.25 crore for buy-back of its shares through the open market purchases route. The maximum price at which it will buy-back its own shares is set at Rs 38. The buy-back will begin on 16 April 2007.

Any buy-back in normally taken favourably by the market is it results in reduction of equity. The company has to cancel shares in a buy-back (to the extent of shares bought back).

Gujarat Ambuja Exports’ current equity base is Rs 27.86 crore. Face value per share is Rs 2.

Gujarat Ambuja Exports manufactures refined castor oil, hydrated castor oil and hydrogenated castor oil.

The company plans to set up its first maize-based ethanol and extra- neutral alcholol (ENA) plant at Nashik. The Rs 100 crore plant will be operational by September 2007. An additional Rs 225 crore will be pumped into the project after commencement.

Gujarat Ambuja Exports had commissioned two wind mills, each of 1.250 MW at village Vanku, Kutch, on 22 September 2006, while another wind mill of 0.8 Mw capacity was commissioned on 12 September at Satapar, Jamnagar, Gujarat.

Gujarat Ambuja Exports registered an 84% surge in December 2006 quarter net profit to Rs 14.21 crore (Rs 7.71 crore). Net sales went up to Rs 393.86 crore from Rs 343.90 crore.