MVL managing director Prem Adip Rishi said the company has entered into a strategic alliance with a Taiwan-based company for export of semi-conductors. Exports are slated to commence from May.

A tie-up with a large international information technology company is also on the anvil for supply of computer accessories, Rishi said but refused to divulge the name. "We have already signed the memorandum of understanding and will be signing the final agreement within this month," he said.

The total order from this information technology international major is over Rs 15 crore, Rishi disclosed. MVL plans to make fresh equity investment of Rs 10 crore. The company has convened an extraordinary general (EGM) meeting on May 28 to take the shareholders approval for a preferential allotment to promoters. The sharesare expected to be allotted at a price between Rs 13 to Rs 15 per share as per the Sebi guidelines.

According to Rishi, "we are exploring business opportunities in software export of video and television games, educational toys and computers as well as multi-media and animation segment."

With the new alliances expected to come into operation by May, MVL has set a turnover target of Rs 70-80 crore during the financial year ending June, 2000 with a net profit of Rs 5-6 crore. The company has an equity base of Rs 10 crore.

Rishi said the company's turnover during the current financial year ending June 1999 was expected to cross Rs 40 crore with a profit after tax of Rs 2 crore.