Manugraph

Mumbai, India Founded: 1972 • Age: 54 yrs Listed
Web offset presses are manufactured by Manugraph in Mumbai, India.

About Manugraph

Manugraph is a publicly listed company based in Mumbai (India) founded in 1972 by SM Shah. Web offset presses are manufactured by Manugraph in Mumbai, India. The company has 8 employees. Manugraph has completed 1 acquisition, including Dauphin Graphic Machines. Its Indian entity Manugraph India Limited reported revenue of β‚Ή91.04 Cr. Manugraph offers products and services including WebMail Client and Exchange ActiveSync. Its focus areas include Industrial Goods and Manufacturing and Manufacturing Services.

Company details

Manugraph was established in 1972 by founder SM Shah in Mumbai, India. Operations are focused on the manufacturing sector, where web offset presses for printing applications are produced. The company serves the printing industry through design, assembly, and distribution of machinery. Activities are primarily based in India, with emphasis on offset printing equipment for commercial and newspaper sectors.

  • Headquarters Mumbai, India
  • Employees 8
  • Founders SM Shah
  • Stage Public
  • Sectors
    Industrial Goods & Manufacturing
  • Email
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  • Phone
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  • Website manugraph.com
  • Social LinkedIn
  • Legal Name Manugraph India Limited
Key Metrics
  • Market Cap
    ₹45.29 Cr

    MANUGRAPH · NSE

  • Share Price
    ₹14.89

    +3.33% today

  • Revenue
    ₹79.57 Cr

    FY 2022-23 · +72.8% YoY

  • EBITDA
    −₹15.17 Cr

    Margin -19.1%

  • Net Profit
    −₹18.24 Cr

    FY 2022-23 · -36.8% YoY

  • Debt / Equity
    0.14

    Interest cover -17.1x

  • Employee Count
    8
  • Investments & Acquisitions

Products & Services of Manugraph

Manugraph offers a comprehensive portfolio of products and services, including WebMail Client and Exchange ActiveSync.

WebMail Client
Email Services

Access to mailboxes is permitted via desktop and mobile web browsers.

Exchange ActiveSync
Mobile Synchronization

Support for mobile devices is provided through the Microsoft ActiveSync protocol.

Board of directors of Manugraph India Limited (Manugraph)

Manugraph India Limited is the primary company behind Manugraph. The board of Manugraph India Limited currently have 7 directors; the longest-serving is Sanjay Sanat Shah, appointed in 1989. 20 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Sanjay Sanat Shah
DIN 00248592
Managing Director11 Aug 198937 yrs 2 moManugraph India Limited
Pradeep Sanat Shah
DIN 00248692
Managing Director11 Aug 198937 yrs 2 moManugraph India Limited
Basheera Juzer Indorewala
DIN 07294515
Director07 Feb 20188 yrs 9 moManugraph India Limited
Shailesh Baburao Shirguppi
DIN 08770042
Whole-time director01 Jul 20206 yrs 4 moManugraph India Limited
Madhavi Harsh Kilachand
DIN 00296504
Director28 Jun 20215 yrs 4 moManugraph India Limited
Konasamudram Nageshwaran Padmanabhan
DIN 10040838
Director02 Mar 20233 yrs 8 moManugraph India Limited
Nimish Jayant Vakil
DIN 00368177
Director02 Mar 20233 yrs 8 moManugraph India Limited

People of Manugraph

1 people are tracked at Manugraph (1 in leadership); the tracked headcount is 8.

NameRoleGroup
SM Shah
FounderLeadership
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Complete people profiles for Manugraph

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  • Full employee list
  • Team structure
  • Board tenure
  • Professional contacts

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IPO & Listings of Manugraph

Manugraph is a publicly listed company on the NSE with ticker symbol MANUGRAPH in India, operating in the Producer manufacturing sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date14 Sep 2006
  • Listed onNSE: MANUGRAPH
  • Listed entityManugraph India Limited
  • Exchange sectorProducer manufacturing
  • ISININE867A01022
  • Share price₹16.96 (+1.62% on the day) · 2026-10-14
  • Market capitalisation₹51.5 Cr
  • Price to earnings9.2
  • EPS (diluted, trailing year)₹1.84
  • Volume (last session)5,088

Financials of Manugraph

Exchange-reported figures of Manugraph India Limited, the listed company behind Manugraph (NSE: MANUGRAPH).

Financial Highlights

FY 2022-23 Β· Consolidated
Revenue
₹79.57 Cr
+72.8% YoY
EBITDA
−₹15.17 Cr
-9.5% YoY
Profit After Tax
−₹18.24 Cr
-36.8% YoY
Net Worth
₹99.14 Cr
-9.8% YoY
Total Assets
₹117 Cr
-14.1% YoY
Total Debt
₹10.51 Cr
-40.9% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2022-23FY 2021-22FY 2020-21FY 2019-20FY 2018-19FY 2017-18FY 2016-17
Income statement
Revenue79.5746.0529.69121251185258
Revenue growth+72.8%+55.1%-75.5%-51.8%+36.0%-28.4%-
EBITDA(15.17)(13.86)(27.33)(33.66)(16.14)(15.45)(36.27)
EBITDA margin-19.1%-30.1%-92.1%-27.8%-6.4%-8.4%-14.1%
Profit before tax(10.71)(14.17)(28.22)(34.42)(16.89)(12.15)(33.63)
Net profit(18.24)(13.33)(18.21)(32.18)(14.02)(14.24)(3.58)
Net profit margin-22.9%-29.0%-61.3%-26.6%-5.6%-7.7%-1.4%
EPS (β‚Ή)(3.63)(4.59)(9.44)(11.61)0.000.000.00
Balance sheet
Total assets117136152163193214234
Net worth99.14110123152190208224
Total debt10.5117.7818.859.110.002.526.57
Cash & bank1.588.6911.3723.5933.617.2419.46
Net working capital32.2447.6854.8661.9075.4546.5324.05
Cash flow
Cash from operations(6.10)(0.82)(21.94)(29.24)(13.85)(27.98)30.17
Cash from investing16.663.6413.1313.4025.3731.46(24.80)
Cash from financing(10.02)(3.60)7.156.25(5.40)(6.55)(7.75)
ParticularsMar 2023Dec 2022Sep 2022Jun 2022Mar 2022Dec 2021Sep 2021Jun 2021
Revenue35.1013.0225.436.0212.5212.9316.154.45
Revenue growth (YoY)+180.4%+0.7%+57.5%+35.3%-21.8%---
Other income0.188.070.360.081.630.520.660.70
EBITDA(1.27)(6.94)(2.74)(4.35)(2.78)(4.65)(2.90)(3.61)
EBITDA margin-3.6%-53.3%-10.8%-72.3%-22.2%-36.0%-18.0%-81.1%
Depreciation0.320.360.390.320.320.330.340.36
Interest0.640.760.640.680.590.600.580.61
Profit before tax(2.05)0.01(3.41)(5.27)(2.06)(5.06)(3.16)(3.88)
Tax(0.01)0.080.090.150.30(0.60)0.030.06
Net profit(2.04)(0.07)(3.50)(5.42)(2.36)(4.46)(3.19)(3.94)
EPS (β‚Ή)(0.67)(0.02)(1.15)(1.78)(0.77)(1.47)(1.04)(1.30)
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue88.6459.3565.7679.5746.0529.69121
Revenue growth+49.4%-9.8%-17.4%+72.8%+55.1%-75.5%-
EBITDA6.10(24.01)(16.80)(14.90)(13.85)(27.32)(33.69)
EBITDA margin+6.9%-40.5%-25.6%-18.7%-30.1%-92.0%-27.8%
Profit before tax6.80(26.62)(19.61)(10.99)(15.57)(28.21)(34.45)
Net profit3.74(14.98)(20.07)(18.54)(14.73)(18.20)(31.53)
Net profit margin+4.2%-25.2%-30.5%-23.3%-32.0%-61.3%-26.1%
EPS (β‚Ή)1.63(8.78)(6.53)(3.71)(5.05)(9.44)(11.62)
Balance sheet
Total assets66.3566.01104117136153165
Net worth58.0353.2779.7199.14110124153
Total debt3.007.0017.6410.5117.7818.859.11
Cash & bank2.632.990.441.588.3510.6422.06
Net working capital(2.28)(11.67)20.8232.2447.3455.3061.79
Cash flow
Cash from operations1.190.33(6.50)(5.84)(0.83)(22.25)(27.35)
Cash from investing3.3714.720.3916.734.0513.8517.95
Cash from financing(4.78)(13.11)5.00(10.02)(3.60)7.536.25
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue16.9025.7125.0917.6914.2031.6627.936.41
Revenue growth (YoY)+19.0%-18.8%-10.2%+176.0%+14.4%+151.1%--
Other income0.159.810.100.010.012.280.160.30
Total expenses17.7628.6524.7116.7515.0226.1628.3810.50
EBITDA(0.86)(2.94)0.380.94(0.82)5.50(0.45)(4.09)
EBITDA margin-5.1%-11.4%+1.5%+5.3%-5.8%+17.4%-1.6%-63.8%
Depreciation0.220.200.250.250.170.170.190.20
Interest0.020.070.190.210.170.180.570.66
Profit before tax(0.95)6.600.040.49(1.15)7.43(1.05)(4.65)
Tax0.01(0.87)1.270.04(0.07)0.600.09(0.09)

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 10 Nov 2026
ParticularsMar 2023Dec 2022Sep 2022Jun 2022Mar 2022Dec 2021Sep 2021Jun 2021
Revenue35.1013.0225.436.0212.5212.9316.154.45
Revenue growth (YoY)+180.4%+0.7%+57.5%+35.3%-21.8%---
Other income0.188.070.360.081.630.520.660.70
EBITDA(1.27)(6.94)(2.74)(4.35)(2.78)(4.65)(2.90)(3.61)
EBITDA margin-3.6%-53.3%-10.8%-72.3%-22.2%-36.0%-18.0%-81.1%
Depreciation0.320.360.390.320.320.330.340.36
Interest0.640.760.640.680.590.600.580.61
Profit before tax(2.05)0.01(3.41)(5.27)(2.06)(5.06)(3.16)(3.88)
Tax(0.01)0.080.090.150.30(0.60)0.030.06
Net profit(2.04)(0.07)(3.50)(5.42)(2.36)(4.46)(3.19)(3.94)
EPS (β‚Ή)(0.67)(0.02)(1.15)(1.78)(0.77)(1.47)(1.04)(1.30)
ParticularsFY 2022-23FY 2021-22FY 2020-21FY 2019-20FY 2018-19FY 2017-18FY 2016-17
Revenue79.5746.0529.69121251185258
Revenue growth+72.8%+55.1%-75.5%-51.8%+36.0%-28.4%-
Other income8.693.513.343.365.409.929.70
Total expenses94.7459.9157.02155267200294
Employee cost22.8819.2517.3745.0956.9145.9560.77
EBITDA(15.17)(13.86)(27.33)(33.66)(16.14)(15.45)(36.27)
EBITDA margin-19.1%-30.1%-92.1%-27.8%-6.4%-8.4%-14.1%
Depreciation1.391.351.702.424.455.296.12
Interest2.842.472.531.701.701.330.94
Profit before tax(10.71)(14.17)(28.22)(34.42)(16.89)(12.15)(33.63)
Tax0.31(0.21)0.480.88(0.54)2.101.73
Net profit(18.24)(13.33)(18.21)(32.18)(14.02)(14.24)(3.58)
Net profit margin-22.9%-29.0%-61.3%-26.6%-5.6%-7.7%-1.4%
EPS (β‚Ή)(3.63)(4.59)(9.44)(11.61)0.000.000.00
ParticularsFY 2022-23FY 2021-22FY 2020-21FY 2019-20FY 2018-19FY 2017-18FY 2016-17
Equity & liabilities
Share capital6.086.086.086.086.086.086.08
Reserves & surplus93.06104117146184202218
Shareholders' funds (net worth)99.14110123152190208224
Minority interest0.000.000.000.000.000.000.00
Secured loans10.4517.7018.859.110.002.526.51
Unsecured loans0.060.080.000.000.000.000.06
Total debt10.5117.7818.859.110.002.526.57
Total liabilities117136152163193214234
Assets
Gross block198204205212213208322
Net block89.6091.8893.2295.2797.43101120
Capital work in progress0.000.000.000.000.000.000.46
Investments0.000.230.000.0010.8647.5660.10
Inventories60.1450.7752.9562.1880.2979.0060.37
Sundry debtors2.441.133.4118.055.7717.959.28
Cash & bank balances1.588.6911.3723.5933.617.2419.46
Loans & advances7.906.514.967.895.7221.084.80
Total current assets72.0667.1072.6911212512593.91
Total current liabilities39.8219.4217.8349.8149.9478.7469.86
Net working capital32.2447.6854.8661.9075.4546.5324.05
Total assets117136152163193214234
ParticularsFY 2022-23FY 2021-22FY 2020-21FY 2019-20FY 2018-19FY 2017-18FY 2016-17
Opening cash0.781.553.2112.816.689.7611.81
Net cash from operating activities(6.10)(0.82)(21.94)(29.24)(13.85)(27.98)30.17
Net cash from investing activities16.663.6413.1313.4025.3731.46(24.80)
Net cash from financing activities(10.02)(3.60)7.156.25(5.40)(6.55)(7.75)
Net change in cash0.53(0.77)(1.66)(9.60)6.12(3.08)(2.38)
Closing cash1.588.6911.3723.5933.617.2419.46
ParticularsFY 2022-23FY 2021-22FY 2020-21FY 2019-20FY 2018-19FY 2017-18FY 2016-17
Growth
Sales growth+72.8%+55.1%-75.5%-51.8%+36.0%-28.4%-
EBITDA growth-9.5%+49.3%+18.8%-108.6%-4.5%+57.4%-
PBT growth+24.4%+49.8%+18.0%-103.8%-39.0%+63.9%-
Net income growth-36.8%+26.8%+43.4%-129.5%+1.5%-297.8%-
Revenue CAGR (3Y)-13.0%-43.2%-45.6%-22.3%-7.3%-10.7%-5.5%
EBITDA CAGR (3Y)-23.3%-5.0%+20.9%-2.5%-+44.5%+169.6%
Profitability & leverage
Net income margin-13.9%-30.3%-96.7%-29.2%-6.5%-7.7%-13.7%
Return on capital employed0.0%-8.1%-9.5%-18.4%-6.3%-4.8%+0.3%
Return on net worth0.0%-12.0%-13.3%-20.6%-7.0%-6.6%-1.7%
Debt / equity0.140.160.100.030.010.020.04
Long-term debt / equity0.000.000.000.000.000.000.00
Interest cover-17.15-16.24-8.72-4.71-8.26-6.41-2.22
Efficiency & per share
Fixed asset turnover0.400.230.140.571.190.711.08
Inventory turnover1.430.890.521.703.152.723.84
Debtors turnover44.5820.292.7710.1621.1713.9014.49
EPS (β‚Ή)(3.63)(4.59)(9.44)(11.61)0.000.000.00
Dividend per share (β‚Ή)0.000.000.000.000.500.600.50
Book value per share (β‚Ή)32.6036.1440.4549.9862.5368.4173.55
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue16.9025.7125.0917.6914.2031.6627.936.41
Revenue growth (YoY)+19.0%-18.8%-10.2%+176.0%+14.4%+151.1%--
Other income0.159.810.100.010.012.280.160.30
Total expenses17.7628.6524.7116.7515.0226.1628.3810.50
EBITDA(0.86)(2.94)0.380.94(0.82)5.50(0.45)(4.09)
EBITDA margin-5.1%-11.4%+1.5%+5.3%-5.8%+17.4%-1.6%-63.8%
Depreciation0.220.200.250.250.170.170.190.20
Interest0.020.070.190.210.170.180.570.66
Profit before tax(0.95)6.600.040.49(1.15)7.43(1.05)(4.65)
Tax0.01(0.87)1.270.04(0.07)0.600.09(0.09)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue88.6459.3565.7679.5746.0529.69121
Revenue growth+49.4%-9.8%-17.4%+72.8%+55.1%-75.5%-
Other income2.400.730.698.142.103.343.36
Total expenses82.5483.3682.5694.4759.9057.01155
Employee cost17.4618.9123.3722.8819.2517.3744.95
EBITDA6.10(24.01)(16.80)(14.90)(13.85)(27.32)(33.69)
EBITDA margin+6.9%-40.5%-25.6%-18.7%-30.1%-92.0%-27.8%
Depreciation0.840.791.121.391.351.702.42
Interest0.862.552.382.842.472.531.70
Profit before tax6.80(26.62)(19.61)(10.99)(15.57)(28.21)(34.45)
Tax1.840.070.250.31(0.21)0.480.88
Net profit3.74(14.98)(20.07)(18.54)(14.73)(18.20)(31.53)
Net profit margin+4.2%-25.2%-30.5%-23.3%-32.0%-61.3%-26.1%
EPS (β‚Ή)1.63(8.78)(6.53)(3.71)(5.05)(9.44)(11.62)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital6.086.086.086.086.086.086.08
Reserves & surplus51.9547.1973.6393.06104118147
Shareholders' funds (net worth)58.0353.2779.7199.14110124153
Secured loans0.000.0010.6410.4517.7018.859.11
Unsecured loans3.007.007.000.060.080.000.00
Total debt3.007.0017.6410.5117.7818.859.11
Total liabilities66.3566.01104117136153165
Assets
Gross block171187197198204205212
Net block77.7785.1788.5289.6091.8893.2295.27
Capital work in progress0.000.000.000.000.000.000.00
Investments0.000.000.000.000.290.701.43
Inventories33.3030.6043.5660.1450.7752.9562.18
Sundry debtors1.246.001.342.441.133.4118.05
Cash & bank balances2.632.990.441.588.3510.6422.06
Loans & advances14.719.397.607.906.514.737.89
Total current assets51.8848.9852.9472.0666.7671.73110
Total current liabilities54.1660.6532.1239.8219.4216.4348.39
Net working capital(2.28)(11.67)20.8232.2447.3455.3061.79
Total assets66.3566.01104117136153165
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash2.140.191.310.440.821.694.84
Net cash from operating activities1.190.33(6.50)(5.84)(0.83)(22.25)(27.35)
Net cash from investing activities3.3714.720.3916.734.0513.8517.95
Net cash from financing activities(4.78)(13.11)5.00(10.02)(3.60)7.536.25
Net change in cash(0.22)1.95(1.12)0.87(0.38)(0.87)(3.15)
Closing cash2.632.990.441.588.3510.6422.06
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+49.4%-9.8%-17.4%+72.8%+55.1%-75.5%-
EBITDA growth+125.4%-42.9%-12.8%-7.6%+49.3%+18.9%-
PBT growth+9998.0%-35.8%-78.4%+29.4%+44.8%+18.1%-117.2%
Net income growth+125.0%+25.4%-8.3%-25.9%+19.1%+42.3%-
Revenue CAGR (3Y)+3.7%+8.8%+30.4%-13.0%-43.2%-45.6%-22.3%
EBITDA CAGR (3Y)-+20.1%-15.0%-23.8%-2.9%+7.8%-9.1%
Profitability & leverage
Net income margin+5.6%-45.0%-30.2%-14.2%-33.4%-96.6%-29.2%
Return on capital employed+7.5%0.0%0.0%0.0%-9.1%-9.5%-16.1%
Return on net worth+4.9%0.0%0.0%0.0%-13.1%-13.1%-18.4%
Debt / equity0.090.190.160.140.160.100.03
Long-term debt / equity0.000.000.000.000.000.000.00
Interest cover16.35-10.28-13.28-17.43-16.25-8.72-4.71
Efficiency & per share
Fixed asset turnover0.490.310.330.400.230.140.57
Inventory turnover2.771.601.271.430.890.521.70
Debtors turnover24.4916.1734.7944.5820.292.7710.15
EPS (β‚Ή)1.63(8.78)(6.53)(3.71)(5.05)(9.44)(11.62)
Dividend per share (β‚Ή)0.000.000.000.000.000.000.00
Book value per share (β‚Ή)19.0817.5226.2132.6036.0540.8250.34

Investments & Acquisitions by Manugraph

Manugraph has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Dauphin Graphic Machines.

Acquisitions
Company NameDescriptionDomainLocationFoundedAcquiredAmount
Inappropriate content
dauphingraphic.comElizabethville, United States1973Nov 2006$19.2M
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Timeline of Manugraph

3 dated milestones of Manugraph across 34 years, from founding to its latest funding, stage changes and deals.

  1. Founded Manugraph is founded.
  2. IPO Lists on the stock exchange (IPO).
  3. Acquisition Acquires Dauphin Graphic Machines.

Web traffic of Manugraph

The website of Manugraph (manugraph.com) receives about 1.4K visits a month.

  • Monthly visits
    1.4K

    ▲ 5% vs previous month

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Top companies in Contract & Outsourced Manufacturing

3 companies that operate in the same segment as Manugraph (Contract & Outsourced Manufacturing) in India, ranked by their profile score on The Company Check.

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Industrial components, mould bases, and storage solutions are manufactured globally.
1986Coimbatore, Tamil Nadu, IndiaUSD 28 MUSD 853.09 M43
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1993Mumbai, Maharashtra, IndiaUSD 114.37 M618
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1979Bengaluru, Karnataka, IndiaUSD 400 M40,280
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Frequently Asked Questions about Manugraph

Manugraph was founded in 1972.

Manugraph is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.

Manugraph has 8 employees.

The primary company behind Manugraph, Manugraph India Limited, reported revenue of β‚Ή91.04 Cr for FY 2026, up 49% year on year.

Manugraph was established in 1972 by founder SM Shah in Mumbai, India. Operations are focused on the manufacturing sector, where web offset presses for printing applications are produced. The company serves the printing industry through design, assembly, and distribution of machinery. Activities are primarily based in India, with emphasis on offset printing equipment for commercial and newspaper sectors.

Manugraph offers WebMail Client and Exchange ActiveSync.

Yes, Manugraph is publicly traded on NSE under the ticker symbol MANUGRAPH.

Manugraph has made 1 acquisition, including Dauphin Graphic Machines.

Manugraph operates through Manugraph India Limited.

The legal entities of Manugraph currently have 8 directors, including Sanjay Sanat Shah, Pradeep Sanat Shah, Basheera Juzer Indorewala and others.

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