Numeric Power Systems held its Eleventh Annual General Meeting on July 08, 2006 at Chennai. Mr. Veeramani, the Chairman of the company, chaired the meeting supported by the company Managing Director, Mr. Chellappan and other members of the Board.
Numeric Power Systems is engaged in the manufacturing and trading of Uninterrupted Power Supply (UPS) systems and accessories. The company has its manufacturing facility at Pondichery, Chennai and Himachal Pradesh. The company also provides maintenance and other after sales services in respect of UPS systems through a network of branches and sales centers situated across the country.
Highlights of the meet:
- Numeric Power registered a Net Sales of Rs 224 core, a rise of 39% on annualized basis for the year ended Mar 31, 2006. Similarly the PAT registered a 20% rise on annualized basis to Rs 16.83 crore as against Rs 21 crore for the 18-month fiscal ended Mar 31, 2005.
- The company recommended a final dividend of 40% to its shareholders, payable on or before 5th August 2006.
- The company’s business can be divided into five verticals - first vertical targeting IT and Power companies, the second targeting Banks and other financial institutions, the third catering to health care projects, fourth to government projects and SMEs and finally the fifth targeting home invertors. Each vertical is growing at the rate of 30% annually.
- Some of their major clients are – Microsoft, Intel, EMC, Infosys, Wipro, RBI, ICICI, HDFC, Siemens and Philips.
- In the banking and financial segment, the company’s UPS system supports majority of the ATM sites and the company commands almost 75% market share in this segment.
- In order to increase the market reach and efficient service to all the customers the company has added 34 new service centers during the year, which takes the overall number to 156 locations in India.
- The company has added new subsidiaries in Mauritius and extended their network to South Africa, Kenya, and Costa Rica etc.
- The company has installed 3 windmills of 500 KW capacities each near Dharapuram in Tamil Nadu for captive consumption. All the three units have been commissioned on 22nd March 2006 and capitalized in the books of accounts. Any surplus power generated from the unit will be sold to TNEB.
- The company has newly launched Numeric Digital HP series up to 6 KVA models and the advancement to the mid range systems up to 60 KVA. These new products adapt advanced digital control systems within them. It is also in the process of obtaining Patent for its R&D work in this front.
- The company has been marketing, distributing and servicing 3-phase UPS systems of MGE Asia Pte Ltd. in India since 1996 pursuant to a Sales & Service Agreement entered into between the parties. The parties on March 15, 2006 have mutually agreed to terminate the Agreement with effect from June 15, 2006. Currently Numeric has formulated partnership deal with French company who are better placed in technicians compared to MGE Asia Pte Ltd.
- The LME prices of raw material are increasing. The price of lead, which constitutes around 70% of the battery, has shot up by 80%. Similarly the copper price has also skyrocketed with 100% compared to previous year.
- The company is clear that it would not go for strategic tie-ups involving share in equity in order to protect its shareholders value.
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