Analyst Meet / AGM     25-Aug-09
AGM
Numeric Power Systems
To venture into solar power
Numeric Power Systems held its 14th Annual General Meeting of the shareholders on 22nd Aug 2009 in Chennai.

Mr. Chellappan, Managing Director of the company, addressed the shareholders on the performance of the company in financial year 2009.

Highlights of AGM:

  • The company has begun solar energy project - generation and manufacturing. As of now, the company has begun to execute orders for solar power generation as the company has knowledge on assembling and installing power panels as its done at all its facilities (rooftop panels). It plans to set up assembly line in Coimbatore, Tamil Nadu. The company's initial investment was Rs 25 crore. It would venture into on ground solar power generation soon.
  • The company will be developing LED lightning solutions towards which it plans to establish manufacturing plant.
  • It recommended bonus equity share issue of 1:1 subject to approval of shareholders.
  • It declared dividend of Rs 5 per equity share for FY 09.
  • The share of Information Technology in the company's revenue has come down from 20% to 10% in FY 09. However the fall in IT was compensated by revenue from SoHo and SME.
  • Marketshare of 20% in online segment of UPS.
  • Marketshare of 16% in overall range (online & offline) of UPS.
  • Its service centre has increased from 214 in FY 08 to 228 in FY 09.
  • It is planning to get delisted from Madras Stock Exchange.
  • The company exited from the JV – SOCOMEC Numeric UPS PVT in July 2008 as it intends to become independent player in 3 Phase UPS systems and Solar power projects. It transferred its 50% share to other partner SOCOMEC S.A in July 2008.
  • It has presence in 12 countries.
  • The company exports to U.S.A, South America, U.K, Canada, Africa, China and other Asia Pacific countries.
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