Modison Ltd Share Price

History of Modison Ltd

Modison Limited was formerly incorporated as 'Modison Metals Limited' as a trading unit in 1965, by Mr. G.L. Modi, to deal in tool steels and export of engineering and general merchandise. Later, the name of the Company was changed from Modison Metals Limited' to Modison Limited', pursuant to the fresh Certificate of Incorporation dated 22nd July, 2022. Founded in 1965, Modison Limited is a brand to reckon with in the manufacturing of electrical contacts for switchgear in India and globally. It has stood amongst a handful of companies around the world that manufactures electrical contact materials and finished contacts for all the areas of the switchgear industry including Low, Medium, High and Extra High Voltage. It also produces goods for dominant sectors such as automotive, enginee ...ring, aerospace, marine, defense, and railways. The Company works plants at two locations in Western India namely Vapi and Silvassa, employing more than 500 people. Modison has the advantage of developing a wide range of silver contacts for diverse industries. Its plant is amongst the largest single site for High Voltage electrical contact manufacturing globally, thereby enjoying a low-cost advantage. It operates in two business segments: Electrical Contacts and Silver Flatware. Presently, the Modison Group has plants at two locations in Western India, viz. Vapi and Silvassa. A decade later in 1975, Mr. G.L. Modi established the first manufacturing facility in Mumbai, for refining of silver and started exporting large quantities of refined silver to renowned bankers and dealers in Europe and U.S.A. MODISON was instrumental in establishing '999' Good Delivery Silver Bars in India for bullion trading. Within two years after starting silver refining, the company's founder realized the vast potential for Electrical Contacts and Contact Materials for switchgear industry and thus facilities were added to manufacture silver and silver alloy wires, plates, strips and solid/ bitmetal contacts. This was the beginning of Modison's contacts manufacturing at Mumbai. The company soon realized that in order to cater to the market needs, the company must have a sound technical and R&D back-up. With this in mind the company signed up technical collaboration with DODUCO KG, Pforzheim, Germany, in 1983, the world's leading manufacturer of contact materials. From 1983 till 1996 Modison had technical collaboration with DODUCO. The excellent technical support from DODUCO helped Modison develop many hi-tech products, which were hitherto, imported by Indian Switchgear Industry. In 2009-10, the Company installed automatic contact welding and forming line; in 2011, it developed silver compound business; developed high performance current carrying contacts; in 2017-18, it acquired M/s. Modison Contacts Private Limited for expansion of business. In April 2019, the Company initiated the process of forming a Joint venture Company as a subsidiary Company of Modison Metals Limited to manufacture tungsten metal products. For expansion, it entered into a MOU for purchase of land at Vapi costing Rs 9.10 Crores.