Salzer Electronics Ltd Share Price

History of Salzer Electronics Ltd

Salzer Electronics Limited was incorporated on January 08, 1985, for manufacture of Electrical Installation Products and Components viz., CAM Operated Rotary switches, Selector Switches, Wiring Ducts, Voltmeter Switches, copper wires and cables and allied products addressing customers in the electrical equipment, power, medical equipment, automotive as well as renewable and uninterrupted power system spaces, in a single and unified segment. The Company is among leading players offering Total and Customized Electrical Solutions in Switchgears, Wires & Cables and Energy Management business in India. It caters to a wide range of products with five In-house manufacturing facilities located in Coimbatore. Promoted by Salzer Group, the Company was established for manufacture of electrica ...l installation products such as CAM operated rotary switches, switch gear products and allied products and is an ongoing concern since then. Prior to this, it was engaged in manufacture of Cam Operated Rotary Switches, Terminal Connectors & On Load Isolators. The company introduced new products such as 'S' Line series,Phase changing control panels and Switch fuse units in the year 1990. The company has made an entry in Australian Market in 1991 through the dealer VGL IMPEX PTY LTD,Australia and the quality of the products are been well accepted in Singapore,Malaysia,Australia,Greek,USA and Middle East. The company has commissioned a Wind Mill of 225 KW capacity in the year 1995 at Kathenur in Coimbatore to generate power from the wind for captive consumption. In 1996, M/s Salzer Exports Pvt Ltd became the subsidiary of Salzer Electronics Limited.Later M/s Salzer Spinners Limited became subsidiary of Salzer Electronics Limited. In the same year,the company had issued Bonus Shares at the ratio of 1:1. Further the company has also issued Right Shares at the ratio of 1:1 immediately after the Bonus Issue. Consequently,the paid up share capital of the company has been increased from Rs.0.72 crores to Rs.2.41 crores after Bonus and followed by the Rights Issue. The present Issued & Paid up Share Capital of the company is Rs.2.75 crores. The company had amalgamated M/s Salzer Controls Limited(SCL) with the due approval from High Court of Chennai in 2001-02. The present installed capacity of Cam Operated Rotary Switches,Terminal Connectors and On Load Isolators are 10,00,000 nos, 5,00,000 nos, 1,00,000 nos respectively. The Company is also contemplating to develop new products of electro mechanical switches to meet the requirements of the automobile industry. It is also roping with L & T Ltd and Crompton Greaves Ltd for marketing its products both in domestic and international markets. In 2006-07, the Company established a joint venture company, Salzer Global Services, LLC, which acquired 50% control of M/s. Global Technicaltalent Inc. In 2007, the Company accordingly disinvested its holdings of 2,40,000 equity shares of Rs. 10/- each in M/s.Salzer Exports Ltd for a value of Rs.52.80 lakhs and similarly disinvested 5,36,000 equity shares in Salzer Spinners Limited for a value of Rs. 16.08 lakhs. It established a unit at UNA, Jalgran Tabba, for manufacture of modular switches. It implemented an Energy Saver project in the North Zone of Madurai Municipal Corporation by installing around 375 Energy Saving equipments at a project cost of Rs. 190 lakhs to save the electricity consumption. During the year 2007, a separate company was incorporated by name M/s.Salzer Cables Limited, to implement this project at a project cost of Rs. 1550 lakhs. It invested USD 300,000 in Salzer Global Services LLC, a limited liability company in the State of New Hampshire, USA to further the presence of Salzer in the international market consistently. With the approval of the shareholders of both Transferor (Salzer Gables Ltd) and Transferee Company (Salzer Electronics Ltd) and also with the sanction of the Hon'ble High Court of Judicature at Madras, the Salzer Cables Ltd was merged with Salzer Electronics Ltd with effect from 01 April, 2008 and consequent upon the Merger, the paid-up capital of the Transferee Company (SEL) increased from Rs. 662.50 lakhs to Rs. 1028.37 lakhs. In 2014, the Company formed a joint venture, M/s.Salzer Global Services, LLC, USA (SGS) with 40% controlling interest in United States. As part of diversification, M/s. Salzer Global Services, LLC acquired 100% controlling interest in a IT and ITES Corporation viz., M/s.Global Technical Talent, Inc, USA, a leading outsourcing firm providing services for the IT and ITES companies in USA and Canada. The Company in 2015 entered into a strategic alliance with C3 Controls, and started manufacturing contactors. It innovated and designed two new products, fuse change over system' for railway signalling and track feed battery system' for changing over the battery chargers in the railway track feeding system for the Indian Railways. In FY 2015-16, the Company sold out around 13% stake in Salzer Global Services LLC, USA which is having complete controlling interest in Global Technical Talent, INC, USA. During the year 2016, Larsen & Toubro Limited, which held 26,79,808 equity shares constituting 26.06% of equity stake in the Company, sold off its entire holdings as a part of its treasury transactions. During Financial year 2016-17, the Company disinvested balance 27% stake in Salzer Global Services LLC, USA taking into account the business exigencies. In 2018-19, Company acquired the whole of business undertaking of Wire and Cable Segment from Salzer Magnet Wires Limited (SMWL) on slump- sale basis as a going concern in pursuance of Business Transfer Agreement effective March 08, 2019, and resultant, SMWL transferred all its Assets and Liabilities for a total value of Rs 2,029.10 Lakhs for consideration other than cash. M/s. Kaycee Industries Ltd, became a Subsidiary of the Company effective from July 11, 2019. In 2022, the Company formed a joint venture company named Salzer Kostad EV Chargers Pvt Ltd, with an Austria-based company. The company, through its wholly owned subsidiary, Salzer EV Infra Pvt. Ltd., formed a JV named Salzer EMarch Electromobility Pvt. Ltd., in association with EMarch LLP (IndoAustrian technology firm with abundant resource and knowledge in Electric Conversion Kits & power electronics). The Company's strategic entry into the smart metering market represents a significant milestone for the Company in FY 2022-23. The smart meters produced by the Company, incorporate 3 modern communication protocols- GPRS (mobile technology), RF mesh and NB-IoT-ensuring compatibility with today's energy metering needs. The Company also integrated its meters with various RF technology providers across the country in 2023. In 2024, the Company insulated flat wire and the newly introduced LAN cable in the Wires and Cables Division in 2024. It established a manufacturing facility with an annual production capacity of 40 million meters in Phase I and secured approvals from pivotal energy sector regulators. The Company has entered the the Energy Management space by securing a significant Energy Efficiency Project from the Bruhat Bengaluru Mahanagara Palike (BBMP), costing Rs 192 Crore in 2025.