Suprajit Engineering Ltd Share Price

History of Suprajit Engineering Ltd

Suprajit Engineering Limited was incorporated on May 24, 1985 as a private limited company and was converted into public limited company in June, 1995, promoted by K Ajith Kumar Rai. The Company is engaged in the business of manufacturing of auto components consisting mainly of control cables, speedo cables, auto lamps and other components for automobiles. The company is one of the major suppliers to the original equipment manufacturers viz. TVS Motors Ltd, Hero Honda Motors Ltd, Escorts Automotives Ltd, Kinetic Honda Motors Ltd, RHW India Ltd and Whirlpool Washing Machines Ltd. SEL's products are very well established with OEMs confirming to their quality standards. To meet the continued increased requirement of the customers, the company increased the capacity from 24 lakh cables to ...36 lakh cables, the cost of which was met by contribution from the promoters and their group. During Oct'95, SEL came out with an public issue of 16,16,700 equity shares of Rs 10/- each for cash at a premium of Rs 20/- per share aggregating to Rs 4.85 crores to set up a separate unit for manufacture of instruments such as speedometers, odometers, tachometers, fuel guages etc. in technical collaboration with Chao Long Motor Parts Corporation, Taiwan. In 1997-98, the company has expanded its installed capacity from 48,00,000 to 60,00,000 Nos Cable. Both the units of the Company under the Cable Division were certified ISO-9002 by SGS Yarsley International Certification Services Limited, U.K. The company continued their technical colloboration with Chao Long Motor Parts Corp., Taiwan and has also absorbed their technology. The company has also developed specialised cables for the automotive sector during the year apart from developing various cables for two wheeler industries. In 2001-02 the automotive cable unit at Manesar Industrial Area has started its operations. The total installed capacity of Cable till March 2003 was 170.00 lacs. During 2002-03 a state of the art cable plant was set up at Manesar Industrial area,new New Delhi, The company has acquired Shah Concabs Private Ltd,a privately owned automotive cable manufacturer. The company has expanded its installed capacity of Cables by 11000000 and with this expansion,the total capacity has risen to 28000000(nos).Later again during the FY 2004-05,the company expanded the capacity by 8000000 and thereby the total has risen to 36000000(nos). On 12th of May 2006,the company has acquired the assets and business of CTP Gills Cables through its wholly owned subsidiary in UK-Gills Cables Ltd.Simultaneously,the acquisition of balance 50% stake in the 100% EOU CTP Suprajit Automotive Private Ltd held by Carclo Plc has also been acquired by the company.In the process,both Gills Cables Ltd,UK and CTP Suprajit Automotive Private Ltd are now whollyowned subsidiaries of the company. During the year 2015, the Company acquired, on a slump sale basis, the cable division of Pricol Limited. The building construction at Pathredi was completed. In FY 2015, the Company signed a Share Purchase Agreement to acquire 61.88% stake in Phoenix Lamps Limited. An Open Offer for the shareholders of Phoenix Lamps Limited to acquire an additional 26% was launched. The Company acquired 61.93% in the fully paid up Equity Share Capital of Phoenix Lamps Limited, completed the transaction in line with Share Purchase Agreement signed on 6th May, 2015 and accordingly, with this, Phoenix Lamps Limited became subsidiary of Company. On 18th April, 2016, the Company and Phoenix Lamps Limited were merged and set the Share Exchange Ratio 4:5 i.e., Suprajit offered 4 shares for every 5 shares held by Shareholders in Phoenix. For every 4 Equity Shares of Suprajit, 5 Equity Shares of Phoenix were issued. The Company acquired Wescon Controls, LLC, USA on September 9, 2016 through its Wholly Owned Subsidiary Suprajit USA, INC. In 2020, it acquired India Halogen Assets of Osram from Messrs Osram India Private Limited on 4th October, 2019. The new plant at the Doddaballapur Industrial Area started commercial production in December 2019. During the year 2022, Company acquired Light Duty Cable (LDC) business unit from Kongsberg Automotive ASA (KA), supplying to automotive, non-automotive and 2-wheeler segments along with Electro-Mechanical Actuators (EMA) and completed the transaction on 6th April, 2022 and accordingly, LDC business unit became the part of Suprajit. In 2022-23, the newly formed Suprajit Electronics Division (SED) started commercial operations on November 2, 2022. The Narsapura facility was enhanced to meet increased customer requirements. A comprehensive aftermarket facility at Bommasandra was made operational. In FY 2024-25, Company acquired Trifa Lamps Gmbh from Luxlite Lamps on February 06, 2024, as part of restructuring of Phoenix Lamps Division.