Surana Telecom and Power Ltd Share Price

History of Surana Telecom and Power Ltd

Surana Telecom And Power Ltd was incorporated as a Private Limited Company on 14 August, 1989 as Surana Petro Products Pvt. Ltd and was engaged in manufacturing of Petro Products such as Petroleum Jelly and Telecom products such as Jointing Kits. Thereafter, the Company got converted into a Public Limited Company on 09 July, 1993. In 1994, the Company ventured into the Telecom sector with the production of Optic Fibre Cables and consequently, name of the Company was changed to Surana Telecom Ltd on 05 August, 1994. In 2007 the Company diversified into power sector with manufacturing of low tension and high tension power cables and setting up of 1.25 MW wind power generation plant. In order to reflect the diversity, the name of the Company was once again changed to 'Surana Telecom and Power ... Limited' on 11 October, 2007. The company' products cater to the telecommunication sector and are engaged in manufacture of heat-shrinkable jointing kits, cable splicing/filling compounds, Jelly filled telecommunication cables, wire connectors, end caps, modular connectors and HDPE pipes. In Nov.'94, the company diversified into the manufacture of Optical Fibre Cables. It set up facilities with an installed capacity of 4000 FKM pa at the existing premises at Cherlapally near Hyderabad. The technical assistance for the production of optical fibres is from Rosendahl, a 100% subsidiary of Alcatel. Commercial production commenced in Jul.'95. The company has a tie-up with Amritsu, Japan, for the manufacture of PCM and optical test equipment. It has also entered into the manufacture of other telecommunication products like drop wire connectors and other products.STL exports to Thailand, Germany and Portugal. Company has plan to increase the installed capacity of Jelly Filled Telephone Cables for improving sales & Profitability of company. Company has received orders from PIJF cables for 22 Crores from DOT. Company has offered 14,00,000 Shares out of its Shareholding to Bhagyanager Metal Ltd for buyback by company. During the year 1999-2000, the Company has increased its installed capacity for jelly filled Telephone Cable to 10 LCKM and the next phase of expansion to 12.5 LCKM is underway. The installed capacity of the Optic Fibre cable has also been increased to 6000 Route Km, These expansions have been funded wholly out of internal accruals. The Company has applied to the Department of Telecommunications, for Licence for providing Internet Services. The Company has entered into a memorandum of understanding with Sriven Multitech Limited, for setting up a joint venture company, for providing multimedia applications and broadband network of touchscreen kiosks providing information and entertainment content. The company is in the process of establishing a manufacturing facility at Goa for the manufacture of Jelly Filled Telephone Cables, Jointing Kits, Optical Fibre Cable and Optical Devices. The company has commenced the trial production of it's Gao facility in the year 2000-01. The company has received fresh orders worth Rs.30 crores for supply of Jelly Filled Telephone Cables and Optical fibre Cables which has to be executed by April 2005. The company has also moved into the Handheld segment and has offered CDMA colour display handheld terminals to MTNL.STL is also setting up facilities to manufacture switch mode power supply based battery chargers which can increase the talk time by nearly seven times as against the conventional battery in case of power failures. The Company diversified into new lines of activities of Power Cables and started manufacturing XLPE and PVC Power Cables up to 33 KV and further started production for manufacture of Power Cables upto 400 sq.mm and 1.1 KV capacity, which got implemented in 2006. In 2007, the Company started the production of LT (Low Tension) Power Cables. It initialized the setting up of the manufacturing facility for the manufacture of Aluminium CC Rods of 7.6mm & 9.6mm diameter. It purchased a 1.25MW Wind Turbine installed by Suzlon Energy Ltd at Kapatguda Site, in Karnataka costing Rs 6.30 Crores and WTG was commissioned on 30.03.2007, which started generation of electricity. In 2007-08, the Company incorporated a Wholly owned subsidiary Company viz., M/s Globecom Infotech Private Limited on 11.07.2008 to make a strategic investment in setting up IT and ITES facilities. The year 2007-08 was a transformational year for Company in terms of Demerger, where the 'Solar Division' of the Company got demerged with the Company and merged with M/s Surana Ventures Limited by Scheme of Arrangement, which became effective on 28.07.2010. Resulting to the said Demerger, the shareholders of the Company were allotted equity shares of M/s Surana Ventures Limited in the ratio of 3 equity shares of Rs.10/- each of M/s Surana Ventures Limited for every 4 equity shares of Rs. 5/- each held by them in the Company. The Company in 2011-12 ventured into Solar Power Generation and commissioned Solar Power Plant with 5 MW capacity at Charanka Village in Gujarat on 16.1.2012 and as such, the power project started supply of power to the grid from 04.03.2012. M/s. Celestial Solar Solutions Private Limited became the subsidiary of the Company w.e.f 28.01.2013 and M/s Surana Solar Systems Private Limited became the subsidiary of the Company w.e.f 10.06.2013. M/s Surana Solar Systems Private Limited, the Company's subsidiary started 5 MW Solar Power Plant at Shankapur, Medak Dist, Telangana, which got commissioned in January, 2015. The Scheme of Arrangement between the Company, Surana Telecom and Power Limited and Bhagyanagar Properties Private Limited and their respective Shareholders and Creditors was implemented in 2015-16. According to Scheme of Arrangement, 5 MW Solar Power Plant and Investments of Bhagyanagar India Limited (BIL) was transferred to the Company. For solar business: STPL issued 4 equity shares for every 6 shares held by shareholders of BIL. STPL issued net 3,17,37,963 equity shares of the face value of Re.1 each. The above additional shares issued as per the Scheme of Arrangement got listed on BSE Limited (BSE) and National Stock Exchange of Limited (NSE) and commenced trading w.e.f. 15.05.2017. M/s.Aryavaan Renewable Energy Pvt. Ltd., a subsidiary of the Company commissioned its grid connected 5 MW Solar Power Plant at Barhara Village, Sarila Tehsil, Uttar Pradesh on 08.02.2017, M/s.Tejas India Solar Energy Pvt. Ltd., a Subsidiary Company completed erection of 3 MW grid connected Solar Power Plant at Gajwel Mandal, Medak District, Telangana .