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Luminaire Technologies Ltd.

BSE: 526045 Sector: IT
NSE: STRAUSIND ISIN Code: INE682C01021
BSE LIVE 10:04 | 29 Aug Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.20
PREVIOUS CLOSE 0.20
VOLUME 900
52-Week high 0.20
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.20
Sell Qty 820319.00
OPEN 0.20
CLOSE 0.20
VOLUME 900
52-Week high 0.20
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.20
Sell Qty 820319.00

Luminaire Technologies Ltd. (STRAUSIND) - Company History

Luminaire Technologies is engaged in the business of Information Technology (IT), Hardware, Software and providing IT enabled services, helpdesk support, network maintenance and technical support to its clients. Luminaire Technologies originally incorporated on July 22, 1985 under the Companies Act, 1956 as Nandini Syntex. The name of the company was subsequently changed to Strauss Industries & Exports and a fresh certificate of incorporation, consequent on change of name was obtained on July 3, 1995. The name of the company was finally changed to the present name Luminaire Technologies (LTL) and a fresh certificate of incorporation was obtained on December 09, 1999. The company was earlier in the business of finance and trading of textile and yarns. Subsequently, the company diversified its business in manufacturing and exports of leather garments in May 1993. The companys factory was located in Chennai and it exported the entire production to European countries. During 1998 a lot of tanneries were forced to close down due to pollution problems thus making it difficult to procure raw materials in time. As a result the companys production schedule and business was also affected. After this the management again decided to diversify the activities of the company into computers and software, Information Technology related business. The directors then identified a group of professional and started its activity in software business. LTL in association with ITI Bangalore had successfully installed multi-service wide area captive network for Welspun India connecting their factories and offices located at nine different places in India. The entire project was executed on turnkey basis using 64kbps leased line to provide voice/fax, data and video services. Welspun uses DOT network for its telephone line and its own 9.6/64 kbps leased line for data communication. As per the contract, Welspun operational units at Colaba, Chira Bazar, Andheri, Delhi, Palghar, Vapi, Rakholi, Surat and Dahej have been inter connected to support voice, data and video conferencing facility. This network was first of its kind where the video conferencing service was supported on 64kbps leased line. The entire project was executed in 3 months (including the time taken for commissioning of the line) and handed over Welspun in July 2000. LTL has successfully developed a Thin Client Terminal (TCT) which is a low cost solution to corporate companies, which are using standard PCs as of now. The thin client is based on Cyrix Geode Processor and hard real time operating system. The objective of developing the same is to provide appropriate solution for the proposed object, which involves large number of terminals for accessing information and data across the network. LTL has developed business cases to address corporate customers network requirement where it will leverage by offering TCTs as user access terminals that offers, protection against technical obsolescence. The other benefits offered by TCTs are bare minimum investment on operating and application software since it requires to be loaded only at the server. TCT being a mere I/O device, the processing is done and the data are stored at the server, which ensure data integrity. The company sees good potential in the entertainment industry and its contribution to the overall growth of economy. The business prospect in the Entertainment Industry looks more commercially viable in comparison to the IT Sector. The company has altered its objects clause of Memorandum of Association (MOA) of the company by inserting the Entertainment related objects and to enable the company to start its activities in media related activities through postal ballot. In view of immense competition in the IT Industry and concentration of major business in the hands of few giant players, it is imperative for the company to think to diversify its area of operations.