Salzer Electronics Ltd

Salzer Electronics Ltd

Salzer Electronics Limited was incorporated on January 08 1985. 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. The Company has a wide distribution network locally and globally exporting to more than 40 countries. In India Salzer markets its products through own distributors and more than 350 local distributors of L&T. Promoted by Salzer Group the Company was established for manufacture of electrical 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 seriesPhase 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 LTDAustralia and the quality of the products are been well accepted in SingaporeMalaysiaAustraliaGreekUSA 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 yearthe 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. Consequentlythe 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 SwitchesTerminal Connectors and On Load Isolators are 1000000 nos 500000 nos 100000 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 240000 equity shares of Rs. 10/- each in M/s.Salzer Exports Ltd for a value of Rs.52.80 lakhs and similarly disinvested 536000 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 300000 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 2679808 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 2029.10 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).