Phoenix Lamps Limited
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BSE Code:
517296
NSE Code:
HALONIX
Business Profile
Business Profile
Phoenix Lamps is an Indo Japanese joint venture. It was promoted in the year 1991 in Noida, about 45 minutes away from the International airport of New Delhi.
The company has set-up a fully automatic state-of-the-art manufacturing facility for automobiles halogen lamps, halogen lamps for general lighting and compact fluorescent lamps.
The company has a total investment for over USD 30 million and its units have a massive productions infrastructure, setup over three different locations, which can annually deliver over 80 millions lamps benchmarked to international regulations for quality, performance and safety.
The company offers an extensive range of over 500 different types of products to suit varied customers needs and applications. The current customers base ranges from aftermarket buyers to OE manufactures and also includes reputed international brands.
Argon India, Argon South Asia along with Actis Indiafund 2 LP (AIF) have made an open offer to the shareholders of Phoenix Lamps to acquire up to 4,769,860 equity shares of Rs 10 each, representing 20% of the voting rights in the company, from the remaining equity shareholders at a price of Rs 152 per share payable in cash. However, the price was later revised to Rs 190 per share.
Financials
Phoenix Lamps registered net sales at Rs 724.28 million and posted profit after tax (PAT) at Rs 79.96 million for the 3 month period ended Dec. 31, 2006 as compared to the net sales at Rs 625.04 million and profit after tax at Rs 56 million for the same period last year.
For the financial year 2006, the net sales stood at Rs 2327.21 million and net profit stood at Rs 235.35 million as compared to the net sales at Rs 1929.35 million and net profit at Rs 123.27 million for the previous year.
Recent Developments
25-FEB-08
Phoenix Lamps has entered into a marketing pact with China`s lighting product maker NVC to sell specialty lamps for malls, showrooms and hotels in India.
20-APR-07
Phoenix Lamps has entered into Distribution and Dual Brand Agreement with Eveready Industries India for its range of General Lighting Lamps.
07-FEB-07
Phoenix Lamps India is tripling production capacity of compact fluorescent lamps(CFL). The company has set up a greenfield plant at Haridwar with a capacity of 45 million units of CFLs which would commence production later this year and cater to both branded as well as bulk unbranded supplies to other lighting companies. CFLs are slowly replacing traditional bulbs in residences and commercial buildings.