Asian Electronics Limited

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BSE Code: 503940       NSE Code: ASIANELEC

Business Profile
Business Profile
Asian Electronics (ASIANEL), incorporated in 1964, is involved in designing, manufacturing and marketing of energy efficient products and specializes in lighting solutions.

The company operates in the segments of manufacture and sale of lighting products, manufacturing and operating lease of energy conservation products, and plant and machinery. The consumer lighting group looks after domestic sales and marketing of consumer and industrial lighting products and luminaries focusing on energy efficiency. It offers more than 30 product lines including popular products like compact fluorescent lights, dome lights, street lights, dualities, outdoor luminaries and power-saving products to replace conventional tube lights. The professional lighting group (PLG) focuses on professional projects providing lighting solutions especially in the retail, infrastructure, information technology (IT) and IT-enabled sectors.

Manufacturing facilities are located at Nasik, Solan, Chennai and the Union Territory of Silvassa. In FY07, joint ventures were established with companies of the Future group. Asian Retail Lighting was promoted with Home Solution Retail India for providing lighting solutions for the retail industry, and Home Lighting India was promoted with Home Solution Retail India for providing home lighting solutions for the retail segment. The company is empaneled with the Bureau of Energy Efficiency (BEE). It has a 50% business interest in Midcom Magnetics Management, a company manufacturing wound components.

Domestic customers include local municipalities and utilities, railways, Big Bazaar, Maharashtra State Electricity Distribution Company, and Central Power Distribution Company of Andhra Pradesh. With a strong distribution network of branches and marketing offices, the company has a pan-India network comprising of over 500 distributors and dealers and over 130 marketing consultants. The PLG division has bagged major orders from IT companies in Hyderabad, Bangalore, Mumbai and Chennai during the year. Asian Electronics LLC, USA, is a 100% subsidiary.

The registered office is located at D-11, Road No 28, Wagle Industrial Estate, Thane-400604, Maharashtra.

Financials
Asian Electronics swung to loss for the quarter ended September 2008. During the quarter, the company reported loss of Rs 148.20 million compared with a profit of Rs 298.20 million in the same quarter previous year. Net sales declined marginally 60.22% to Rs 384 million, while total income for the quarter fell 60.42% to Rs 385.90 million, when compared with the prior year period. The company reported loss of Rs 4.96 a share during the quarter compared with earnings of Rs 20.29 a share in prior year period.

Recent Developments
30-JUN-08
The board of directors decided to withdraw the scheme of arrangement for merger of Green Hydrocarbons India and the Operations Division of U.S. Instruments with the company.

29-MAY-08
On May 29, 2008, the board of directors approved disposal of 49% stake held by the company in the share capital of its joint venture company, STS PCB, Ireland.

19-MAR-08
Asian Electronics has clarified with reference to the news item in electronic media (mainly in CNBC TV18) stating that a winding-up petition is filled by Global Trade Finance against Asian Electronics for alleged default of repayment of about Rs 20 million.

15-JAN-08
Director of Asian Electronics informed that the company is in a pact with HPCL to process refinery bottoms into fuel. They also intend to foray into power generation via a JV and that they intend to set up a 800 MW power generation capacity in three years.Asian Electronics has also entered into a JV with the Future Group to capitalize on the retail boom. Some of their clients include Reliance Fresh, Big Bazaar and the Maharashtra State Electricity Board. He said that they are expecting robust growth in the core lighting business.

03-JAN-08
Asian Electronics is planning to raise up to Rs 3,000 million via equity and debt. The money would be invested in the energy segment in about 8-10 months time.

Other Information
Annual Reports for Asian Electronics Limited
Annual Report YearDownload Annual ReportDownload Report Preview
2013-14
2012-13
2011-12
2010-11
2009-10
2008-09
2007-08
2006-07
2005-06
2004-05
2003-04
2002-03
2001-02
2000-01
1999-00
1998-99
1997-98
1996-97

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