UMIYA BUILDCON Share price

The Company was established by 2 first generation technocratpromoters in 1984 with the principal objective of carrying outnetworking computing. With an initial focus on trading anddistribution of these products they subsequently set-upmanufacturing facilities having recognized the market potentialof these products.Starting off with indigenously manufacturing line drivers andmodems today they offer an entire range of sophisticated andstate-of-the-art WAN and LAN products. The Company has in itsportfolio a wide range of products which enables it to offercomplete end-to-end networking solutions. MRO-TEK has kept upwith the quality standards and has been recognized as an ISO9002 company. It has gained approvals of many qualityinstitutions and all its products carry the certifications ofseveral major industries including the approval of TEC. MRO-TEKhas an installed base of more than 250000 data communicationsdevices covering major public and private sector companies.MRO-TEK is one of the few Indian companies with a focus onsolutions for data communications & networking and hasestablished joint ventures and strategic alliances with leadinginternational network and datacom companies to remain at thecutting edge of technology and marketing strength. The Companyhas 9 alliance partners ranging from technical partnershipsjoint venture manufacturing value-addition and after salessupport services. MRO-TEK has around 37 channel partners inIndia with the Western and Southern parts of India being themajor markets for their products.In October 1996 Nandi Investments Limited Mauritius awholly-owned subsidiary of Commonwealth Development Corporationhas invested in 42.55% of the equity of the Company. This fundedthe creation of additional manufacturing facilities and growthin markets for the Company.In February 1998 Development Investment Trustee Company Limited(Information Technology Fund) invested Rs 200 lacs by way ofDebentures with equity warrants for conversion upto a maximum ofRs 150 lacs attached conversion relating to which has beenexercised in December 1999. The outstanding amount value of theDebentures after adjusting for conversion of the attachedwarrants aggregates to Rs.5000000/- (Rupees fifty lacs only).The salient features of this investment were :-1) 10 per cent interest on the principal amount of thedebentures2) conversion of the warrants into equity shares on or beforeJune 15 20003) pre-emptive right of DITCL to be issued and allotted equityshares in order to maintain its stake in the equity sharecapital of the Company.The company registered a turnover of Rs.1060 million in FY 2000.The major clients were DoT Indian Army Satyam and Dishnet. Thecompany has grown over 50% per annum in the last five years. TheCompany has been ranked as 6th largest among the NetworkingVendors in India % (Source Voice & data vol 6 issue 11 datedMay 2000). The Company is a leader in the leased line modemsegment commanding a market share of around 67% (Source : Voice& data vol 6 issue 11 dated May 2000).