VOLTAMP TRANSFORMERS Share price

History And Background of our Company:Our Company was originally started as a Partnership firm in the year 1963 by the name of M/s Voltamp Corporation. The firm was jointly formed by our Promoter Mr. Lalitkumar H. Patel along with his relatives (late) Mr. Babubhai H. Patel and Mr. Navinchandra R. Patel to manufacture transformers. At that stage the key technical expertise was provided by Mr. Lalitkumar H. Patel who was a U.K. educated electrical engineer and had a basic training on design aspects of transformers with a German Company Siemens GmbH and their Indian Licensee Bharat Bijalee Limited. The initial activities of the Partnership firm were manufacturing and marketing of distribution transformers and also their repairs.Further in 1967 our Company was incorporated under the Companies Act 1956 pursuant to a Certificate of Incorporation No. 1437 of 1967 dated March 2 1967 issued by the Registrar of Companies Gujarat. The Company was jointly promoted by the families of Mr. Lalitkumar H. Patel Mr. Babubhai H. Patel and Mr. Navinchandra R. Patel to take over business of M/s. Voltamp Corporation as a going concern. Our Company continued the business of manufacturing transformers and simultaneously increased the capacity of transformers manufactured upto 10000 KVA 66KV for utilities and industrial clients.In 1989 our Company became a deemed public company as our turnover in FY 1989 crossed the limit then laid down for private companies as per Section 43A of the Companies Act 1956. In November 1998 Our Company entered into a technical agreement with Mora Tranformatoren GmbH Germany for manufacture of Vacuum Resin Impregnated Dry Type Transformers. With this we forayed our entry into higher technology environment friendly and high margin products moving us up in the value chain.In December 2001 our Company entered into a technical license agreement with German Company M/s. Hochspannungstechnik und Transformatorbau GmbH having experience of 40 years for manufacture of Cast Resin Dry Type Transformers.In 2001 the concept of ?deemed public company? was deleted under the Companies Act 1956 and therefore we converted back to private company under section 43A(2A) of the Companies Act 1956.Our Company has over the span of 42 years developed full fledged facilities for the design manufacture material handling testing and after sales service of transformers. We cater to majority of the industries inter alia cement sugar paper petrochemicals oil refining steel and pharmaceuticals. Our clientele include blue chip companies like Reliance In addition leading solution providers like L & T ABB Siemens Bharat Forge Binani Cement Welspun group Arvind Mills J. K. Cement Hindalco Industries Gujarat Alkalies and Chemicals and Balakrishna Tyres Torrent Power Wartsila India Suzlon Energy Kirloskar Brothers are our customers. Our Company is also an approved vendor of a consulting organization of GoI.We have an established product marketing network covering metro and mini metro cities which enable us to reach and service our existing and potential customers through our 9 branches spread over the country.Our Company has become a public limited company and a fresh certificate of incorporation was issued on February 22 2006.HISTORY AND MAJOR EVENTSYear 1970 Commenced manufacture of transformer upto 10000 KVA 66KV for utilities and Industrial clients1981 Commenced manufacture of 132 KV Class Transformers1986 Commenced manufacture of 50 MVA 132 KV Class Power Transformers1998 ISO 9001:2000 Accreditation for quality assurance for design manufacture and after sales services by M/s. KPMG Peatmarwick LLP U.S.A.1998 Entered into Technical License with M/s. Mora Tranformatoren GmbH Germany for manufacture of Vacuum Resin Impregnated Dry Type Transformers and subsequently started manufacture of the same.2000 Commenced manufacture of Induction Furnace Transformers.2002 Entered into a Technical License with M/s.HTT Hochspannungstechnik und Transformatorbau GmbH Germany for manufacture of Cast Resin Dry Type Transformers and subsequently started manufacture of the same.2005 Our Company increased its total capacity to 5400MVA in FY06 from 3000 MVA in FY03.