|Numeric Power Systems Limited has been incorporated as a Public Limited Company on 12th September, 1994 and obtained the Certificate of Commencement of Business on 21st September, 1994. It has its Registered & Corporate Office at 63, Cathedral Road, Madras.
The company has been promoted for corporate conversion of the existing non-corporate concerns of the NUMERIC group namely M/s. Numeric Controls & Systems and M/s. Hi-Power Corporatio, both the entities having consistent track record, business connections and technical expertise.
The company has continued to carry on the operations previously carried on by the non-corporate concerns, with the confirmed orders and standing contracts on hand. Since the conversion into a corporate entity, the operations in the non-corporate entitles have been totally stopped,
having been carried on by the company, and the process of dissolution is awaited for completion of residual operations.
The company has been established as the flagship of the group, for manufacture of UPS systems, with all the existing group concerns/companies made as the ancillary units/contract manufacturing units to service the company.
The group is having the credit of designing specialised circuits for UPS Systems and power conditioners and of having been made the largest number of installations in the country. The company has 8 regional, offices under its fold to market its product and a servicing network of 39 service centres manned by qualified technicians.
The company is additionally supported on the technical front by Technical collaboration with M/s High Performance Drives Inc., USA for manufacture of high frequency MOSFET based UPS Systems and power conditioners.
The company has been awarded the following ranks by SOFTDISK (Corporate Magazine of the ACP) in the Power Electronic Industry analysis carried out by them. (Source: SOFTDISK Volume: V - 001, Feb-Mar '96).
UPS Manufacturer of the year 1
Power Electronic Company of the Year 2
Power Electronic Equipment
manufacturer of the year 1
The company has been ranked 85th on an All India basis in the Information Technology industry which besides UPS segment, includes Software, Hardware and Computer Peripheral segments. [Source: DATAQUEST (August 16-31, 1995)].
The company has been appointed as the authorised dealer for internationally renowned Merlin Gerin UPS systems of GROUPE SCHNEIDER, France for installation in specific projects and has been agreed to be provided with technical expertise and training in their brand of UPS systems.
The company has also been appointed as a dealer by INFORMATION SYSTEMS PTE. LTD, SINGAPORE for sale of Information Technology Products.
The company has already established two manufacturing units at Sedarapet, Pondichery, one being a large scale automated plant and has established a Modernised automated CNC fabrication unit at Semmanchery Village, Madras.
The history of the company could be understood by observing the track record and operations of the non-corporate entities which are detailed below.
Numeric Controls and Systems
A manufacturing unit in operation since 1987, NCS has been one of the main production centres of NUMERIC, with a strong technical team and its expertise to handle all levels of technology for manufacture of UPS Systems. NCS was producing UPS systems based on Linear Technology - the
first design to be developed by Numeric, which has continued to provide consistent performance over a decade.
The unit had developed all detailed drawings and component structure for various ranges and designs of UPS Systems and was instrumental in standardising the structure and layout for a range of such systems, with a view to build the foundation for a large scale expansion which is being implemented in this project. NCS was a partnership concern
with Mr. G. Ramasubramaniam, one of the promoter of the company, Mr. S.R. Mani and M/s. Numeric Engineers (a proprietary concern represented by Mr. R. Chellappan) as partners. The details of M/s. Numeric Engineers, the partner of NCS is given below.
M/s. Numeric Engineers, represented by Mr. R.Chellappan, was inducted as one of the Partners of M/s.Numeric Controls and Systems, as on 30.11.1994. The inclusion of the concern as partner was carried out by take over of net current assets, infrastructure, pending orders etc, without any revaluation or business fee.
M/s. Numeric Engineers was the main unit of the NUMERIC GROUP, engaged in the production of UPS systems for 8 years upto 1992 with exclusive technology developed in-house. In 1992, the concern shifted its manufacturing activities and technologies to its group concerns and focused its attention on marketing, installation and maintenance of
NUMERIC brand UPS system manufactured by group concerns. This was done with the specific objective of giving a focused attention to the customers from a single organisation, which could represent the group concerns providing a wide range of UPS systems & other products. To
strengthen its marketing & servicing activities, the concern established several Regional offices and service centres spread all over the country.
The consolidated financial performance of Numeric Controls and Systems & Numeric Engineers for the previous years are given below.
Hi-Power Corporation was promoted as a partnership firm in 1989, for the purpose of distribution of batteries used in UPS systems, in which Mr. R. Chellappan and Mr. G. Ramasubramanian were partners at the time of corporate conversion.
HPC sourced and supplied batteries to the manufacturing units of the group. It was also engaged in the maintenance and service of the same. HPC had regular trade arrangements with almost all the leading UPS manufacturers in the country. The firm had turned out to be one of the largest suppliers of HITACHI brand maintenance free batteries from
Japan, upon a trade arrangement with Shin Kobe Electric Co Ltd., Japan.
Batteries act as standby source of power with UPS systems. The synergy of operations has led to the merger of the firm's operations with that of the corporate forum newly formed.
The above non-corporate entities, had their own distinct activities which are related to each other, and have now been consolidated into a single corporate entity, to capitalise on available potential and reap the benefits of economies of scale with all other related advantages.
The company has met out the consideration of Rs. 102 lakhs, representing the gross identified current assets less current liabilities of the non-corporate entities, by issuing 9,45,000 equity shares at par aggregating Rs.94.50 Lakhs and treating the balance of Rs. 67.50 lakhs as Unsecured loans. No revaluation has been effected in the process. The non-corporate entities have not procured any land or building, and none of the fixed assets have been valued on conversion, though the full right of enjoyment of all the items of assets have been passed on to the company.
Prior to the conversion of the non-corporate entities, the company had no assets of its own and had no business of its own. All the Partners of the firms are directors of the Company, except Shri S.R. Mani, partner of M/s. Numeric Controls and Systems who has opted out of the Board but
continues to be involved as a regular executive of the company, in the cadre of Executive Director.
The Agreement for corporate conversion provides for transfer of the entire business of the non-corporate entities to the company, with full benefits of all pending orders and existing business connections, supported by all infrastructural facilities and transfer of trained manpower. The agreement also provides for carrying on the entire
business of the entities by the company with full rights to use such phrases as "Previously Numeric Controls & Systems" etc., to indicate that the business has been previously been carried on by the said non-corporate concern and that the same is being carried on by this company in succession.
The company has no subsidiaries.
-Numeric joins hand with Socomec to mkt UPS units
-Numeric Power Systems Limited has informed vide its letter dated November 19, 2007 that: Mr. S. Krishnamurthy has been appointed as Company Secretary and Compliance Officer of the Company with effect from November 01, 2007.
-Numeric Power Systems Ltd has appointed Mr. R Venkataraghavan as an Additional Director (Independent Director) of the Company.
-Swelect Energy Systems has given the Bonus in the Ratio of 1:1
- The Company has entered into a Memorandum of Understanding, with the majority stakeholders of M/s. Amex Alloys Pvt. Ltd., Coimbatore for acquisition of Equity Shares upto 92% and to take over the Management Control of M/s. Amex Alloys Pvt. Ltd.
- The Company has acquired 100% stake in M/s. Amex Irons Pvt. Ltd. situated in Coimbatore.
- Numeric Power is now Swelect Energy.
- Swelect Energy buys 49% stake in HHV Solar.
- Interim dividend of Rs. 120/- (Rupees One Hundred Twenty Only) per equity share.
-Company has changed its name from Numeric Power Systems Ltd. to Swelect Energy Systems Ltd.
-Swelect Energy acquired stake in HHV Solar for around Rs 22 crore.
-Company also acquired 8% Equity Shares in Amex Alloys Private Limited.
-Swelect Energy buys 51% stake in HHV Solar.
-Commissioning of 10 MW SPV Solar Power Park near Musiri Taluk, Trichy
-Swelect Energy Systems bags 10 MW Solar Power project.