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Power Electronic Industry Analysis Year Ending March 2023...
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Classification of UPS Battery - a Costly interruption?...
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WINDOWS 7 : Too good a software...
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Retailing Market : Now making a statement...
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Gender Equity : Not an even match...
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Technology : The new education Enabler...
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Wireless IP-based communications architecture...

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DATA NEWS
NUMERIC SELLS ITS UPS BUSINESS UNIT TO LEGRAND, FRANCE.

One of the leading power electronics companies in India, Numeric Power Systems Ltd sold its UPS (uninterruptible power supply) system business to Legrand of France for Rs 837.08 crore. NPSL said its board of directors approved on February 9 sale of the UPS business of the company to Indo Asian Electric Pvt Ltd, a wholly owned subsidiary of Legrand France SA, for Rs 837.08 crore.

The deal includes Numeric's subsidiaries in Sri Lanka (Numeric Lanka Technologies Pvt Ltd) and Singapore (Numeric Power System Pte Ltd). The board also approved the sale of the UPS business undertaking of Numeric Power System Pte. Ltd (100 per cent subsidiary), to an affiliate in Singapore of Legrand France S.A., for an aggregate $4,500,000. To give effect to this transaction, the parties concerned have entered into a Business Transfer Agreement. The company will continue to carry on the other activities like green energy - solar and wind power, iron and alloy foundry production, LED lighting, etc.

The €4.25-billion Legrand is an electrical and digital building infrastructure company. The board had recommended a “special dividend” out of the proceeds to its shareholders. On the NSE the share of Numeric closed at Rs 281.50.

Legrand's India subsidiary, India Asian Electric Pvt Ltd has bought the business from Numeric along with the rights to the brand name, trademark and the IP”, Mr R. Chellappan, Managing Director, Numeric Power Systems, told a press conference.

Mr Chellappan said that Numeric would also transfer three of its nine manufacturing and trading facilities — two in Puducherry and one in Parvanoo (in Himachal Pradesh), to Legrand.

“As for now, the management of the UPS vertical will remain with the Numeric’s present management, and all our 2,600 employees will be intact with the brand”.

What makes eyebrows go up is that the UPS vertical has been the company's core business, contributing over 90 per cent of its Rs 535-crore turnover (for 2010-11). Where will the company deploy these funds?

Apart from the ‘special dividend', a substantial portion of it will also be invested in growing the company's green energy (solar power) division. “In fact, we are in talks with a couple of players in the solar power industry,” he said. Besides solar power, Numeric also has play in the steel castings industry with Amex Alloys, which it acquired in 2011.

Numeric is one of the leading UPS brands in the country with 16 per cent share of the overall UPS systems market. “Our market share was 20 per cent in the online UPS market and we command over 75 per cent in the BFSI (banking, financial services and insurance) business segment,” Mr Chellappan said.

Numeric Power Systems, which has just got richer by Rs 830 crore after divesting its core business UPS systems, says its immediate engagement will be with solar energy.

While not wishing to give out details, the company's Managing Director, Mr R Chellappan, said that the company is looking at presence in two areas – EPC jobs and storage systems (batteries).

“We know the solar business,” he said, pointing out that apart from building two 1 MW plants, Numeric has done close to 1,000 rooftop solar plants across the country. For one of the 1 MW plants, Numeric is its own EPC contractor.

The plant, near Coimbatore, would be put under the “REC scheme”. The other plant, near Sivaganga, is almost ready for commissioning.. The electricity it generates will fetch Rs 18.45 a unit.

Mr Chellappan said that the company has capacity to take 25 MW worth of EPC jobs. As a company that has dabbled in batteries for long, Numeric now wants to produce battery packs for storing solar power.

He said that a rooftop system would cost around Rs 200 a watt, all costs included.

Numeric Power Systems Ltd has informed the BSE that the board of directors of the company at its meeting held on February 24, has approved the change in name of the company subject to the shareholders’ approval and consent of the Union Government.

Consequent to the above, it was resolved to hold an extraordinary general meeting at 4 pm on March 21 for the purpose of obtaining the approval of the shareholders on the proposed change in name.

Commenting on this, Mr Yves Martinez, Managing Director, Legrand India, said: “It is our objective that Numeric, Legrand and Indo Asian Switchgear will keep their current network, product catalogue, teams, commercial terms, and continue to develop fast on their own.”

Legrand intends to accelerate the growth rate of all brands, by continuing sustained growth investments - such as launch of new products, addition of commercial manpower and international expansion.

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SD Awards
SD's UPS AWARDS
SD Awards 2023
Survey Highlights
SD's Power Electronic Industry Analysis, year ending March 2023
How They Faired
SD's Top 10
Power Electronic Companies
SD's Top 10
Indian Power Electronic Companies
SD's Top 5
Online UPS Manufacturers
SD's Top 3
Line-Interactive UPS Manufacturers
SD's Top
Home UPS/CVT/Inverter Company
Special Awards
SD's UPS SURVEY
SD's UPS Users' Choice Awards 2023
Companies to Watch
SD Users' Satisfaction Rating
SD's SOLAR AWARDS
SD's Solar Market Analysis 2023
SD's Top 5, Indian Rooftop Solutions Company of the year ending March 2022-2023
SD's Top 3, Indian Grid Sharing Solar Power Solution Provider of the year 2022-2023
SD's Top 5, Indian SPCU (Non String) Manufacturers of the year 2022-2023
SD's Top 3, Indian Off-Grid / Hybrid Solar Power Solution Provider of the year 2022-2023