CHANDIGARH: From the green revolution to the silicon revolution is a radical change which has silently taken place in Punjab.
Of the existing 15-odd companies of the Punjab State Electronics Development and Production corporation: Eltop Punjab Communications Limited PCL has Achieved the distinction of having made it to the exclusive group of telecommunication companies with its turn over crossing Rs 100 crore mark.
The Eltop Managing Director Mr G.S Sandhu told TNS yesterday that audited gross sales of YCL in 1992-93 were worth Rs $7.22. Crore and it recorded a gross profit of Rs 21.79 crore after tax deductions the net profit was Rs 10.95 crore. Against this provisional figures for the last year 1993-94 ‘showed a gross sale of Rs 116.76 crore and a gross profit of Rs 30.~9 Crore. The net after tax deduction being Rs 19.07 crore
In other words the profit to net sales in terms of percentage was 26.83 in 1992-93 and 29.12 in 1993-94; an increase of 2.29.
The PCL Mr Sandhu said had foreign collaboration with multinational companies located in Japan Italy France the UK the USA and Germany
Already several technology transfer agreements and memoranda of understanding have been signed with foreign firms and now a new range of products supplied to the customers. These included 7 GHz microwave system VLSIMUX. MAX-L switch and 256P RAX Switch. On the anvil are negotiations with certain parties for obtaining technology for 6 GHz microwave system and SDH (synchronous digital hierarchy) range of multiplexing equipment’s.
The PCL the Managing Director said was planning to obtain technology for RSU (remorse switching unit) from C-DoT for supplementing the installed capacity of SBM and MAX-L exchanges.
In fact budding against global tender through a local representative at Dubai PCL has emerged as the lowest bidder for supply of MUX to UAE. The total value of the tender in US dollars is 500,000. We have already dispatched two terminals for field trials he added.
Additional land was being acquired under the expansion programme to undertake production of new products like V-SAT OTLE and Higher Order Multiplex in Mohali. The PCL in view of its performance has been awarded PI rating for issue of commercial paper (CP) for Rs 8 crore the limit has now been increased to Rs 10crore. Mr Sandhu disclosed that the PCL would be entering the capital market with a public issue in July. He said even after a bonus of 15 shares for every one share held a Rs 10 (face value) share is likely to be marketed in a price band of Rs 130 Rs 150.
In collaboration with the department of electronics the corporation has set up an electronic research and development center to carry out region-specific industry and rural oriented activities. This will be a great asset to small and medium electronic unit’s research the state. An electronic hard ware technology park is on the anvil. For export of software yet another software technology park is proposed. Most of the subsidiary units of the corporation Punjab
Power Packs Limited for example was in the red There were reports of going in for golden handshake in some companies.
To encourage electronics industry the corporation offers a package of incentives as well which range from capital subsidy to exemptions from sales tax octroi. land subsidy generating set subsidy special subsidy for employment priority for power connection exemption from electricity duty to purchase tax etc.
Article extracted from this publication >> June 10, 1994
