Salzer Electronics Ltd commences new manufacturing facility at Hosur

Salzer Electronics Limited (BSE: 517059, NSE: SALZERELEC), a capital goods engineering Company offering total and customised electrical solutions, has commenced a new manufacturing facility at Hosur, Tamil Nadu at an initial investment cost of Rs. 15 Cr in order to expand the capacity of high demand products like Wire Harness and Toroidal Transformers initially. The investment is will through internal accruals.

This new strategically located rented manufacturing facility spread over 8 acres of land which covers area of around 30,000 sq. ft aimed to create additional capacity as well as being closer to our customers. In First Phase the Company will use 15,000 sq. ft and balance in the second phase. The commercial production expected to commence from March 2023. Creating this facility at Hosur with proximity to presence of large Auto Component Suppliers, Two Wheeler Manufacturing companies, and other world leading manufacturers of electrical products in the region would gain more momentum with quick delivery and improve focus on customer requirement and satisfaction.

Commenting on this development, Mr. Rajesh Doraiswamy, Joint Managing Director, Salzer Electronics Ltd said: "I am happy to announce that we commenced a new manufacturing facility at Hosur, Tamil Nadu with an investment cost of Rs. 15 cr in order to expand the capacity for our high demand products like Wire Harness and Toroidal Transformers initially. With this new manufacturing facility, Salzer aims to provide timely delivery and high quality products to customers in India and abroad.

Strategically, as part of our growth and to follow a customer centric approach so as to serve our customers with more attention and less time, we made this humble beginning outside Coimbatore and going forward, the scalability of this Unit would increase based on demand for and growth of these products.

In line with our ethos, we continue to build on our technological capabilities while staying abreast with new trends and opportunities in the industry. I would like to thank the entire team of Salzer and all our stakeholders for supporting us and taking us forward."

Shares of Salzer Electronics Limited was last trading in BSE at Rs. 289.05 as compared to the previous close of Rs. 292.50. The total number of shares traded during the day was 14644 in over 529 trades.

The stock hit an intraday high of Rs. 295.15 and intraday low of 285.60. The net turnover during the day was Rs. 4257933.00.

Source : Equity Bulls

Keywords

SalzerElectronics INE457F01013 NewManufacturingFacility Hosur TamilNadu WireHarness ToroidalTransformers