Avantel

AVANTEL AR 2022-23 Notes

Consolidated Net worth of the Company for the Financial Year ended March 31, 2023 is Rs.10748.17 Lakhs as compared to Rs.8142.08 Lakhs for the previous Financial year ended March 31, 2022.

Your Company has successfully completed all the deliveries of the 1 KW HF project of Indian Navy and the installations of HF Radio sets are currently under progress. The RTIS project with Indian Railways is currently under execution and shall be completed by October 2023. We have also designed, developed and supplied 5 Kw HF Transmitter systems which will be an import substitute for Indian Navy requirements. Your Company has successfully completed development of SATCOM System for Multi Utility Helicopters of Lockheed Martin being supplied to Indian Navy.

Future Prospects:

• Keeping in mind the future business prospects, this year your Company has also embarked on development of HF Software Defined Radios (SDRs) with 2G/3G ALE & ECCM Capability and different variants of MSS for submarines.
• Imeds Global Private Limited, subsidiary of Avantel Limited offering innovative medical solutions has commenced its operations from AMTZ, Vizag and the license for manufacture of Surgical Staplers and Removers has been granted. Imeds has also embarked on development of a non-invasive ventilator which is at an advanced stage and developing a patient monitor & syringe pump through Technology Transfer.
• Union Budget also outlays around Rs. 5.93 lakh crores which is 13.18% of the total Budget of 2023-24. Its 13% increase from 2022-23. Modernisation and infrastructural development has been increased by 6.7%. The sustained increase of the capital outlays in the defence budget indicates positive outlook from customer side for new inductions / new purchases by the Defence Forces and offers sufficient market space for your company to forge ahead and expand its footprint in the strategic sector.
• The recent announcement of Union Cabinet approval of the “Indian Space Policy 2023” is a great step in the direction and your Company expects to utilize the emerging opportunities to enhance its SATCOM and Space Technology portfolio. In F.Y. 2023-24, your Company focus would be around development of HF / VHF /UHF SDRs for ship borne as well as land-based platforms and design & development of Air Defence Radar systems for Indian Army.