Some of the interesting points from annual report:
New areas for revenue growth:
#1
Our PLT batteries are fast catching the attention of Data Centre consultants and entities, aided by their performance, total cost of ownership, and safety over conventional VRLA and lithium options. We hope to make deeper inroads into this large and rapidly growing business space
#2
we are working with the Ministry of Aviation and the Director General of Civil Aviation (DGCA) to deploy NCSP batteries in all civil aircraft flying in India under the Atmanirbhar Bharat initiatives. When this happens, maybe a few years into the future, it will open an interesting growth window for the
HBL. → This will be huge opportunity, how to calculate the opportunity size ?
#3
We are also working on products for new generation aircraft and helicopters, recently acquired by the Indian Air Force and currently under development in India.
#4
We made considerable progress in this area. We undertook road trials of our electric drive train (EDT) solution on a 7.5T truck, demonstrating encouraging results with our solution’s performance and energy efficiency. → New area of opportunity for the company ?
#5
The fruits of our transformation journey have only started to show. Our high-value business segments, namely Electronics and Defence, where we enjoy an oligopolistic position, have come under the spotlight as our products and solutions secure approvals from user sectors
→ Not observed such bullish statements earlier.
All these things did not happen overnight, it’s a result of decades of R&D, sweat and toil: The battery division was started in 1977 which is the bedrock of the company and In 2002, the Industrial Electronics and Railway Signalling domains developments were started and in 2007 the Kavach development began and Kavach became a commercial business only in 2022.
Change in the group Composition:
HBL Tonbo Private Limited (HTPL) was incorporated by HBL Power Systems Limited and Tonbo Imaging India Private Limited on September 12, 2022 with a sharing ratio of 51:49. There were no commercial operations since inception of HTPL. Subsequently, it was decided to explore other opportunities to carry on the intended business. The Board of Directors of HTPL in their meeting
held on March 08, 2023, resolved to apply for voluntary striking off the name of the Company from the register of the Registrar of Companies under Section 248(2) of the Companies Act, 2013 read with rules made thereunder. In view of the decision of the Board of Directors HTPL, a provision for diminution of 100% value of investment in equity shares of HTPL of Rs.51,000 (being 51%) has been made during the reporting period.
There is no mention of Electro Optics products/Tonbo products in the table for business segment, which was present in the Q1 presentation under Rapid growth vertical.
Following is from Investor presentation in Feb2023.
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