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Shilchar Technologies Annual Report 2023 Summary

Updated: Oct 1, 2023

  • Shilchar Technologies Limited was incorporated in the year 1986 and started its business since then. It is engaged in the business of manufacturing Electronics & Telecom and Power & Distribution transformers. The company has recently ventured into the manufacturing of Ferrite transformers.

  • The Company has concentrated on catering needs of renewable energy sector including solar and wind energy in local market where in the Company has been enjoying commendable position being one of the top companies in India supplying transformers for renewable energy.

  • Key Highlights of FY 2022-23

o Operational Income: CY Rs. 28,024.12 lakhs v/s PY Rs. 18,018.21 lakhs

o Other Income: CY Rs. 808.12 lakhs v/s PY Rs. 335.48 lakhs

o Total Revenue: CY Rs. 28832.24 lakhs v/s PY Rs. 18353.60 lakhs

o Inventory Turnover Ratio: CY 10.26 v/s PY 6.13 (Due to increase in holding period of inventory in proportion of increase in sales)

  • The company is setting up advanced research facilities and investing in testing facilities across production stages. These initiatives have led to better product quality and an enhanced product mix.

  • The company aims to further boost research and development (R&D) investment in the future. Notably, in the financial year 2022-2023, Rs. 65.91 lakhs were spent on R&D, equivalent to 0.24% of total turnover, compared to Rs. 63.13 lakhs (0.35%) in the previous year.

  • Median employee remuneration: Rs. 25,207/- in the financial year, increased by 16.69% (Rs. 3,606/-).

  • Increase in managerial remuneration: 13.75% in the last financial year. Decrease in non-managerial salaries: Average of 6.135%.

  • Mr. Alay Jitendra Shah was re-appointed as Managing Director of the Company for a period of 5 years w.e.f 01.10.2022.

  • The Authorised Share Capital of the Company be and is hereby increased from Rs. 5 Crores divided into 50,00,000 Equity Shares of Re. 10 to Rs. 10,00,00,000 divided into 1,00,00,000 Crores Equity Shares of Re. 10.

  • The Company has taken BIS approval for many ratings of transformers during the year.

  • Government initiatives to upgrade grids and deploy advanced technology will drive power transformer industry expansion. Global demand will be fueled by increased use of 100 MVA to 500 MVA products in transmission networks.

  • The push for renewable energy installations also increases demand for transformers for solar and wind applications, especially in the Middle East and Africa.

  • Fluctuations in raw material costs (Copper, Steel, Oil) pose a threat to the transformer industry. Stable material costs in the past year mitigated this risk.



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