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Friday, June 12, 2009

Innocorp Ltd:-Can it a be a future multibagger?

Scripscan:Innocorp Ltd

Story:Innocorp is a result of an untiring and focused tryst of a young team, whose sole aim was to excel and excel. With this being the cornerstone of their philosophy,under the guidance of the CEO / Chief Promoter, Mr. Prasad VSS Garapati,Innocorp has achieved today’s rock solid position amongst the peers. Innocorp,as the name suggests, thrives on innovation and at the same time, doing it on the corporate scale. Being a conformist, rather than a confrontationist is the apt description of this more than one-decade young company.The CEO firmly believes that a company must always think ahead and at the same time laterally in order to garner the opportunities that come in the way in order to take the company from stride to stride. A step at a time – with consolidation being the mantra to be adhered at all the times.With this innovative mindset and untiring efforts, today, INNOCORP can say that with all certainty their efforts have yielded impressive harvest and it’s a forward looking and growth oriented conglomerate today!

Innocorp is:
1)Only manufacturer of Tupperware® outside their own facilities in south east Asia.
2)Manufactures Plastic Consumer Durables, FRP Insulators & other hi-tech
plastic products for various reputed and quality conscious customers.
3)Only Medium High Voltage (MHV) Cable manufacturer in South India &
4)The largest energy cable manufacturing facility in South India.
5)Possibly only entity in the power engineering, wherein the total turnkey
transmission jobs are undertaken with almost all major components
manufactured in-house – Transformers, Cables & Conductors, Insulators,
Line Hardware etc.,
6)Exporter of Cables and Software to UAE.
7)First to manufacture Import substitute ABC Cables in India.

Client base:The client base of the Company Includes various prestigious customers,Tupperware®, Neelkamal Plastics, GR Cables, all power utilities in the Country,Power Grid Corporation of India, NTPC, Atomic Energy Commission & Space Research Station, BHEL, ABB, L&T Etc.,There are two dedicated manufacturing facilities for the Company. The Plasticsdivision is in the Mallapur Industrial area, which is within city limits, in a RCC Shed of 2200 Sq.Meters in a prime land admeasuring about 3000 Sq.yards. The Cable manufacturing facilities that are under long term wet lease of the Company are located in a plot of 2,83,140 Sq.ft on the outskirts of Hyderabad abutting the Hyderabad- Bombay National High Way No: 7. The covered area of more than 1,00,000 Sq.ft, houses the facility with the capacity to manufacture a total volume of 15000 CKM of Cables of various types and voltages, out of which 5000 CKM is the capacity to manufacture High Voltage, Medium High Voltage Cables. Likewise, the plastics unit is capable of converting about 20 MT of material per day, depending on the type of the product that is being manufactured. The Primemachines are L&T Make and Imported ones in this plant, which meet the requirements of exacting customers.The Company has ISO 9000 certification from BVQI for its products. Its High Voltage (HV) Cables are type tested (Testing for 100% compliance with the reference standard specification as against the routine testing.) by M/s. CESI,reportedly one of the top five testing laboratories in the World. Innocorp is the first and only Company manufacturing LT XLPE cables with totally in house technology, which fact has been certified by the Bureau of Indian Standards(BIS).

Future Plans:Innocorp proposes to implement a massive vertical expansion of the facilities in order to derive the competitive advantage of scale in the next 18 months. At the same time contemplating to retire some of its high cost debts by seeking for a low cost borrowing.In addition to the production and sale of Cables, the Company is also aiming at providing turnkey solution Electrical utilities for implementing the critical SCADA soft ware.In near term, INNOCORP plans to de bottleneck both of its facilities by adding balancing equipment and materialhandling equipment. At the same time, plans are afoot to add capacity to manufacture cables upto 66 kV.On the frontiers, INNOCORP is in very active dialogue with various gulf based investors to establish a power cable manufacturing plant at UAE.Software front is being buttressed by commencement of operations at Dubai and by developing a core marketing team to market the SCADA programs to power utilities in the Country and abroad.Innocorp is also in the process of entering the field of Real Estate and construction, which is zooming northward. The company is entering into MOUs’ with various NRIs’ and corporates from the GULF in this regard.

Conclusion:Considering all these the future prospects looks good.Much would depend on the materialization of the projects.One can take a call on the counter at dips.

Source:Sonia sharma

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