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We are an established electric equipment manufacturing company in India, manufacturing a diverse portfolio of electric equipment, including, metering solutions, switchgears, lighting equipment and wires and cables, catering to consumer and institutional customers in the electrical equipment industry. We had the largest market share in the market for electricity energy meters in India in fiscal 2015, with one of the widest portfolios of meters in India and the fifth largest market share for LED lamps during the corresponding period (Source: Frost & Sullivan Report, February 2016). Our manufacturing capabilities are supported by a large sales and distribution network with a pan-India presence. We currently manufacture and sell our products under the umbrella brand ‘HPL’, which has been registered in India since 1975. We supply our products through a network of authorised dealers or distributors to institutional, non-institutional and corporate customers. We supply switch gears, lighting
equipment and wires and cables, primarily through our pan-India authorised dealer network, which comprised of over 2,400 authorised dealers or distributors as on March 31, 2016, from our warehouses located in 21 states and union territories in India that are managed by our carrying and forwarding agents. Our authorised dealers or distributors further sell our products to over 15,000 retailers in India. In addition, we supply our products to Power Utilities, which primarily includes supply of meters under direct contractual arrangements to electricity boards and power distribution companies, as well as through project contractors. Further, we supply our portfolio of products to developers of residential and commercial building projects, OEMs and to industrial customers through a mix of direct sales and supply through our authorised dealer network. Our sales and marketing activities are managed through over 90 branch offices and representative offices in India as on March 31, 2016. We believe that our research and development capabilities have enabled us to keep abreast of technological developments in the electric equipment industry. We have a strong focus on consistently upgrading the technology that is used in our products and the processes used in manufacturing thereof, through our continuing research and development efforts. We have established two in-house research and development centers, the Kundli R&D Centre and the Gurgaon R&D Centre. Our research and development efforts include design and development of all types of energy metering solutions, including interactive communication between metering devices and metering infrastructure that includes AMR and AMI, prepayment metering solutions, solar net metering solutions, smart meters with two way communication and a complete range DLMS compliant meters, amongst others, and technologies and solutions that allow for active monitoring of energy consumption for electric equipment. For instance, we have developed a street lighting system that helps in saving manpower through automatic settings for sunset and sunrise timings and remote energy metering and dimming of such lights during off-peak hours to save energy
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