It gives me immense pleasure to welcome you all to the 63rd Annual General Meeting of the Company. The year 2009 – 10 was marked by recovery and revival of the global economy. The global economy witnessed significant improvement in the year after having plunged into the steepest economic contraction a few years earlier. The turnaround was quicker than expected due to immediate corrective fiscal steps taken by various Governments all over the world.
During the year, the Indian economy had around 7.4% GDP growth with the manufacturing sector showing growth of over 10%. The prospects for the current year are also positive. The monsoon almost all over has been good which should give fillip to the Agricultural sector, which in turn moves the consumer demand which has a cascading effect for the entire economy. The growth is expected to continue over a few years at least as the country continues to spend large amounts for infrastructure development.
As you would have seen from the Annual Report of the Company, during the year under review, your Company achieved a turnover of Rs. 8.41 billion, as against Rs. 8.67 billion in the earlier year and the operations have resulted in a profit of Rs. 375.93 million as against Rs. 302.12 million in the year before. As you are aware, the Company has a subsidiary – Kirsons B.V. in the Netherlands and that subsidiary has a subsidiary – Lloyd Dynamowerke in Germany. During the year ended 31st March, 2010, Lloyd Dynamowerke (LDW) had a turnover of Euro 50.83 million with a net profit after tax of Euro 1.91 million. The turnover of Kirloskar Electric on a consolidated basis as such was Rs. 11.83 billion with a net profit after tax of Rs. 509.61 million.
Your Company manufactures and deals in the major products of the Electrical Industry and is an important player in the Electrical Industry. The Electrical industry is expected to benefit considerably with the growth of infrastructure sector and the huge investments in power sector. The higher power generation would result in manifold rise in transmission equipment demand. This will propel the demand for our Transformers and allied products. We are progressively going in for higher capacity and higher kV class ratings in our Power Transformers. In order to meet the new market requirement for distribution transformers in the Country, the Company is setting up a new Distribution Transformer unit at Mysore with state of the art technology. In the 11th and 12th plan, there is a shift of power requirement towards 220 kV class. Hence the Company is setting up new facility to manufacture transformers upto 250 MVA, 220 kV class from the existing 100 MVA, 220 kV class. In the year under review, we have successfully manufactured 62.5 MVA, 220 kV Transformer for Aaress Steels, Hospet.
In the Electronics Division at Mysore, we manufactured 630 kW, 415 Volts, AC Drive for roughing stand for Steel Rolling Mill Application at Aashiaya Rolling Mill, Ahmedabad. Ours is the first company to have installed AC drive for such application in India on Slipring Induction motor. The Company has indigenously developed both in door and out door type 11 kV and 33 kV Class Vacuum Circuit Breakers which are fully type tested at CPRI, Bangalore. The Company is also working towards developing gas insulated switchgear. The increasing investments in industrial sector, especially Ferrous, Steel and Fertilizers will see increase in demand for our Motor product lines.
Vision & Strategy
KEC's vision is to become a world-class engineering enterprise, committed to enhancing stakeholder value. The company is striving to give shape to its aspirations and fulfill the expectations of the country to become a global player.The greatest strength of KEC is its highly skilled and committed 3,000 employees.
The power of now is the energy of opportunities that come to us disguised as challenges. The power of now at Kirloskar Electric is the dynamics of making opportunities work as by meeting client's tough specifications of cost and quality.
Our Quality Assurance
KEC is committed to achieve customer's delight by effective deployment of its Business Process. Quality performance demonstrated is the result of optimization of design, effective process control in manufacturing together with testing and approval process in the environment of Quality management system. Further more, our trained and competent team strining towards continous improvement paves our steps towards sustaining the intrest of our valued customers.
System Quality
Product Quality
Process Quality
Service Quality
Our Founders
Shri Laxmanrao Kashinath Kirloskar was a successful industrialist, but his chief merit lay in the trail he blazed, for the principle in life he depended upon were his vision and a spirit of pioneering.
Shri Ravindra L. Kirloskar was the youngest son of Laxmanrao and Radhabhai Kirloskar, who later headed KEC operations. Having a degree in Electrical Engineering from the Worcester Polytechnic Institute, U.S.A. he began his professional career in Kirloskar Brothers. In 1942 he designed and built India's first Electric motor at Kirloskarwadi with his colleague N.K.Joshi. He guided us to the highest level of quality.
Board Of Directors
Mr. Vijay R Kirloskar - Chairman and Managing Director
Mr. Anuj Pattanaik - Deputy Managing Director
Ms. Meena Kirloskar
Mr. Lakshmanan A.S.
Mr. Agarwal S.N.
Mr. Anil Kumar Bhandari
Mr. Sarosh J Ghandy
Mr. V.P.Mahendra
Mr. Kamalesh Gandhi
Mr. D.Devender Singh
Mr. Berthold Groeneveld
Company Milestones
India's first satellite tracked Proud scientists celebrated the successful tracking of India 's first satellite. The meticulously planned event was held in Hassan, Karnataka. The team had finalized the specifications for AC generators with Kirloskar Electric Co., taking care of intricate details like transient loading and transient voltage regulation performance.
Missile test fired The first ever indigenously built missile was test fired in early 90's, year before; premiere defense organizations perfected the intricate performance requirement of the power supply unit. KEC played a key role in building the entire power supply unit. The AC Generators of KEC were customized for arduous duty.
India explores Antartica India was the first developing country to join the Antartica explorations. The task team behind this feat had done the homework right. They carried with them specially designed AC Generators, developed by KEC that worked perfectly in sub zero temperatures. Rajdhani flagged off The research wing of India Railways worked with specialists from KEC to design highly reliable AC Generators that would take that heat, dust, smoke and the acceleration of the bogie and continue to function giving passengers of the Rajdhani greater speed, greater comfort and increased safety.
Stealth ship launched On 18th April 2003 , national dailies splashed the launch of the first indigenously designed stealth ship. The ship has four KEC 1000kW AC Generators which are the result of our close association with Indian Navy, in the supply of AC Generators, for frontline battle ship.
Survival in Leh In the lab the Defense experts drenched it with salt spray, blasted it with sand, vibrated it, heated it in an oven, and rocked it over the bumps. In the field they hauled it from deserts of Rajasthan to marshy areas in Assam and yet the KEC AC Generator worked for decades. They wanted to verify whether the AC Generators bleeds as human do when they land up in Leh, the highest place inhabited on earth and they did id with success. That is why KEC remains the most preferred make by the Defense establishments.
Certifications
Bureau Veritas Quality International (BVQI) Bureau Veritas Quality International (BVQI) has certified the Quality Management System of KEC. We are also first in electrical industry to obtain ISO 9001-2000 certification by BVQI. The ISO 9001-2000 certificates awarded to : KEC - Bangalore, Hubli, Mysore, Tumkur. Confirmative Europeenne (CE) ‘CE' stands for ‘CONFIRMATIVE EUROPEENNE' and conformity to European standards meeting basic requirements of Safety, Health, Environment & Protection (SHEC). KEC is entitled to provide 'CE Marking' for AC motors , AC generators and DC machines. ‘CE' marking allows the product un-registered legal access to the European market.
KEMA Certification ‘KEMA' registered quality B.V.Netherlands, notified authority have tested our products with respect to low voltage directive, EMC(Electromagnetic) directive and MD(Machinery) directive.
NVLAP Certification We are proud of having established an independent laboratory duly certified by NVLAP - NIST , USA for testing of energy efficient 3 phase Induction motors up to 50 HP. Kirloskar Electric Test Laboratory (KETL) is first in India and among few in Asia to get NVLAP Accreditation.
We design and manufacture our products according to the standards of
ISO (International Organizational for Standardization)
IEC (International Electro technical Commission)
BIS (Bureau of Indian Standards)
BSI (British Standards Institution)
JEM (Japan Electrical Manufacturers Association)
Code Of Conduct
Commencement This Code of Conduct (the “Code”) shall be effective from 1st April, 2005 Applicability This Code shall be applicable to each member of the Board of Directors of Kirloskar Electric Company Limited and all other employees in the grade of General Managers and above and all Divisional Heads of the Company and such other employees of the Company as may be decided for the purpose of this code by the Chairman & Managing Director of the Company from time to time (hereinafter referred to as Senior Managers). Objective The objective of the Code is to ensure that all Directors and Senior Managers act within the bounds of the authority conferred upon them and with a duty to make and enact informed decisions and policies in the best interests of the Company and its shareholders/stakeholders.
Honesty & Integrity – All Directors and Senior Managers shall conduct their activities, on behalf of the company and on their personal behalf, with honesty, integrity and fairness. All Directors and Senior Managers shall act in good faith, responsibly, with due care, competence and diligence, without allowing their independent judgment to be subordinated, to their personal interests or matters against the interest of the Company. Directors shall act in the best interests of the Company and fulfill the fiduciary obligations.
Conflict Of Interest - Directors on the Board of the Company and Senior Managers shall not engage in any business, relationship or activity, which may be in conflict of interest of the Company. Without prejudice to the generality of above, the following actions can result is conflict of interests and hence should be avoided.
Directors and Senior Managers should not engage in any activity/employment that interferes with the performance or responsibility to the Company or is otherwise in conflict with or prejudicial to the Company.
Directors and Senior Managers and their immediate families should not invest in a customer, supplier or competitor of the Company and generally refrain from investments that compromise their responsibility to the Company.
Directors and Senior Managers should avoid conducting Company business with a relative or with a Firm/Company in which a relative/related party is associated in any significant role.
If such related party transaction is unavoidable, it must be fully disclosed to the Board or to the Managing Director, notwithstanding that the same may technically not be a disclosure required within the meaning of the Companies Act.
Other Directorships - Serving on the Board of Directors of other companies may raise substantial concerns about potential conflict of interest. And therefore, all Directors must report/disclose such relationships to the Board on an annual basis.
Concurrent Employment - In consideration of Directors/Senior Managers employment with the Company, he/she is expected to devote his/her full attention to the business interests of the Company. He/she is prohibited from engaging in any activity (unless disclosed to the Board or Managing Director and consent is obtained) that interferes with his/her performance or responsibilities to the Company or is otherwise in conflict with or prejudicial to the interest of the Company. Additionally, Senior Managers must disclose to the Company any interest that he/she may have that may conflict with the business of the Company. If he/she have any questions on this requirement, he/she would contact the Company. Senior Managers shall not, without the prior approval of the Managing Director of the Company, accept employment or a position of responsibility (such as a Consultant or a Director) with any other company.
Our Clients
WPIL
Ingersoll Rand
SAIL
TATA Steel
NINL
JK Cement Lt.
ACC
Ultratech
ESSAR
Indian Oil
Bharat Petroleum
Engineers India Ltd.
Mecon Limited
NMDC Limited
ONGC
TCE Consulting Engineers Limited
Our Network
Today as a lean, innovate and aggressive power in value engineering, Kirloskar Electric is well into its tryst with world markets with an offering that has strong roots in a traditional value base and comes with the inherent brand qualities of trustworthiness and complete customer satisfaction.
The ready acceptance of Kirloskar Electric products in USA, Europe, Canada, Hong Kong, Australia, China, Singapore, South Africa, Malaysia, Pakistan, Bangladesh along with the hard to earn certification by world's leading companies.
Streamlining, redefining and recreating of process, design and testing parameters to Six Sigma and other stringent quality measures.
Willingness to take up any challenging customization project and successfully implement it.
M J Group Supplier and manufacturer of electric motors such as electrical induction motor, induction motors for rolling mills, induction motors for automotive engines and induction motors for automobile industries.
Industrial Machinery Agency Export and distribution of electric motors, industrial electric motors, heavy duty electric motors, lister type diesel engines, electric motors, petter diesel engines, marine engines, monoblock pumpsets.
Keltronic, Nagpur Supplier of electrical products such as motor starters, mo contactor, household ac contactor, home ac contactor, motor self starters, power up soft starter, electrical motor soft starter, precision electronic motor starters in Nagpur, Maharashtra.
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