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History of Armaan Electric Ltd.

Armaan Electric Limited [AELs] was promoted as an associate sector project by Mr. A.M. Ebrahim & Associates and Electronics Corporation of Tamil Nadu Limited [ELCOTs] for the manufacture of mechanical contact key switches and computer key boards. The certificate of incorporation was issued on 28.07.1989. The Company plant is situated at SIPCOT Industrial Complex, Gummidipoondi, Chenglepet District, Tamil Nadu. The plant was set Lip with technical collaboration of Alps Electric Limtied, Japan. The Company obtained certificate of commencement of production dated 08.08.1990. The Comp. commenced trial prnduction in January 1991 & commercial production in April 1991. The initial projcct cost was Rs.335 lacs & Means of Finance was by way of Term Loans Rs. 200 lacs, Equity of Rs. 100 lacs & SIPCOT State Subsidy Rs.35 lacs.

The Comp. commenced with prnduction of key switches only. But, due to slump in the market for key switches due to various factors like availability of lesser life cheaper switches & duplicate switches, the Comp. decided to concentrate more on key boards. Hence, the Comp. started manufacture of key boards from August 1991 itself. One more factor for switch over was due to other key board manufacturers felt competition in their market will increase since Armaan has own switch manufacturing facility. The Comp. established good market share of Original Equipment Manufactures [OEMs] segment in key boards and immediately captured orders from all OEM including Wipro, Sterling, Aurolec etc. not to be let down on the key switch side. The Comp. looked into the opportunity of export of key switches & secured orders from Taiwan for switches. The Comp. has so far exported 5 million switches. Also, the Comp. has developed a new model switch with lesser life which is price competitive both for domestic & international market.

During middle of 1994, the Comp. received orders from WIPRO for manufacture of monitors. The Comp. entered into the manufacture of monitors with initial funding from Wipro & has already manufactured 1000 numbers.

The Capacity utilisation has been low during the initial period for key switches due to reasons already mentioned. In respect of key board, the capacity is not strictly restricted to 50000 npa since it is only an assembly operation & the only capacity determinant being wave soldering section which can be sub-contracted.