NELCO Ltd Results Summary

The National Radio Electronics Company NELCO was promoted in 1940 by the Investment Corporation of India inter alia to manufacture broadcasting equipment. Its present activities are the manufacture trade and sale of consumer electronic products sale of business systems and office products.NELCO has technical collaboration/technical transfer agreements with Serck Control UK for 16 RIT industrial micro computers and with Teleglobe Canada for data communication networks. It introduced telebanking in the nationalised banks and computerised more than 65 branches of 28 banks all over India. It also introduced Indias first LAN interconnectivity products. The company has diversified its activities in the electronic field and manufactures televisions computer and telecommunication systems as well as industrial systems and plans to set up a new factory to manufacture and sell telecommunication systems. NELCO transferred its business systems division to a new subsidiary Nelito Systems formed in association with Itochu Corporation Japan. NELCO has been selected by Chittararanjan Locomotive Works for power control and auxillary equipment of 6000 HP AC locomotives. This project was executed successfully in 2001 and were approved by RDSO.NELCO and General Electric GE of USA have signed a cooperation agreement which will enable GE and NELCO to play complementary role in providing stateoftheart drive and automation systems for the metal industries in India. The construction of Technopolis Knowledge Park TKP at Andheri was completed by the company with the assistance of Tata Housing Development Company.The company has exexcuted orders for defence requirement in 200102 and the company has orders worth Rs.12.80 crores for supply of Global Positioning Receivers for Army and Airforcefor execution in 200203.