1. Executive Summary2
2. Background of the Company5
3. Management Analysis7
4. Corporate Governance8
5. Industry Analysis8
Annexure: Group Profile15
Annexure: Profile of the Directors / Partners17
List of abbreviations used
APDRP: Advanced Power Development and Reforms Programme
APPCB: Andhra Pradesh Pollution Control Board
BSNL: Bharat Sanchar Nigam Ltd
DC: Direct Current
DCH: Digital Control Harness
DRDL: Defence Research and Development Laboratory
DRDO: Defence Research and Development Organization
ETP: Effluent Treatment Plant
HBL: HBL Power Systems Ltd
IPS: Integrated Power Supply
IRISET: Indian Railways Institute of Signal Engineering and Telecommunications MIDC: Maharastra Industrial Development Corporation
MoD: Ministry of Defence
NCPP: Nickel Cadmium Pocket Plated
NSTL: Naval Science and Technological Laboratory
PCB: Populated Control Boards
RDSO: Research Design and Standards Organization
ULSB: Unit Level Switch Board
UPS: Uninterrupted Power Supply
VRLA: Valve Regulated Lead Acid
1. Executive Summary
•HBL Power Systems Ltd. (HBL) was incorporated in the name of Hyderabad Batteries Private Limited in 1977 and is promoted by Dr A.J. Prasad. Two main business lines of HBL are batteries and electronics. •HBL is a leader in the field of specialized batteries and DC power systems in India. •The company is into manufacturing of various types of batteries viz. lead acid batteries, nickel cadmium, silver zinc and lithium batteries. The batteries manufactured by the company are primarily used in industry segments like aviation, defence, communication, railways, and across industries for power backup purposes. •The company is into the manufacture of various types of electronic devices viz railway electronics, defence electronics and other electronics. As the electronic segment has growth potential in future, the company is undertaking expansion activities in electonics segment. •HBL is a market leader in nickel cadmium pocket plate batteries (NCPP) with a market share 70%. •HBL is one of the recognized vendors with Ministry of Defence (MoD). The company is an accredited R&D center, registered with the Ministry of Science and Technology, Government of India.
•The company is promoted by Dr. A. J. Prasad. He is a graduate in Engineering from IIT Kharagpur and has a Masters degree in Management from the Massachusetts Institute of Technology, and a Doctorate from Columbia University in International Business. •He is supported by Mr. Ashok Nagarkatti, Director Battery technology, Paturi satish kumar (Executive director), Mr M S Srinath (Director) and Mrs Kavita Prasad (Director). •The company is board-managed and Dr. A.J. Prasad overseas the overall management of the company. General managers and vice presidents of different product groups and divisions having technical and marketing expertise in their respective areas handle day-to-day activities of the company. •Considering the experience of the promoters in the industry and qualified support team, the overall management of the company may be considered satisfactory.
•The board of the company is broad based and comprises seven directors, including four independent directors. •During FY10, the company has held six board meetings.
•The promoters have not defaulted on any dues in the past either in this company or in any of the group companies. •The company shares a good reputation with banks and has maintained a clean record with them. •The overall corporate governance of the company may be considered satisfactory.
(I) Battery segment
•Batteries are used across the world for a variety of applications where the traditional power supply system cannot be sustained/ supported. The domains that are encompassed in the battery system vary from telecommunications, aviation, rail coaches and signaling to oil...