Switching Technologies Gunther Ltd share Price

Switching Technologies Gunther (STGL) was incorporated in April 27, 1988 and has been promoted by M N Kannan. The Company is into the manufacturing and sale of Electronic components Reed Switches, Proximity Sensors, Ball Switches, etc. The reed switches is one of the unique kind of switches. The Company is the only company in India, other than one M/s. Reed Relays Electronics limited (RRE), based at Bangalore manufacturing reed switches. The Company manufactures and exports hi-tech reed switches which find wide applications in the aircraft industry, industrial control equipment, automobiles and power industry, at its unit in the Madras Export Processing Zone (MEPZ). The Company is a 100 per cent EoU and has a buy-back arrangement with its Promoter Company W Gunther, Nurenberg, Germany. Its collaborator, W Gunther, Germany, has a 61.22% stake in the Company. STG is one of the leading manufacturers and exporters of reed switches and relays in India. Its products are exported to the European markets and have received good responses from them. The company has a unit in the Madras Export Processing Zone (MEPZ), manufacturing reed switches used in the automobile, telecommunication, industrial control and aircraft industries. During 1996-97, it has commenced commercial production of new switch types like Miniature reed switches/Tilt switches/relays, which can also be used as surface mounted devices and can find application through out the automation and telecommunication industries. STGL has obtained UL/CSA recognition for its switches for the North American market. It is also awaiting ISO 9002 certification. During 1998-99, the company`s net profit was reduced to 11.28 lacs because of the exchange fluctuation loss of Rs 50.64 lacs. Necessary steps are being taken to ensure that such exchange fluctuation does not affect the company`s results in future. The company also has comprehensive restructuring plans in order to improve the efficiency of the plant.