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Spel Semiconductor Ltd

BSE Code : 517166 | NSE Symbol : SPICELEC | ISIN:INE252A01019| SECTOR : Electronics |

NSE BSE
 
SMC up arrow

3.75

0.00 0.00 Volume 2203

30-Sep-2002 EOD

Prev. Close

3.75

Open Price

3.80

Bid Price (QTY)

3.70(407)

Offer Price (QTY)

3.95(3)

 

Today’s High/Low 3.90 - 3.70

52 wk High/Low 3.90 - 0.00

Key Stats

MARKET CAP (RS CR) 222.76
P/E 74.31
BOOK VALUE (RS) 14.0371422
DIV (%) 0
MARKET LOT 1
EPS (TTM) 0.65
PRICE/BOOK 3.44087131923477
DIV YIELD.(%) 0
FACE VALUE (RS) 10
DELIVERABLES (%)
4

News & Announcements

06-Jan-2023

Spel Semiconductor Ltd - Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018

23-Dec-2022

Spel Semiconductor Ltd - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate

09-Dec-2022

Spel Semiconductor to conduct AGM

08-Dec-2022

Spel Semiconductor Ltd - INTIMATION OF BOOK CLOSURE

09-Dec-2022

Spel Semiconductor to conduct AGM

03-Nov-2022

Spel Semiconductor to hold board meeting

06-Aug-2022

Spel Semiconductor to table results

19-May-2022

Spel Semiconductor announces board meeting date

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

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Share Holding

Category No. of shares Percentage
Total Foreign 375360 0.81
Total Institutions 17700 0.04
Total Govt Holding 1400 0.00
Total Non Promoter Corporate Holding 478798 1.04
Total Promoters 27288780 59.17
Total Public & others 17955405 38.93
Total 46117443 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Spel Semiconductor Ltd

Spel Semiconductor Ltd (SSL) (earlier known as Spic Electronics and Systems Ltd) was incorporated as a private limited company in Dec.'84 and thereafter converted into a public limited company in Mar.'86. It was promoted by Southern Petrochemical Industries (SPIC). SSL went public in Aug.'88 to part-finance the cost of setting up a sophisticated electronic project for manufacture of computer tapes, diskettes, jumbo rolls and integrated circuits. The company entered into a technical collaboration with Computer Resources, US, for a magnetic media project to produce computer tapes and floppy discs. The company received the ISO 9002 certificate for integrated circuit packing operations. On 1st Nov'95, the company was converted into 100% EOU under Electronics Hardware Technology Park scheme. Through this, it can concentrate more on exporting its products to the world. The company is planning to add 56 pin and 80 pin ICs in the coming years. With the increased capacity and additional types, the company is in a position to face the demand of ICs types. During 2000-01 under review, the company has secured the renewal of Licence to operate as 100% Export Oriented Unit (EOU) under the Electronic Hardware Technology Park (EHTP) Scheme for a period upto December' 2004. M/s Pericom Semi Conductor, USA has qualified the company for 40, 48 and 80 pin devices. A new 8 pin single in-line IC Pakcage was developed and supplied to a new Customer.

Spel Semiconductor Ltd Chairman Speech

Spel Semiconductor Ltd Company History

Spel Semiconductor Ltd (SSL) (earlier known as Spic Electronics and Systems Ltd) was incorporated as a private limited company in Dec.'84 and thereafter converted into a public limited company in Mar.'86. It was promoted by Southern Petrochemical Industries (SPIC). SSL went public in Aug.'88 to part-finance the cost of setting up a sophisticated electronic project for manufacture of computer tapes, diskettes, jumbo rolls and integrated circuits. The company entered into a technical collaboration with Computer Resources, US, for a magnetic media project to produce computer tapes and floppy discs. The company received the ISO 9002 certificate for integrated circuit packing operations. On 1st Nov'95, the company was converted into 100% EOU under Electronics Hardware Technology Park scheme. Through this, it can concentrate more on exporting its products to the world. The company is planning to add 56 pin and 80 pin ICs in the coming years. With the increased capacity and additional types, the company is in a position to face the demand of ICs types. During 2000-01 under review, the company has secured the renewal of Licence to operate as 100% Export Oriented Unit (EOU) under the Electronic Hardware Technology Park (EHTP) Scheme for a period upto December' 2004. M/s Pericom Semi Conductor, USA has qualified the company for 40, 48 and 80 pin devices. A new 8 pin single in-line IC Pakcage was developed and supplied to a new Customer.

Spel Semiconductor Ltd Directors Reports

Your Directors present the 36th Annual Report of the Company together with the Audited Accounts for the year ended Mar 31, 2021. Financial Highlights / Performance/ the Operating results of your Company as per IndAS Financial Statements for the year ended Mar 31, 2021 are given below:

1. Financial Highlights/Performance

Particulars Year ended Mar 31, 2021 Year ended Mar 31, 2020
Sales 1,592.11 3,653.74
Other Income 545.23 179.65
PBIDT (17.36) 778.22
Finance Cost 116.45 142.61
Depreciation 430.44 498.24
Profit / (Loss) before Before Exceptional items (564.25) 137.37
Exceptional items 280.08 2.72
Profit / (Loss) before Tax (844.33) 134.65
Tax Expense 19.17 29.29
Profit / (Loss) after Taxation (863.50) 105.36

Company's performance

During the year under review the overall performance of your Company has shown negative growth rate due to lock down imposed for sevetral months as a result of impact of Covid-19. The turnover of the company has come down by 56.43% as compared to the previous year. Sincere efforts taken by the marketing team together with the sustained marketing strategy evolved by the company yielded sufficient growth with better prospects in the years to come.Your Company had maintained good relationship with all its Customers in US & Europe and has seen good improvement in capturing business from one of the big Customers in the US. It is expected to improve production orders in FY 2021-22. The outlook for FY 2021-22 is good and SPEL has plans to induct new Customers from Europe & US regions.

2. Dividend

Due to insufficiency of profits during the year under review, dividend could not be paid during the year.

The Global Semiconductor Industry:

The Semiconductor Industry Association (SIA) today announced global semiconductor industry sales were $40.0 billion for the month of January 2021, an increase of 13.2% over the January 2020 total of $35.3 billion and 1.0% more than the December 2020 total of $39.6 billion. Monthly sales are compiled by the World Semiconductor Trade Statistics (WSTS) organization and represent a three-month moving average. SIA represents 98% of the U.S. semiconductor industry by revenue and nearly two-thirds of non-U.S. chip firms. Global semiconductor sales got off to a strong start in 2021, increasing both year-to-year and month-to-month in January . Global semiconductor production is on the rise to meet increasing demand and ease the ongoing chip shortage affecting the auto sector and others, and annual sales are projected to increase in 2021.

Regionally, year-to-year sales increased across all markets: Asia Pacific/All Other (16.0%), the Americas (15.4%), China (12.4%), Japan (9.6%), and Europe (6.4%). Month-to-month sales increased in China (3.4%), Europe (2.0% percent), and Asia Pacific/All Other (1.5%), but were down in Japan (-1.0%) and the Americas (-3.0%).

A. Market Drivers

Despite the global pandemic and resulting economic downturn, the global semiconductor industry remained resilient with revenue growth of 6.5% to reach the $440bn mark in 2020.As per the 2021 Global Semiconductor Industry Outlook, the logic and memory chips segments were among the fastest growing with over 10% growth reported from each of these sub-categories in 2020.

A significant growth area for semiconductors over the coming decade is likely to be the Internet of Things (IoT), whereby devices are embedded with sensors and software and connect to each other over the internet.

The potential applications are enormous. Smart factories are a key example, enabling a shop floor to be monitored remotely. Everything from a machine's energy usage to its downtime can be monitored, as can warehouses and inventories, helping to improve efficiency, free up capacity and reduce costs.

Another example is connected homes, allowing lighting and appliances to be controlled from a phone or tablet. IoT devices could also be used to improve security, enabling remote monitoring of any open windows, leaks or smoke. According to Statista, the number of IoT connected devices is forecast to rise from 7.74 billion in 2020 to 25.44 billion in 2030

B. Semiconductor Mergers:

Five big acquisition announcements and more than a dozen smaller deals in 2020 pushed the total value of M&A agreements in the year to an all-time high of $118.0 billion, surpassing the previous record of $107.7 billion reached in 2015 The five biggest 2020 M&A agreements announced in July, September, and October had a combined value of $94.0 billion, which represented about 80% of the total for the entire year.

The 2H20 wave of huge acquisition agreements began in July when Analog Devices announced it would buy Maxim Integrated Products for $21 billion in stock. Analog Devices expects the purchase to be completed by the summer of 2021 and believes the acquisition will boost its market share in analog and mixed-signal ICs for automotive systems (especially in autonomous vehicles), power management, and application-specific IC designs. Before the Maxim purchase was announced, semiconductor acquisition agreements in the first six months of 2020 had a combined value of just $2.1 billion. The M&A total was only $352 million in 2Q20, when the initial surge of Covid-19 virus crisis was sinking the entire global economy.

After a handful of other smaller acquisition agreements in July and August of 2020, graphics processor leader Nvidia blew the M&A lid off the coronavirus-plagued year when it announced a $40 billion megadeal in September to buy processor-design technology supplier ARM in the U.K. from holding company SoftBank in Japan. For more than a decade, ARM has licensed nearly all of the central processor technology used in smartphones, and it is expanding its into many other applications just like Nvidia including data center systems, automotive automation, robotics, and acceleration of machine learning and artificial intelligence (AI). The prospects of Nvidia owning ARM, its design cores, instruction sets, and microarchitectures has raised concerns among major SoC processor developing companies, which license the technology including Qualcomm, Samsung, MediaTek, and Apple. To quell concerns, Nvidia immediately promised to maintain

ARM's independence in terms of licensing its intellectual property (IP) to other IC suppliers and systems makers. The acquisition is expected to be completed by March 2022, but must win clearance from regulatory agencies in the U.S., U.K., European Union, South Korea, Japan, and China.

Four weeks after Nvidia announced the largest semiconductor acquisition in history, more large M&A agreements were announced in October 2020. It started with Intel announcing the sale of its NAND flash memory business and 300mm wafer fab in China to SK Hynix in South Korea for $9 billion. In the last week of October 2020, Advanced Micro Device announced an agreement to buy programmable logic leader Xilinx for about $35 billion in stock. This deal is scheduled to be completed by the end of this year. Also at the end of October, Marvell Technology announced it would acquire high-speed interconnect and mixed-signal IC supplier Inphi in Silicon Valley for $10 billion in stock and cash. The acquisition is expected to close in the second half of 2021.

It is important to note that IC Insights' M&A list covers purchase agreements for semiconductor companies, business units, product lines, chip intellectual property (IP), and wafer fabs, but it excludes acquisitions of software and system-level businesses by IC companies. For instance, the M&A list excludes Intel's $900 million acquisition of mobile-application software supplier Moovit in Israel in May 2020. Moovit's urban mobility software apps will be used by Intel to increase its capability to automate ground travel and planning with Internet connections, but the Israeli startup is not a semiconductor company. IC Insights' acquisition list also excludes transactions between semiconductor capital equipment suppliers, material producers, chip packaging and testing companies, and design-automation software firms.

As in recent years, semiconductor acquisitions in 2020 were driven by large IC companies looking to sharpen their positions in emerging and high-growth market opportunities, such as embedded machine-learning and AI capabilities, self-driving cars, all-electric vehicles, expansion of data centers for cloud-computing services and proliferation of the sensors and systems connected to Internet of Things. Industry consolidation also continued to play a key role in many of the 2020 acquisition agreements.

The top-five acquisition agreements in 2020 were among the largest of the 51 semiconductor M&A deals made over the past 21 years that were valued at $1.0 billion or more. Three of the 2020 agreements rank in the top five with No. 1 being Nvidia's $40 billion bid for ARM, No. 3 being AMD's planned $35 billion purchase of Xilinx, and No. 5 being Analog Devices' move to buy Maxim for $21 billion. More than half of the top 51 semiconductor industry acquisition agreements 32 of them have occurred in the past six years (2015-2020).

C. Outsourced Assembly and Test (OSAT) Industry

A global semiconductor shortage and increased demand for microchips are likely to boost the cash flows from operations for foundries and outsource assembly and testing (OSAT) companies in 2021 as per the Fitch Ratings. Foundries like TSMC and Samsung are likely to be the key beneficiaries of the robust 2021 chip demand as they will enjoy strong pricing power. TSMC with its market share of over 50% in the foundry industry is likely to see revenue growth of 10-15% in 2020-25. Additionally, the revenue growth for the OSAT companies is likely to see substantial growth in 2021 as higher chip demand will boost the need for assembly and testing services .The chip shortage could also lead to a cyclical uptrend for larger IDMs and fabless companies like Intel (INTC), Texas Instrument (TXN), Nvidia (NVDA), Advanced Micro Devices (AMD).

D. The Indian Semiconductor Industry

The Indian semiconductor industry offers high growth potential areas as the industries which source semiconductors as inputs are themselves witnessing high demand. The end-use industries such as mobile devices, telecommunication equipment, information technology, office automation (IT & OA), industrial machinery, automobiles and several other industries have applications for computing in some form or other and thereby necessarily have growing demand for semiconductors. Now with the concept of Internet of Things (IoT) picking up momentum, the next generation of interconnected devices would further increase the demand for intelligent computing, thereby creating sustainable demand for semiconductors.

India has a very fast growing electronics system design manufacturing (ESDM) industry. India also has a strong design base with more than 120 units. According to the Ministry of Electronics and Information Technology (MeitY), nearly 2,000 chips are being designed every year in India and more than 20,000 engineers are working on various aspects of chip design and verification. The government has a strong focus in developing the ESDM ecosystem in India. Several subsidies and other incentives are on offer for setting up electronics manufacturing units in India.

3. Human Resources Development

Your Company has enthroned the attributes listed below as its core values. The Management will assiduously practice and enthuse its Employees to imbibe these virtues. Towards this end training is imparted every month, every Employee goes throughout the drill at least once in six months :

Business Ethics : defines us as a Company

Professionalism : defines us as Individuals

Citizenship : defines our contribution to Society

SPEL's medium for Corporate Social Responsibility (CSR) is through Socio-Economic Contribution (S-E-C) and SPEL Employees Social Service Organization (SESSO). For most people, the idea of Social Service is donating money to a social organization - perhaps an old-age home or an orphanage or similar. This however is the easy part. The difficult part is volunteering one's time to improve society.

When can we make a contribution to Society?

During Phase 1 of our lifetime, perhaps up to the age of 35, we are so focused on building our careers, starting our families & establishing a name for ourselves

During Phase 2 perhaps from age of 35 thru 65, we are the most active in our work, working as a team, being able to significantly contribute to Economic Development

During Phase 3 perhaps from age 65 onwards, we are most able to contribute our time on an increased basis to social causes S-E-C at SPEL is all about how we can contribute socially during Phase 2 itself while also handling Economic Development. Towards this, there are 3 areas that each of us can assist by making these a part of our day to day approach:

1. Following discipline in any and everything we do

2. Providing a helping hand to people around us in any way we possibly can

3. Showing the right path forward to people around us

S-E-C in SPEL is primarily done by One-to-One Mentoring as each person encourages & motivates the other, towards a more purposeful & effective lifestyle.

As part of the core values, following activities were undertaken through SESSO : i) Educational assistance to the needy people in and around Factory. ii) Voluntary Blood Donation camp. iii) Assistance to orphanage and old age home located near Factory.

4. Material changes affecting the financial position of the Company which have occurred between the end of Financial Year and the date of the report. Nil

5. Details of significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and Company's operations in future Nil

6. Adequacy of internal financial controls

The Company's internal financial controls systems are commensurate with the nature of business and the size and complexity of its operations. These are routinely tested by the Internal Auditors and cover all key business areas.

7. Subsidiary/Joint Ventures/Associate Companies

Your Company had incorporated a Wholly Owned Subsidiary Company during FY 2017-18, in the name and style of SPEL Semiconductor Packaging Limited. This Company is yet to commence production. It is envisaged to commence production after getting due statutory approvals from the authorities.

8. Deposits

The Company has not accepted any deposits from public and as such, no amount on account of principal or interest on deposits from public was outstanding as on the date of the Balance Sheet.

9. Statutory Auditors

Mr.K.Nadhiswaran, CharteredAccountant, has expressed his consent for the re-appointment as Statutory Auditor for the Financial Year 2021-22 and has confirmed that the appointment, if made, will be in accordance with the limits specified under Section 139 of the Companies Act2013.

10. Share Capital

There has been no change in the share capital of the Company during the year.

11. Extract of the Annual Return

Pursuant to the provisions of Section 92 (3) and 134 (3) (a) of the Companies Act, 2013, extract of the Annual Return (Form MGT-9) for the year ended March 31, 2021 will be placed on the website of the Company at http://www.natronix.net/forms.html.

12. Conservation of energy, technology absorption and foreign exchange earnings and outgo:

The details of conservation of energy, technology absorption, foreign exchange earnings and out go are as follows:

Conservation of Energy

The Company has in place an Energy Committee which meets once a month. This Committee consists of Cross-functional Executives. It assesses the potential areas, develops means to save energy and implements the plan with the approval of the Management.

Measures were taken during the year to conserve water and electricity resorting to reuse of Dicing process water, rain water harvesting, power factor improvement and investment on air cooled chillers and air compressors.

Savings in Electricity

52,246 Units

Savings in consumption Water 3,510 KL

Technology Absorption

The particulars regarding Technology Absorption are not applicable to your Company.

Foreign Exchange Earnings and Outgo

Your Company is a 100% Export Oriented unit and is constantly striving to increase its exports. Foreign Exchange used during the year:$3.00 Lakhs Foreign Exchange earned during the year :$5.32 Lakhs

13. Research & Development

The Company has carved out an ambitious plan of investment in R&D. This will include investment in Package Intellectual Property, thereby assisting Company's revenue and profitability in the future years.

14. Directors and Key Managerial Personnel

Mr.K.Ravikumar, is retiring by rotation, being eligible, offers himself for re-appointment.

15. Number of meetings of the Board

Four Meetings of the Board were held during the year. For details of the meetings of the board, please refer to the Corporate Governance Report, which forms part of this report.

16. Audit Committee

The details pertaining to composition of Audit Committee are included in the Corporate Governance Report, which forms part of this report

17. Vigil mechanism for Directors and Employees

The Company has a Vigil Mechanism by way of Whistle Blower Policy to provide a Vigil Mechanism for Employees and Directors to report genuine concerns. The provisions of this policy are in line with Section 177 (9) of the Act. A copy of the policy is uploaded in the website of the Company.

18. Nomination and Remuneration Committee

The details pertaining to Nomination and Remuneration Committee are included in the Corporate Governance Report, which forms part of this report

19. Loans, guarantees or investments

Particulars of loans, guarantees and investments have been disclosed in the financial statements.

20. Contracts or arrangements with Related Parties

The particulars of every contract or arrangements entered into by the Company with related parties referred to in sub-section (1) of section 188 of the Companies Act, 2013 including certain arm's length transactions under third proviso thereto have been disclosed in Form No. AOC -2.

21. Managerial Remuneration

Managerial Remuneration is given in annexure which forms part of this report.

22. Secretarial Audit Report

Secretarial Audit Report is given as annexure, which forms part of this report.

23. Formal Annual Evaluation of Board on its own performance, Committees of the Board and the individual directors

The Board of Directors has carried out an annual evaluation of its own performance, Committees of the Board and the individual directors pursuant to the provisions of the Act and Corporate Governance as prescribed under Regulation 17 (10) of SEBI (LODR) Regulation 2015. In a separate meeting of the independent directors, performance of the Non-Independent Director and performance of the Board as a whole was evaluated.

24. Familiarization Programme for Independent Directors

The Company has prepared and presented a power point presentation for Independent Directors in order to enable them to familiarize with the Company's policies and practices.

25. Risk management

A Risk Management Committee to identify and monitor the risks has been formed with a responsibility to review the risks and evolve mitigation plan required.Periodical action is taken to address the major risks identified.

26. Corporate Governance Certificate

The Corporate Governance Certificate from the Auditors regarding compliance of conditions of Corporate Governance as stipulated in Regulation 23(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is annexed with this report.

27. Directors' Responsibility Statement

Pursuant to Section 134(5) of the Companies Act, 2013, the Board of Directors, to the best of their knowledge and ability confirm that:

(a) in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures

(b) they have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the loss of the Company for that period;

(c) they have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(d) they have prepared the annual accounts on a going concern basis;

(e) they have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and operating effectively and

(f) they have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

(g) Based on the framework of internal financial controls and compliance systems established and maintained by the Company, work performed by the internal, statutory and secretarial auditors and external consultants and the reviews performed by the management and the relevant board committees, including the audit committee, the Board is of the opinion that the Company's internal financial controls were adequate and effective during the Financial Year 2020-21.

Acknowledgements

Your Directors place on record their gratitude especially to the Promoters, who had assisted significantly towards the recovery bath. Directors also placed on record their gratitude to the Government of India, the Government of Tamil Nadu, Financial Institutions, Bankers, Insurance Companies, Customs& Excise authorities, valued overseas Customers & Vendors and the Promoters for the continued assistance and support extended to the Company.

Yours Directors wish to place on record, their appreciation of the efficient and loyal services rendered by the supportive Employees at all levels of the Company. Yours Directors wish to thank the Shareholders who constitute the mainstay of the Company for their unstinted support, forbearance confidence reposed on the Management.

By order of the Board
for SPEL Semiconductor Limited
N. Suryanarayanan D. Balakrishnan S. Chandramohan
Director Whole Time Director &CEO Director
DIN 02282919 DIN: 02131242 DIN 00052571

23rdAugust 2021

Chennai

   

Spel Semiconductor Ltd Company Background

Incorporation Year1984
Registered Office5 CMDA Industrial Estate,Maraimalai Nagar
Chennai,Tamil Nadu-603209
Telephone91-044-47405300,Managing Director
Fax91-044-47405303
Company SecretaryS Sivaraman
AuditorK Nandhiswaran
Face Value10
Market Lot1
ListingBSE,
RegistrarCameo Corporate Services Ltd
Subramanian Building,V Floor,1 Club House Road,Chennai - 600 002

Spel Semiconductor Ltd Company Management

Director NameDirector DesignationYear
K RavikumarIndependent Director2021
D BalakrishnanWhole Time Director2021
Enakshi BhattacharyaIndependent Director2021
N. SuryanarayananIndependent Director2021
S ChandramohanAddtnl Independent Director2021
S SivaramanCompany Secretary2021
M JayasankarAdditional Director2021

Spel Semiconductor Ltd Listing Information

Spel Semiconductor Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Sale of products NA 00026.0162
Other Services/ Softex NA 0000.295
Other Operating Revenue NA 0000.0262
Adjustments NA 0000
Testing / Softes NA 0000
Integrated Circuits No 0000

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