Numeric Power Systems Ltd had decided to sell its UPS business with its brand, trademark and entire IP rights to an Indian subsidiary of Legrand of France, whose electrical products are already available in the country, for about Rs 837 crore.
However, NPSL, a dominant player in the Indian UPS market, will retain the other activities like green energy – solar and wind power, iron and alloy foundry production, LED lighting, etc., in India. The company will also sell its Singapore subsidiary to a Legrand affiliate.
For Numeric Power, UPS has been the core business, contributing over 90 per cent of the company’s Rs 450-crore turnover.
According to reports, while not wishing to give out details, the company’s Managing Director, Mr R Chellappan, said that the company is looking at presence in two areas – EPC jobs and storage systems (batteries).
“We know the solar business,” he said, pointing out that apart from building two 1 MW plants, Numeric has done close to 1,000 rooftop solar plants across the country.
For one of the 1 MW plants, Numeric is its own EPC contractor. The plant, near Coimbatore, would be put under the “REC scheme”. The other plant, near Sivaganga, is just a few days from commissioning. The electricity it generates will fetch Rs 18.45 a unit.
Mr Chellappan said that the company has capacity to take 25 MW worth of EPC jobs.
As a company that has dabbled in batteries for long, Numeric now wants to produce battery packs for storing solar power. He said that a rooftop system would cost around Rs 200 a watt, all costs included.