MODISON LIMITED Share price

Modison Limited was formerly incorporated as 'Modison Metals Limited' as a trading unit in 1965, by Mr. G.L. Modi as a trading enterprise focused on tool steels and the export of engineering and general merchandise. Later, the name of the Company was changed from Modison Metals Limited' to Modison Limited', pursuant to the fresh Certificate of Incorporation dated 22nd July, 2022. Modison is recognized as a leading manufacturer of electrical contact catering to low-medium-, and high-voltage switchgear industries . The Company serves a wide range of customers across power distribution, Power Transmission, electrical infrastructure industries, Automotive, Railway, Aerospace, Marine, Defence, Engineering, pharmaceuticals etc. with a growing presence in the overseas markets. The company's journey reflects a commitment to quality, innovation, and customer-centric growth over the decades. Founded in 1965, Modison Limited is a brand to reckon with in the manufacturing of electrical contacts for switchgear in India and globally. It has stood amongst a handful of companies around the world that manufactures electrical contact materials and finished contacts for all the areas of the switchgear industry including Low, Medium, High and Extra High Voltage. It also produces goods for dominant sectors such as automotive, engineering, aerospace, marine, defense, and railways. The Company works plants at two locations in Western India namely Vapi and Silvassa, employing more than 500 people. Modison has the advantage of developing a wide range of silver contacts for diverse industries. Its plant is amongst the largest single site for High Voltage electrical contact manufacturing globally, thereby enjoying a low-cost advantage. It operates in two business segments: Electrical Contacts and Silver Flatware. Presently, the Modison Group has plants at two locations in Western India, viz. Vapi and Silvassa. Recognizing opportunities in precious metals, the company ventured into silver refining in 1975, setting up its first manufacturing facility in Mumbai (then known as Bombay). Within a short span, MODISON emerged as a key exporter of refined silver to leading banks and dealers across Europe and the United States. In 1977, the company diversified into the manufacturing of electrical contacts &contact materials, introducing production lines for silver and silver alloy wires, plates, strips, and solid/bimetal contacts. This strategic expansion laid the foundation for MODISON's long-standing presence in the electrical contact manufacturing industry. Company soon realized that in order to serve the market needs, the company must have a sound technical and R&D back-up. Keeping this in mind the company signed up technical collaboration with DODUCO KG, Pforzheim, Germany, in 1983, the world's leading manufacturer of contact materials. From 1983 till 1996 Modison had technical collaboration with DODUCO. The excellent technical support from DODUCO helped Modison develop many hi-tech products, which were hitherto, imported by Indian Switchgear Industry. In 2009-10, the Company installed automatic contact welding and forming line; in 2011, it developed silver compound business; developed high performance current carrying contacts; in 2017-18, it acquired M/s. Modison Contacts Private Limited for expansion of business. In April 2019, the Company initiated the process of forming a Joint venture Company as a subsidiary Company of Modison Metals Limited to manufacture tungsten metal products. For expansion, it entered into a MOU for purchase of land at Vapi costing Rs 9.10 Crores.