Polymatech

1Introduction: Polymatech Unlisted Share is an Indian company that was incorporated in 2007 as a subsidiary of Polymatech Company Ltd, Japan. However, in 2018, it was completely acquired by Mr. Eswara Rao Nandam and his wife, Mrs. Uma Nandam, Chennai-based entrepreneurs. Mr. Eswara Rao Nandam, an alumnus of BITS Pilani, is a key promoter in the company. PEL specializes in manufacturing LED semiconductor chips and has a production facility in the SIPCOT Hi-Tech SEZ in Oragadam Kancheepuram, Tamil Nadu. The company aims to become a world leader in the manufacturing of Elastometer parts.

2Previous Ownership and Acquisitions: Before the 2018 acquisition by Mr. Eswara Rao Nandam and his wife, Polymatech was controlled by Polyma Asset Management Company from Japan and Polymatech (Malaysia) with shareholdings of 52.20% and 47.80%, respectively. The company faced challenges in the past, as it was involved in manufacturing and supplying keypads for mobile phones, which became obsolete around 2011-12. Due to declining demand, the company incurred losses and struggled to sustain its operations.

3Post-Acquisition Transformation: After the acquisition in 2019, the new management shifted the company's focus to manufacturing semiconductor chips for LEDs and Luminaries. Polymatech currently produces Opto Semiconductors used in high-power lighting systems, ICs, and Sanitizing LEDs for hospital applications.

4Financial Performance: Since the acquisition, Polymatech unlisted share has witnessed significant growth in its financial performance. In FY20, the company generated approximately 2 Crores in revenue with a loss of 27 lakhs. However, in FY21, the revenue surged to 45 Crores with a profit after tax (PAT) of 7 Crores. The growth trend continued in FY22, with revenue reaching 126 Crores and a PAT of 34 Crores.