Briefly tell us something about the beginning of Laxmi Remote (India) Private Limited (LRIPL). How has been the journey so far since the beginning and are you satisfied with the progress?
Laxmi Remote (India) Pvt. Ltd is a leading manufacturer of remote controls, set-top boxes, adapters, power supply, mobile chargers and AV cables. The company, formerly known as Remotec Industries, was rebranded in the year 2000 as Laxmi Remote India Pvt. Ltd. Our trading business came to a halt in 1998 and we debuted into the remote control manufacturing industry thereafter. We opened our first manufacturing plant in Bahadurgarh, Uttar Pradesh in the year 2001, and by 2003, we had established our in-house PCB designing and manufacturing unit along with a corporate office in Noida, Uttar Pradesh.
We have now completely resumed our operations and working with our full capacity. We are positive for rest of the year and expecting at least 10-15 percent hike over the last year revenue.
We established another manufacturing unit in Noida Phase II, in the year 2006, with a focus on manufacturing remote controls and set-top boxes for our business partners. After achieving tremendous success, we decided to further expand our portfolio by adding FTA set-top box and AV cables in our manufacturing capabilities to cater to end consumers as well as businesses. In 2018, we established our R&D centre at Hyderabad to drive innovation for setup box business and software division. Laxmi Remote has its own conditional access system (CAS) under the brand name of Pro CAS.
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