India’s first & only IC Assembly & Test Company, SPEL Semiconductor Limited, has posted laudable results for FY 09-10, taking into account the present economic scenario. Announcing its audited results for FY 09-10, SPEL reported sales of Rs 87.16 Crores (7.6% growth in rupee terms compared to same period last year) with a PAT of Rs 6.10 Crores ( 2% less compared to the same period last year).

Current year’s Profit was lowered due to slow down during the first half of FY 2009-10. Cost saving measures introduced by Management during the year, Viz., lean manufacturing, investments in Energy saving Equipments, fetched positive results to SPEL in spite of the recessionary trend.

Chip market is in the process of revival and is in a far better position entering 2010 than it was a year ago. Latest reports confirm that the cell phone industry is proclaiming the end of recession. To fully make use of the upcoming positive trend SPEL has invested Rs.7.80 Crores, in CAPEX during the year for which Shareholders would reap the benefits in the coming years. There are plans to make further investment to the extent of Rs. 37.00 Crores during the current year. Management is exploring the possibilities of entering into European and APAC market to enhance the Customer base. European and APAC market to enhance the Customer base.

SPEL ICs are used globally in consumer electronic applications (such as Cell Phones, PDAs & Digital Cameras), Desktop PCs, Notebook Computers & Automobiles. SPEL is committed to firmly establishing itself as the Natural Destination for global Customers seeking cost effective Assembly & Test services.

Audited Financial Results for the year ended Mar 31, 2010