SPEL Semiconductor Limited based in Chennai is India’s first & only Semiconductor Integrated Circuit (IC) Assembly & Test facility. SPEL ICs are used globally in consumer electronic applications such as Cell Phones, PDAs, Desktop PCs, Notebook Computers, Automobiles, and Digital Cameras.

The 1st quarter of FY 2007-08 saw revenues of Rs.149.30M, up by 21% compared to the corresponding quarter revenues of Rs.123.08M during the previous year. The net profit of Rs.6.05 million for the first quarter is down by 11.93% from Rs.6.87 million during the same period last year, due to the appreciation of the Rupee.

SPEL’s Customer base has increased during the quarter under review. Some of the Customers have also participated in the Capex requirements of the Company. This will not only give the Company firm longer-term order commitments, but will also significantly improve the cash flow.

The increase in order booking trend is expected to continue in the remaining quarters of the FY 2007-08, as the Semiconductor industry is set to ride on the PCs, Mobiles & other consumer products boom.

During the quarter under review SPEL obtained formal approval for establishing its Special Economic Zone within the Company’s own land. This will enable SPEL to grow the eco-system in the region, which will in turn lead to intrinsic benefits to SPEL.