Goldstone eyes Rs 70 cr turnover

Hyderabad-based Goldstone Teleservices Limited is targeting close to Rs 70 crore turnover from silicon polymer insulators, developed by its in-house R&D division, this year.

The company is already in negotiations with Power Grid Corporation of India, and other private players for supply of silicon rubber insulators for 400 kv transmission lines from this year. It has been producing silicon polymer rubber insulators for 66 kv to 220 kv lines for the past couple of years.

Disclosing this here, M Surender Nath, executive vice-president, Goldstone Teleservices, said the company had the order book worth Rs 45 crore for the insulators.

An additional Rs 5 crore investment to enhance the production capacity of the existing plant will see a production value of Rs 100 crore from this year onwards.

The company had, so far, sold 15,000 units of different voltage capacities to various electricity boards besides the Indian Railways, he said. It has also received a Rs 3-crore contract from ABB for silicon rubber insulators required by the Delhi Metro Railways.

According to Nath, the company's R&D division, which has been recognised and part-funded by the Department of Scientific and Industrial Research (DSIR), Government of India, has developed the process of making the silicon composite used for the manufacture of insulators besides the design of insulators.

"This gives us the competitive edge when it comes to high cost of the compound currently been imported by other players," he said, adding that Goldstone had applied for the patent on the process of making silicon compound.

The company will also invest Rs 5 crore for manufacturing of liners for oil and gas pipelines, also developed by its R&D division. This is a Rs 600-crore market in India, according to Nath.

Goldstone reported a revenue of Rs 13.48 crore for the quarter ended March, 2007 while its insulator division registered a 101 per cent growth at Rs 24.78 crore for the year 2006-07.