Salzer Electronics advanced 2.13% to Rs 196.50 after the company announced the receipt of a patent for its integral cam operated rotary switches.
The company has received the patent for this invention from the Patent Office, Government of India, for a duration of 20 years, ending 2031.
Salzer said that the integral cam operated rotary is one of the legacy products providing substantial revenue contribution. This patent protects distinguished features and brand equity of the product in the market.
Rajesh Doraiswamy, joint managing director, Salzer Electronics, said: "I am happy to announce that we have received the much-awaited patent for our integrated cam operated rotary switches. This development reflects our focus on innovation and technology and sets the tone for future product development."
Salzer manufactures cam-operated rotary switches, toroidal transformers, cable ducts, isolators, modular switches, relays and automotive products. The company has a longstanding relationship with L&T.
The company reported 28.8% rise in consolidated net profit to Rs 8.36 crore on a 23.3% rise in net sales to Rs 218.82 crore in Q3 FY22 over Q3 FY21.
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