ICSA (India), which provides embedded technology solutions for the power sector, is proud to announce that Government of Singapore Investment Corporation Pvt. Limited along with its sub-accounts has increased its equity stake in the company through open market purchases to the tune of 159771 shares and their shareholding post acquisition of these shares stands at 33,31,930 shares representing 7.14% of Equity share capital of the Company.
Recently Goldman Sachs had acquired 17,50,000 equity shares in the company by exercising their right of conversion for warrants held by them.
ICSA has posted a PAT of Rs 48.03 Crores for the quarter ended September 30, 2008 as compared to Rs 28.88 Crores for the quarter ended September 30, 2007, an increase of 66.31%. Total Income has increased by 86.62% when compared with corresponding quarter of the previous year, to Rs 279.61 Crores from Rs 149.83 Crores last year.
“ICSA is really one of the most sought after companies in the Power sector, and the fact that the Government of Singapore has increased their stake in us, reinforces the point. A swelling order book position highlights the company’s capabilities in the transmission and distribution sector also.” said Mr. C. Bala Reddy, CMD, ICSA India Ltd.
About ICSA India Limited
ICSA(India) Ltd is in the business of construction of power transmission lines and substations. The company's product line includes: Intelligent Automatic Reading System, Multiplexer Unit, Distribution Transformer Monitoring System, Substation Controller, Micro Remote Terminal Unit, Theft Detection Devices, and Pole Top RTU.
The company has developed products suitable for power utilities in the field of Energy Management, Energy Audit, and Control applications and provides versatile Data Acquisition Systems using GSM, CDMA, and RF.
