Danlaw Technologies India Ltd Company Summary

Danlaw Technologies India Ltd Summary

Danlaw Technologies India Limited (Formerly known as Grow-Tech Software Services Limited) was incorporated as a Public Limited Company in Dec.92. The Company is in the business of providing engineering and software development, consulting services, Industrial electronics. In view of the increasing demand for housing finance the company plans to increase its operation substantially. Accordingly, in Mar.96 the company came out with a public issue of 7,50,000 Equity share of Rs.10 each for cash at par aggregating Rs 75 lacs to strengthen and consolidated its capital base.During the year 1999-2000, the company commenced its operations as software company and started exports from December 1999. Due to the penetration of Information Technology becoming an engine of growth for all sectors of economy, the company is placing special emphasis on IT, e-commerce, internet and intranet applications to provide offshore software development for their global clientele. The compny is also concentrating its efforts in the Automotive Sector for Embedded Software Development, Products for Automotive applications, product and integration testing and software verification.During the year 2000-01, companys sales is up by 190% annualised over the previous year. The company has two divisions,engineering & information technology.The Engineering Division is concentrating on development of software services and products for the Automotive Sector through Embedded Software Development. The division had plans to enter into the markets like Internet Appliances,Communications,Aerospace and Defence Software right from the beginning.The Company has started its services in the area of DSP(Digital Signal Processing) during April 2001. Also in view of the experience gained by the company under WBT(Web Based Technology), the company is considering the expansion into the area of Animation and Multimedia.The other division Information Technology, is successful in providing offshore software development to their US cliental.The IT industry making giant strides, has taken the country on the world map. The domestic software market, though expected to grow @ 32% during the current year, its cumulative annual growth rate is steadily improving to 46.8% as on the previous year.Similarly, the Indian Software Export industry also showed an impressive growth rate of 66% over the previous year.During the year 2001, a right combination of a technological mix has resulted in better performance by the company.The company plans to fix a business model that combines both products and services together in the right mix.The company has been updating technology to keep abreast with the latest developments around the world and committed to technological advancement.The company has realized the vision of becoming a dominant player in Indian Software Market.During the year 2000-01,the company has enhanced and upgraded its networks and moved up the value chain by providing new services like PALM TOP, DOTNET, WAP etc.During the year 2001-02, Company opened new divisions of Animation and Multi Media, Research and Development in India and a wholly owned subsidiary in USA to support the Company in marketing products and services, resulting an increase in number of employees from 81 to 162 due to growth in engineering division. The Intelligent Security Solutions (ISS) division was made operational in December, 2002, which dealt with the trading of biometric technology based security equipments. The Company added product line such as J2534 New Pilot Version, GPS-DAAS - Tested /Validated and DAAS. ESAP (Case Management) and ESAPsp ESAP (Service Provider) were launched in 2004-05. In 2017-18, the Company acquired Titan Time Products Limited, Goa having the electronics assembly lines for a consideration of Rs.18.50 crores through share purchase agreement on 18th June, 2018. Thus Titan Time products Ltd became a 100% subsidiary and name was changed to Danlaw Electronics Assembly Limited.During the FY 2020-21, the amalgamation between the Company and its subsidiary, Danlaw Electronics Assembly Limited became effective 1st April 2022. In terms of the Scheme, the Company issued 11,63,177 shares to Danlaw Inc pursuant to the NCLT order dated 18th Oct, 2022 on amalgamation of subsidiary Danlaw Electronics Assembly Limited with Danlaw Technologies India Limited.