Dhanashree Electronics Ltd is fundamentally a lighting manufacturer that has spent nearly four decades moving from traditional bulbs to LED technology, building a vertically integrated factory in Kolkata that makes everything under one roof. Founded in 1987 and selling under a brand called “Rashmi” - a name that has been in Indian homes for 75 years - the company now designs and produces its own range of LED luminaires while also making electronic components for other companies as an OEM (original equipment manufacturer). The recurring approach is simple: own the manufacturing process end-to-end, invest in in-house R&D for new products, and sell through both government project contracts and a dealer network that reaches retail shelves and online platforms. # Business segments A single manufacturing engine powers two go-to-market routes - branded LED lighting sold to governments, businesses and consumers under its own “Rashmi” label, and an OEM service that makes electronics for other companies - both fed by the same factory floor and R&D centre. ## 1. Branded LED lighting: the company’s own label, from factory to finished fixture **Every light sold under the “Rashmi” brand is designed, engineered and assembled in-house - the company does not outsource its core manufacturing, which lets it control the product from raw material to the final luminaire.** - **Full vertical integration** - the company handles design, moulding, assembly and testing at its Salt Lake Electronic Complex factory in Kolkata, so it does not depend on third-party manufacturers for finished goods. - **A catalogue built for Indian infrastructure** - the product range spans everyday indoor fittings like LED downlighters, battens, panels and lamps, as well as outdoor and project-grade luminaires: street lights, flood lights, façade lighting and decorative fixtures for monuments and public spaces. - **Solar is the newest addition** - recognising demand from rural electrification and off-grid applications, the company now makes solar street lights, solar panels, solar fans and rooftop domestic lighting kits, extending its reach beyond grid-connected buyers. - **Government projects are a major demand driver** - the company supplies state governments through bulk procurement and wins project-based orders for smart cities, metro stations (including DMRC), railway stations, flyovers, bridges, temples and tourist spots, which gives it visibility in public infrastructure spending. - **Sold where buyers already shop** - distribution runs through a dealer and distributor network supported by channel financing, and the products are also listed on Amazon and Flipkart, so the brand reaches both trade buyers and retail consumers directly. ## 2. OEM electronics manufacturing: making components for other companies’ products **The same factory and R&D setup that produces Rashmi-branded lights also serves as a contract manufacturer for other electronics companies - a B2B engine that monetises spare production capacity and technical know-how.** - **A regional specialist** - the company describes itself as “one of best and well known OEM Company in electronics segment in eastern India,” positioning its contract manufacturing service as a recognised capability in its home geography. - **Client-spec production** - the OEM division builds electronic components and lighting products to the exact specifications of its business customers, which means it earns revenue by selling manufacturing capacity and expertise rather than its own branded goods. - **Shared infrastructure keeps costs down** - because the OEM work runs on the same vertically integrated production line that makes Rashmi products, the company avoids duplicating plant, machinery and R&D spend across two separate operations. # Group structure and partners **The company is a standalone entity with no subsidiaries, tightly held by its promoter group and financially intertwined with a network of related firms that supply its raw materials and lend it working capital.** - **A single-entity structure** - Dhanashree Electronics has no subsidiaries, associates or joint ventures, so all operations, assets and liabilities sit within one listed company. - **Raw materials come from related parties** - the company sources electrical components from Ladhuram Toshniwal & Sons Electricals, Frontline Holdings, Sukhvarsa Constructions, Sorin Tech and Lighting Industries - relationships that have been in place for more than twenty years, creating a stable but concentrated supply chain. - **Funding flows within the group** - the company has taken unsecured loans from Frontline Holdings and Lighting Industries at 11% interest to finance day-to-day operations, and has also given a corporate guarantee backed by its leasehold premises situated at Sector V, Salt Lake Kolkata 700 091 to secure a bank loan for a sister concern.