### **Overview** Elpro International Limited, incorporated in 1962, is a diversified Indian conglomerate promoted by the Dabriwala family. Originally established as a technical and financial joint venture with General Electric (USA), the company began as a manufacturer of electrical equipment using GE’s proprietary technology. Over time, Elpro has evolved into a multi-business group with significant operations across electrical equipment manufacturing, real estate development, investment activities, commodity trading, and renewable energy. As of August 2025, Elpro operates as the holding company of a corporate group that includes key subsidiaries such as **Ultra Sigma Private Limited**, **Fortune Capital Holding Private Limited**, and **Elpro Realty Private Limited**. The group also has an associate company, **Dabri Properties & Trading Company Limited**, and a joint venture, **Eduspace Services LLP**, formed on March 19, 2025. --- ### **Business Segments (as of Aug 2025)** 1. **Electrical Equipment** - Core products include lightning arresters, varistors, surge protection devices, and discharge counters. - Elpro is recognized as the **number one manufacturer of Surge Arresters in Asia** and the **only company outside the U.S. authorized to use GE’s proprietary technology**. - It was the first in India to introduce both conventional and metal oxide gapless surge arresters. - The Pune-based manufacturing unit supports this segment, which maintains a dominant market share in India due to high quality and strong marketing. 2. **Real Estate Development** - Engaged in property development, land leasing, and commercial real estate operations. - In May 2024, Elpro, through its wholly-owned subsidiary **Faridabad Management Private Limited**, acquired **ICC Chambers I & II** in Andheri East, Mumbai, for ₹93 crore. The property includes ~5,066 sq. meters of built-up area on freehold land. - This acquisition enhances Elpro’s footprint in Mumbai, complementing earlier developments like **Elpro Vision Exchange**, **One Elpro Park**, and **Elpro City Square Mall** in Pune. - The company continues to strengthen its presence in high-demand urban real estate markets. 3. **Investment Activities** - Manages a diversified portfolio of long-term and short-term investments in securities and derivatives. - In June 2024, Elpro made a fresh acquisition of **35,253 equity shares** in **Bombay Stock Exchange Ltd (BSE)**, raising its total stake to **167,067 shares**. - In August 2023, it acquired **150,000 equity shares** in **Jio Financial Services Limited** for ₹3.10 crores, increasing its holding to **207,166 shares**. - These strategic investments align with the company’s focus on long-term capital appreciation. 4. **Commodities Trading** - Conducts trading activities in select commodities, contributing to revenue diversification. 5. **Power Generation (“Others” Segment)** - Owns and operates windmills in **Karnataka and Maharashtra**, contributing to wind power generation. - Aligns with India’s growing power demand driven by industrialization and urbanization. --- ### **Strategic Developments & Acquisitions** - **Dec 2024**: Announced plans to acquire **100% partnership interest in Eduspace Services LLP**, which owns a land parcel crucial to Elpro’s real estate strategy. The acquisition is being executed jointly with **Elpro Realty Private Limited**. - **May 2024**: ICC Chambers acquisition marked a major expansion in Mumbai’s commercial real estate space, supporting future growth opportunities. - **Sep 2023**: Successfully developed and operates **Elpro City Square Mall** in Pune—a fully functional shopping and entertainment destination. - **FY 2021–22**: Sold a significant stake in **PNB MetLife India Insurance Company** for ₹1,323.09 crores. Proceeds were used to: - Prepay all major outstanding borrowings. - Invest surplus capital in high-growth-potential companies to generate long-term returns. --- ### **Governance & Family Legacy** - Promoted by the **Dabriwala family**, the company has maintained strategic control while expanding through subsidiaries and investments. - Subsidiaries reflect a structured approach to managing distinct verticals: - **Elpro Realty** – real estate arm - **Fortune Capital** – investment management - **Faridabad Management** – property acquisition and management ---