The Electrical Power Connectors (New and Retrofit/ Replacement) have an estimated market potential of around INR 3000 Crores (~400 million USD). With mass deployment of Right Connectors, approximate savings (on account of reduction in AT&C Loss - Technical losses & Revenue losses due to failures) which the nation can accrue is about INR 1000 Crores (~125 million USD) annually. Until now, electrical systems designers have focused more on equipment and cables as major components of a network.
Although these are extremely important, it is often forgotten how these pieces of equipment are connected, which determines how efficient and reliable they are. Today, connectors are getting the attention, they deserve, to optimize cost with minimum power loss and to improve network efficiency. Shripat Tech Innovation Corporation (STIC) is one such firm making leaps of advancement in the retrofit/replacement industry and has the true potential to be part of the upcoming new projects.
STIC’s real strength has been understanding its client's needs and coming up with Innovative yet Cost Effective solutions for connectors. The resounding success the firm has achieved with long-term repeat contracts and orders is a testament to their ability to deliver maximum value to customers in all areas like price, delivery, quality, consistency, and most importantly delivering the best performance. With the expansion of the Internet of Things(IoT) and 5G, STIC has created a ‘Unique Communicable Connector’ for Smart Grid applications exhibited at ELECRAMA-2020.They offer ready-to-install and fit-and-forget solutions that do not require continuous monitoring & ensure long-term reliability of the connection.
STIC is well versed with market dynamics due to its experience in Product Development and Management, Engineering, Sales, and Marketing portfolios with major reputed connector manufacturers. Our Vision statement “Enabling customers to achieve their Business & Social objectives within defined Timelines & Cost” clearly specifies our intention to provide end-to-end Solutions which are Reliable in Long Term, Energy Efficient, and Affordable,” shares Shrinivas B. Shripat, Founder, Shripat Tech- Innovation Corporation. The firm’s product lineup includes ‘TUSKER’, new-gen robust connectors, ‘EASYCON’, which are shear bolted lugs and ferrules and ‘POWERKON’ – substation connectors up to 400KV. STIC has collaborated with major companies like ADANI, MPMKVVCL, NPCL, TORRENT POWER and more. In addition, the company received commitments from DMRC, PSTCL, HVPNL, and L&TNPL to replace their conventional connectors with TUSKER Terminals up to 400kV. “Designed in India, manufactured in India, made for India, is the key differentiator. Rather than looking for already developed products, STIC seeks out noise factors to solve with their unique innovative designs,”, shares Shrinivas B. Shripat.
MILLIONS of Equipment – billions Of Connectors, is how STIC sees the Market size for connectors & with the Ever-increasing number of Electrical Equipment Network, this market is Poised to grow more than ever before
The foundation for STIC's current success is built upon many thought processes before its inception. A year full of random activities showed their presence with some initial orders during the first year, including setting up the factory and test lab, making samples, conducting tests in-house, and visiting customers. A COVID outbreak in the 2nd year forced the firm to rethink its strategy and gave the company a rejuvenated understanding of its action plan. Despite these odds, they delivered continuous positive results and are on track to meet its goals in the next decade. STIC’s team of experts bring together more than 100 years of experience in a wide variety of fields.
As of FY22, STIC has expanded its manufacturing facilities by adding a few more Automatic CNC Machines and enhancing its Test Lab facilities. The firm has taken orders so far from both contractors and OEMs, as well as from government utilities through OPEN Tender opportunities. With its innovative, competitive, futuristic, and customercentric approach, STIC has set new MSME standards in Electrical Industry.
"Enabling customers to achieve Their Business & Social objectives Within defined Timelines & Cost” Clearly specifies our intention to Provide end-to-end Solutions"
As part of the firm's commitment to India's participation in COP26, it will contribute to the Indian Government's vision to reduce AT&C losses using innovative products in the Indian Electrical Connectors market. With an enviable position in this connector segment, STIC is poised for success and will be the preferred ‘Go-to’ Partner.
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