Innocorp the company is a result of an untiring and focused tryst of a young team of dynamic individuals, whose sole aim is to excel. As the companies name suggests, it thrives on innovation and at the same time, doing it on the corporate scale. The company believes that it must always think ahead and at the same time laterally in order to garner the opportunities that come in the way in order to take the company from stride to stride. A step at a time – with consolidation being the mantra to be adhered at all the times. With this being the cornerstone of our philosophy, Innocorp has achieved rock solid position amongst its peers in various divisions of it operations. Being a conformist, rather than a confrontationist is the apt description of this more than one-decade young company.
From the modest beginnings in 80’s Innocorp has grown to achieve a turnover of Rs.300 Million in the previous financial year. This, compared on YOY basis, represents an impressive growth of 600%. This was feasibly only due to the diversification of the Company into profitable Greenfield areas.
Innocorp was conceived as Innovations Showrooms Pvt. Ltd., in 1983 to market the consumer durables. In 1994, the company went to become a public limited company Known as Innosoft Technologies Limited [formerly known as Innovations International Exim Limited] with an authorized capital of Rs. 70.00 Millions with a main objective of setting up a production unit for manufacture of Plastic Moulded Products and was established in the Industrial Development Area at Plot No. 41, IDA, Mallapur, Ranga Reddy District. All the required Plant & Machinery and other facilities were installed in the state of the Art 25,000 sq.ft. Manufacturing facility.
In 1996, the company headed by its Founder & Chairman and Managing Director, Mr. Garapati, went for public issue and was successfully subscribed. In 2006 the company’s name is changed to INNOCORP LIMITED and is apart from its core business is also providing total infrastructural services for Power Transmission & Distribution sector like the power cable manufacturing and laying of LT & HT lines.
Under the dynamic leadership of its Founder & Chairman and Managing Director and a young and vibrant team the company has recorded consistent growth every year since the inception. Today over a period of more than 2 decades from its inception the company has grown in leaps and bounds to a profitable company with its various divisions of Plastic, Power and Trade. Not withstanding all the success it has achieved it continues to diversify onto new frontiers and greener pastures with versatility and Innovation.
INNOCORP has committed itself to the ethos of the best corporate management practices. In furtherance of these, there are the following committees, which, as their name suggests, look after the focused subject in order to ensure shareholder value and commitment to highest standards of corporate management:
These groups meet at pre fixed intervals with an exhaustive agenda to discuss thread bare the issues, problems et al and to confirm that the company stays on desired path at all times.
The deliberations of these committees in a concise form are available on the web site of the company for all to see. Innocorp is always pleased to answer any queries from any person or agency about these matters at all times.
- Audit Committee.
- Investor Grievance Committee.
- Remuneration and Manpower Committee.
- Management Committee.
Innocorp with its Power infrastructure and Plastic Division are well equipped to carry out all the tests on the incoming material, material in process and on finished products of its manufacturing divisions. In the final testing stage, Company can carry out Routine, Acceptance and Type tests in accordance with the stated requirements of a particular standard.
The facility is well equipped and calibrated to test equipment with duly laid down manuals to ensure that only the best material passes out from the gates of its factories.
Innocorp, pursuant to its belief that only the best production facilities coupled with best services can attract a good customer, strives to improve its testing capabilities from time to time by equipping itself with up to date equipment and processes.
Innocorp always accorded top priority for the Research and Development activities as it strongly believes that the marketing of the products of any organisation is possible only through continuous up gradation and development of all its technical and natural resources, which in turn will help it in producing a competitive product with best of features.
On other new frontiers, INNOCORP is in active dialogue with various gulf based investors to establish a power cable manufacturing plant at UAE.
Innocorp is also in the process of entering the field of Real Estate and construction, which is zooming northward. The company is entering into MOUs’ with various NRIs’ and corporate from the GULF in this regard.