Transmatic Systems Limited was incorporated by Mr.M.R.Narayanan,
T.Ravindran and their associates on 19th May 1986. A promotional
agreement was signed on 10.07.1986 with the Kerala State Industrial
Development Corporation (KSIDC) as the co-promoter contributing
Rs.3.50 lacs as equity capital with an objective to establish a plant
in Kerala for manufacture of computer peripherals. The cost of the
project was estimated to be Rs.1 18.50 lacs, with the promoters
contributing 20.50 lacs, seed capital from IDBI - 10.50 lacs, loans
of Rs.39.00 lacs each
from KSIDC & KFC, investment subsidy of Rs.6.00 lacs each apart from
KSIDC equity participation. The promoter, at the discretion of KSIDC
has the option to buy back the shares held/to be held by KSIDC after a
period of 5 years from the date of first allotment of shares or three
years from the date of commercial production, whichever is earlier,
based on a pricing formula as set out by KSIDC.
The Company commenced commercial production in August 1987 of telex
interface and gradually diversified into the manufacture of dot
matrix printers, STD PCO meters and other items. The Company has its
manufacturing facilities at Gandhipuram, Sreekariyam, Trivandrum.
The company on 26-3-1991 obtained equity capital assistance of Rs.21
lacs from Technology Development & Information Company Of India
Ltd.(TDICI) under a scheme called Venture Capital Unit Scheme - 11,
referred to as VECAUS-11 formulated by Unit Trust of India for the
purpose of providing venture capital financing through TDICI. The
cost of the project was estimated at Rs. 76.14 lacs, with additional
term loans from KSIDC of Rs.39.00 lacs, investment subsidy of Rs.3.00
lacs, internal accruals of Rs.13.14 lacs apart from TDICI equity
The present holding of equity capital by KSIDC and TDICI amounts to
Rs. 15.87 lacs and Rs.95.25 lacs respectively, in the company.
The company has been funded by term loans from KSIDC, Kerala State
Financial Corporation (KFC), IDBI-Seed Capital, TDICI & HDFC.
The financial performance of the company has recorded an impressive
growth from the date of inception. Commencing with an annual
turnover of Rs.73.46 lacs in 1987-88, the turnover grew to Rs.373.52
lacs in 1990- 91, to Rs.918.02 lacs in 1992-93 and Rs.1265.35 lacs in
The company's clients include State Bank of India, Indian Bank, State
Bank of Travancore, State Bank of Mysore. State Bank of Hyderabad,
Vijaya Bank, Corporation Bank, ANZ Grindlays Bank, Air India,
Department Of Telecommunication, Reliance Group, Great Eastern
Shipping, Ashok Leyland, Tata Unysis, Pertech Computers, DCM Data
Products, OMC Computers, Voltas, Wipro and BHEL to mention a few.
The Company was awarded the Productivity Award by National
Productivity Council of India for 1989-90 and the M.K.K.Nayar
Memorial Productivity Award by the Kerala State Productivity Council
for the years 1990-91 and 1991-92.
The Company is now in the process of implementing ISO 9002.
The company has had a cordial labour/employee relationship from its
The company has an in house Research and Development facility,
recognised by the Ministry of Science and Technology. Some of the
important projects completed by the R&D include telephone call
monitors, telex software, telex utilities, software package for SWIFT
etc. Projects on hand include telexware under windows, point of sale
terminals and advanced version of telephone call monitor. Total
investments in R & D as on March, 1994 aggregate to about Rs.28.00
-Transmatic Systems ties up with Accel.
- Board has approved a scheme of amalgamation / merger with the
following companies / businesses:
1. Ushus Technologies Private Ltd, a technology company specialising
in embedded systems and software applications based in Technopark,
2. Accel Software and Technologies Ltd (ASTL), a Software and
Training Services Company based in Chennai, belonging to the Accel
Group of Companies.
3. Zener Electronics Private Ltd, a Power Conditioning Equipment
Manufacturing Company base in Chennai, belonging to the Accel Group
4. The Office Automation Division of Accel Ltd, which is dealing in
Sales & Service of Office Automation Equipment.
-Accel Transmatic Ltd, the Chennai-based technology services company,
has set up Accel Animation Studios to offer 2D and 3D animation,
visual effects and gaming services for media companies in India and
-Accel Transmatic signs agreement with Kahani World, Canada
-Setting up of wholly owned subsidiary in California, USA
-The Company has recommended a dividend of 6% for the year.
-The training division was formed into a new company called Accel
Academy Limited, which was 100% subsidiary of Accel Transmatic
-The Company has set up a wholly owned subsidiary in California by
name Accel North America Inc to enhance the marketing initiatives and
to provide on site support to it's customers in the USA for its
embedded software and animation divisions.
-The Company designated the email id of the grievance redressal
division / compliance officer exclusively for the purpose of
registering complaints by investors.
-Accel Limited acquired 51% stake in Accel Academy Limited via cash.
-Disney Channel acquires Accel Animations Ek tha Jungle 3D animated.
-Accel Animation in Co Production Pact with Big Animation to produce
Shaktimaan - in Animated Avatar.
-Mr. ST Prabhu has been co-opted as Additional Director as well as
Wholetime Director of the Company.