Visdem Technosys Limited(KEL)

NSE: KEL

₹ 95+0.00%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 98 crUpdated: 27 Oct 2026

About

Kundan Edifice Limited (KEL), in the process of being renamed Wisdom Technosis Limited, is an Original Design Manufacturer (ODM) and Electronics Manufacturing Services (EMS) company that designs, manufactures, and supplies LED strip lights, LED neon lights, and smart strip solutions to branded customers across India. The company describes itself as the leading provider of flexible strip lights in India and operates a single 1,40,000 sq ft facility in Vasai, Maharashtra, with installed capacity of 600 lakh metres per annum. KEL reported revenue of Rs 105.15 Cr in FY26 and has been listed on the NSE SME Emerge platform since September 2023.^{[1][2][3][4][5]}

Business model

KEL operates entirely as an ODM: it designs, develops, manufactures, and supplies LED lighting products to customers who distribute them under their own brands. It also describes itself as a trusted EMS company providing end-to-end solutions.^[1]
The core product range covers LED strip lights, LED neon lights, and smart strip solutions, serving real estate, railways, automobiles, and decorative lighting end-markets.^[1]
KEL claims to have established India's first factory with a specialised focus on LED strip lights, introducing technologies not previously present in India.^[1]

Products and portfolio

Core products: LED strip lights, LED neon lights, and smart strip solutions for indirect/linear flexible lighting applications.^[1]
New products under development or recently introduced: Neon Flex, Aluminium Profile (for furniture/wardrobe), Power Source, Submersible Strip, Wall Washers (facade), Pixel Strip, and RGB+CCT and General Lighting categories.^[2][3]
GaN-based power supplies are indigenously developed after ~2 years of internal R&D, with all designs proprietary; the company is in client discussions ahead of commercial launch as of Q3 FY26.^[6]
Power supply manufacturing is in early ramp: current output is 20,000 - 30,000 pieces per month as of Q4 FY26, with a target of scaling to 2 - 3 lakh pieces per month.^[7]
Application-specific verticals developed include facade flexible wall washers, furniture/wardrobe aluminium profiles, submersible/underwater strips, and refrigeration extreme-condition lighting.^[7]

Manufacturing operations

Single manufacturing and assembly facility in Vasai, Maharashtra, measuring 1,40,000 sq ft. In November 2024 the company consolidated its prior Bhiwandi (22,500 sq ft) and old Vasai (40,000 sq ft) units into this facility.^[2][1]
Installed manufacturing capacity: 600 lakh metres per annum as of FY25/FY26. SMT capacity upgraded from 3.65 cr metres to 5.48 cr metres PA; LV capacity raised from 16 lakh to 21.9 lakh units PA following the FY25 facility upgrade.^[3][2]
Capacity utilisation stood at ~75%, with 20 - 25% headroom remaining, as of both Q3 FY26 and Q4 FY26.^[6][7]
The facility has full power backup and is ISO 9001:2015 certified. Backward integration covers SMT lines, moulding machines, and extrusion lines.^[1][5]
The company employs over 330 employees including contract workers as of March 31, 2025.^[1]

Key operating numbers

LED strip manufacturing output: ~45 lakh metres per month (~5 cr metres per year) as of Q4 FY26.^[7]
Import dependency (as % of total purchases): reduced from 75 - 80% at inception to ~50% as of Q4 FY26, through active localisation.^[7]
Top 5 client revenue concentration: ~60% as of Q4 FY26.^[7]
Foreign exchange outgo was Rs 2,327.21 lakh in FY25, up from Rs 1,255.47 lakh in FY24; no foreign exchange earnings in FY25.^[1]

Customers and distribution

KEL supplies to key electrical and electronic manufacturing brands in India, which then distribute products under their own brand names; it does not sell under its own consumer brand.^[1]
Indirect exports (via OEM clients who re-export) cover the Middle East, Africa, and the SAFTA region as of Q3 FY26; no direct export revenue has been booked to date.^[6]
Two international clients were formally onboarded through a 6 - 8 month vendor registration/approval/sampling process as of Q4 FY26, with a third nearly finalised; direct export revenue is expected to commence in FY27.^[7]
Hettich (German furniture and modular fittings manufacturer) has been formally contracted as a global supply partner for lighting as of Q4 FY26; an additional furniture/linear lighting contract was also signed.^[7]
V-Guard (Kochi-based inverter manufacturer) is in active OEM/ODM discussions with KEL for Battery Energy Storage Systems (BESS) as of Q4 FY26.^[7]

Expansion and capex

FY27 capex is expected to remain within Rs 5 crores, including planned manufacturing automations; management noted FY25 capex is not yet fully utilised.^[7]
An incremental capex of Rs 2 - 3 crores (fundable from internal accruals) is planned; post this spend, maximum achievable topline is estimated at Rs 140 - 150 crores.^[6][7]
Power supply capacity ramp from 20,000 - 30,000 pieces/month to 2 - 3 lakh pieces/month is targeted, though no specific investment amount or timeline has been disclosed.^[7]
BESS entry is planned via technology tie-up with an international partner and SKD (semi-knocked-down) assembly; full manufacturing capability is an aspirational 2 - 3 years away from Q4 FY26.^[7][6]
Two inorganic acquisition targets (~Rs 20 crores each) are under discussion for majority-stake deals, with an expected combined incremental revenue contribution of +Rs 30 crores.^[7]

Recent developments

Q4 FY26: Management announced a company name change from Kundan Edifice Limited to Wisdom Technosis Limited; all formalities and paperwork were stated to be underway.^[7]
Q4 FY26: 'Kundan 2.0' long-range plan launched targeting Rs 225 crores OEM/ODM topline and Rs 100 - 125 crores per annum in project lighting by FY30, alongside BESS and direct export revenue streams.^[7]
Q4 FY26: Dedicated category and vertical heads created for furniture/retail lighting, project lighting, power supplies, and e-commerce; May 2026 order load was reported as above normal execution capacity.^[7]
Q4 FY26: Mainboard (NSE main board) migration targeted within approximately one year from June 2026; the company listed on NSE SME Emerge in September 2023.^[7][5]
FY25: Import localisation programme reduced import share of purchases from 75 - 80% to ~50% by Q4 FY26; target is to reduce further to ~30% within two years, partly contingent on India's domestic semiconductor ecosystem (Dholera plant).^[7]
FY25: Industry 4.0 initiative underway including implementation of SAP, HRMS, and PMS software, alongside moves towards automation and reduced labour dependency.^[6]

Market Cap

₹98 Cr

High / Low

₹133 / 61

Stock P/E

12.7

Price / Book

2.2

Book Value

₹47

EPS

₹7.6

No. of Shares

1.03 Cr

ROCE

19.1%

ROE

17.6%

OPM

13.7%

Debt / Equity

0.73

Sales

₹105 Cr

Net Profit

₹8 Cr

Promoter holding

72.3%

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