Kolkata: Affordable Robotic & Automation is a company that specialises in automation solutions for different industries but has a focus on the automotive sector. It has skills that enables it to design, manufacture and install automated systems like assembly lines, welding cells and material handling equipment. It is also n expert in setting up automated car parking systems for all sorts of buildings — residential and commercial.
On November 7 morning, the Affordable Robotic & Automation stock was trading at Rs 235.85, down Rs 6.75 or 2.78%. On November 6, the stock rose to Rs 252.95 but later dipped an settled at Rs 242.40. The market cap of Affordable Robotic & Automation is around Rs 283 crore. Recently, it has secured an order to an order from the US for supplying six new autonomous mobile robots on a two-year lease.
The order has come to the company after Affordable Robotic & Automation successfully demonstrated success in prototype trials. The deal can pave the way for expansion of the company. Reports have stated that two US warehouses will require 47–50 mobile robots over the next two years. This order has brought Robot manufacturing company Affordable Robotics and Automation Limited in news. The order has been secured by ARAPL RaaS (Humro), which is the US subsidiary of Affordable Robotic & Automation.
Vijay Kedia stake
Veteran investor Vijay Kedia holds 7.39% stake in Affordable Robotics and Automation Limited. He holds 831,043 shares which are worth about Rs 20.1 crore. In the last financial year, Affordable Robotics and Automation reported consolidated revenue of Rs 162.56 crore and suffered a net loss of Rs 11.65 crore.
Global markets in sight
The robots that Affordable Robotics and Automation are required to supply are actually autonomous forklifts. These would be designed and programmed for 24×7 safe operation. They incorporate technologies such as LiDAR-based navigation, real-time obstacle detection, and precision control algorithms. These machines will run on i-ware controller and are capable of integrating with warehouse management systems (WMS) and ERP platforms through AI and swarm robotics. These have been developed by the company in house. These are expected to improve productivity, material movement and reduce operational costs. If the order is executed to the satisfaction of the client, it could usher in expansion of the company in markets outside India.
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