| YEAR EVENTS
1945 - The Company was Incorporated on 20th June, at Mumbai.
- The Company's object is to manufacture batteries and allied
products and accessories.
1958 - 12,500 right equity shares issued at par in the prop. 1:2.
1962 - 7,500 Right equity shares issued at par in the prop. 1:5.
1967 - In July, 1967, 5,000 Bonus equity shares issued in the prop. 1:9.
1969 - Oldham & Son (India) Ltd., was amalgamated with the Company with
effect from 1st April.
1970 - 10,000 bonus shares issued in prop. 1:5. 22,000 shares issued to
members of Oldham & Son (India) Ltd. on its amalgamation with the
company.
1973 - 20,500 Right equity shares issued in prop. 1:4.
1983 - Exports came down to Rs.2.22 crores due to imbalance of trade
between U.S.S.R and India.
- The Company concluded a technical collaboration agreement with
the Oldham Batteries, Ltd., Denton, Manchester, U.K. to
manufacture improved types of miners cap lamp batteries,
metrhalarm and maintenance free stand-by range of batteries and
their components. Collaborations were also on hand for up-dating
the technology of industrial and submarine batteries.
1984 - Nackiketa Investments, Ltd., became a subsidiary of the Company.
- The Company made a rights issue of 4,10,000 - 15% secured
redeemable non-convertible debentures of Rs.100 each to augment
long term working capital resources and to cover a part of the
capital expenditure on the modernisation programme.
- These debentures are redeemable at a prem. of 5% in four equal
annual instalments commencing from 13th November, 1991.
1986 - The Company entered into a long term wage settlement with the
Workers Union at Mumbai, to be effective from 1st February, 1988.
1987 - A new contract was signed with Oldham Batteries Ltd., for the
supply of miners cap lamp. Implementation of the agreement with
the Farukawa Battery Co., Ltd., Japan, and with Oldhman SA,
France for industrial batteries commenced.
- The Company signed a technical collaboration agreement with Hagen
Batteries AG of West Germany for technical know-how on copper
stretch material (CSM) batteries.
- Authorised capital reclassified and increased. Equity shares
subdivided.
1989 - The Company launched during December the second generation
Standard Furukawa automotive batteries.
- The Company also introduced upgraded capacity miners cap lamp,
developed with technology from Oldham.
1990 - Sales turnover was lower at Rs.75.05 crores as compared to the
previous year, mainly due to Gulf-war and mid stream policy
changes in value addition norms for rupee exports to Russia, the
chief importer of batteries.
- Kanjur factory was being modernised to produce Type-I battery,
designed by Hagen for new generation submarines of the Indian
Navy.
- The proposed modernisation programme of the Vakola factory and
Guindy, Chennai was kept in abeyance due to the proposed
re-location of the Vakola factory at Taloja.
1991 - In the industrial batteries group, the Company introduced state
of the art low maintenance longer life batteries for the
stationary and traction applications.
- In the industrial batteries group, new products offering improved
performance were introduced. The performance of mineric cap lamp
batteries suffered due to low off-take from Coal India Ltd.
- 10,25,000 right equity shares issued (prop. 1:1; prem. Rs.40 per
share). Simultaneously, 51,250 No. of equity shares issued to
employees/workers (prem. Rs.40 per share) only 18,450 shares
taken up and the balance 32,800 shares allowed to lapse.
1992 - Turnover declined to Rs.84.48 crores mainly due to the lockout at
the Vakola factory for about 10 months.
- In spite of inflation, higher interest cost, recession in the
automotive industry and lockout at Vakola factory with effect
from 21st April to 7th May (which was lifted on 27th January
1993), sales turnover went up.
1993 - 82,37,800 right equity shares issued. (prop. 4:1, prem. Rs.10).
1998-99 - The business undertakings consisting of entire battery business of the company were sold to Exide Industries Ltd. with effect from 16/02/1998.
2010 -Company has Consolidates its Face value of Shares from Re.05 to Re 1
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