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Atlas Cycles (Haryana) Ltd. Company History and Annual Growth Details

YEAR EVENTS
1950 - The Company was incorporated on 31st May, at Sonepat.

- The Company's objects is to manufacture bicycles and bicycle
components and parts. Some of the trade names used by the
company are 'ATLAS', 'ARMY', 'EASTERN STAR' and 'ZEBRA'. The
factory is located at Sonepat, near Delhi, and the factory
buildings cover an area of about 2,50,000 sq. ft.

- The capital structure in 1956. 3,144 pref. shares fully paid-up
160 pref. shares 90% paid-up 255 pref. shares 50% paid-up.

1969 - The Company sponsored a scheme for the manufacture of powered
bicycles in technical collaboration with S.A.C.E.M. of France,
one of the largest manufacturers of powered bicycles under the
trade name 'Velosolex'.

- 1,10,000 bonus equity shares issued in the prop. 1:2.

1970 - A new company under the name and style of Atlas Auto-Cycles Ltd.,
was registered as a subsidiary of the company for this purpose
on 9th March. This company was to manufacture 50,000 powered
bicycles per annum. The company obtained Governments approval
for investing Rs.10 lakhs in the equity capital of Atlas
Auto-Cycles Ltd.

1971 - The Collaboration agreement for the manufacture of powered
bicycles was unilaterally terminated by the foreign collaborator
on technical grounds.

1972 - In January, the factory entered into a technical collaboration
agreement with an Iranian party who proposed to manufacture
bicycles and bicycle parts. The company was to supply technical
know-how etc. in consideration of some technical fees payable by
the Iranian party.

- The Company also entered into another 10 year collaboration
agreement with the National Development Corporation of Tanzania
for the manufacture of bicycles in that country. This agreement
was transferred to The National Bicycles Co., Ltd. Tanzania.

1977 - 2,00,000 bonus equity shares issued in prop. 5:11.

1978 - 1,10,000 bonus equity shares issued in the prop. 1:3.

1979 - Punjab and Haryana High Court approved the amalgamation of this
subsidiary with the company with effect from 1st January.

- Authorised capital reclassified. 7,579 - 11% pref. and 1,29,337
No. of equity shares allotted to members of Atlas Auto-Cycles,
Ltd. without payment in cash upon its merge with the company.

1985 - The Company went ahead with its tube mill project at Gurgaon
(Haryana). A factory with a production capacity of 10,000 TPA of
tubes, was under construction.

1986 - Land and buildings of the company were revalued as on 30th June,
and the net surplus of Rs 789.06 lakhs arising out of this was
credited to capital reserve.

1987 - 3,84,668 bonus equity shares issued in the prop. 1:2.

1990 - 6,856 - 11% pref. shares were redeemed as on 31st March, 1991.

1991 - 723 - 11% pref. shares redeemed. 4,71,250 No. of equity shares
issued on part conversion of pref.

1992 - The company issued 494550 - 15% PCD of Rs.200 each on Rights
basis. Of these Rs.130 of the face value of each debenture was
converted into one equity share of Rs.10 each at a prem. of
Rs.120 per share. Accordingly 471250 shares allotted.

- Balance Rs.70 of the face value of each debenture was to be
redeemed at par in three instalments of Rs.25, Rs.25 and Rs.20
at the end of 7th, 8th and 9th year respectively from the date
of allotment of debenture ie., on January 2000, 2001 and 2002
respectively.

1994 - A sophisticated latest technology tube mill for rolling bigger
dia tubes was installed and commissioned.

- During October, November the company issued 8,25,000 - 12.5%
second non convertible redeemable debentures of Rs.200 each with
detachable warrants.

- Rs.200 of the face value of each debenture was to be redeemed in
three equal instalments at the end of 7th, 8th and 9th year
respectively from the date of allotment of debentures ie.,
November 2000, 2001, & 2002 respectively.

- Each warrant entitles the holder to apply for one equity share of
Rs.10 each at a prem. of Rs.230 per share between expiry of 12
months from the date of allotment of debentures.

- 8,12,627 bonus equity shares issued in prop. 1:2.

1995 - A number of new sizes were added to the existing product range.
A godown was opened in Delhi & at Pune for sale of tubing.

1996 - The performance of the second bicycle plant at Sahidabad showed
an upward trend mainly due to the newly introduced 'Laser' series
of bicycles and aggressive marketing strategies etc.

- The third bicycle unit with a modern state-of-the-art plant is
situated on 16 acres of land at Malanpur, district Bhind,
Gwalior. It has fully automatic computer controlled debrassing
pre-treatment and paint plant. Overhead conveyors running into
kilometers have been provided for improved material handling.
Also, specially designed ramps have been provided for loading
and unloading of trucks.

- 7,87,937 No. of equity shares allotted (prop. Rs.5 per share)
against detachable warrants along with 12.5% Right NCDs of
Rs.200 each.

2000 - Noted Industrialist and Atlas Cycle Industries Ltd. president
Bishamber Das Kapur passed away on 16th August night at
the Escort Heart and Research Institute.

2001 - The name of the company be changed as 'Atlas Cycles (Haryana) Ltd'.

2004

- Atlas ropes in Sunil Shetty, Sania Mirza as brand ambassadors
 
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