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BCL Forgings Ltd. Company History and Annual Growth Details

1967 - The Company was incorporated on 6th May as a private limited
company. With effect from 22nd September, 1975 the Company
became a subsidiary of Business Combine, Ltd. (BCL). As a
result, it became deemed public limited company under Section
43-A of the Companies Act, 1956. After the public issue (June
1984) the Company ceased to be a subsidiary of BCL.

- The main object of the Company is to manufacture forgings
and castings of all types of ferrous and non-ferrous metals.

- The Company entered into a technical collaboration agreement with
M/s. Franz Mayer GmbH of Plettenberg, West Germany.

1979 - All shares were taken up by promoters, etc.

1980 - 5,115 rights equity shares allotted in the prop. 3:5.

1984 - With a view to reduce fuel consumption, a new furnace was put
into operation and other furnaces were being installed.

- With effect from 22nd May, the name of the Company was changed to
the present one from Viscorts Forge, Ltd.

- Equity shares sub-divided. Authorised capital reclassified.
42,500 bonus shares issued in prop. 1:3. 4,57,500 shares
reserved and allotted to employees, directors, etc. and business
associates and 4,17,500 shares offered to the public.

1985 - A heat treatment furnce was commissioned.

1986 - As a part of the ongoing modernisation programme, the Company
made some additions such as recuperator, grinding machine, etc.,
to its plant and machinery.

- 1,150 shares forfeited. These were reissued at par to
shareholders. 6,27,500 rights shares then issued at par in prop.
1:1. Only 2,15,752 shares taken up. Another 14,855 shares
allotted privately. Another 32,500 shares offered at par to
employees but none were taken up. Unsubscribed employees quota
was allowed to lapse.

1990 - The Company undertook an expansion project for which a separate
shed was constructed.

- The Company carried out its phased modernisation of production
facilities by installing plant and machinery.

- XLO Gaskets, Ltd., is a subsidiary of the Company. The name of
the subsidiary was changed to 'BCL Gaskets Ltd.'.

1991 - The Company proposed to set up mechanized and sophisticated
inspection processes and chemical and physical laboratories at
par with international standards. It was also proposed to double
its production and turnover by 40% during 1992-93 in addition to
achieving substantial exports in the next three years.

- 8,58,137 rights equity shares offered at par in prop. 1:1.
Additional 1,28,720 shares allotted to retain oversubscription.
Another 43,000 shares issued to employees but only 4,650 shares
taken up. The balance 38,350 shares allowed to lapse.

1992 - Sales declined due to severe recession in the automobile
industry and was further affected by labour unrest in the latter
part of the year.

1993 - Sales further declined due to continuation of labour unrest
leading to strike till September.


- BCL Forgings Ltd has appointed Mr. Harbaksh Singh Batra as an additional director of the Company.

-BCL Forgings Ltd has has appointed Mr. Kishore J Janani and Mr. Bhargav Patel as Additional Directors of the Company.
Oct 26, 12:00 am
Oct 26, 4:14 pm
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