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Bharat Gears Ltd. Company History and Annual Growth Details

1971 - The Company was Incorporated on 23rd December. The company is
promoted by Bharat Steel Tubes Ltd. and Raunaq & Co. Pvt. Ltd.
The Company manufacture automobile gears, viz., spiral bevel,
straight bevel, spur & 7 helical and worm gears, gear boxes,
forgings and continuous gas carburising furnaces.

1974 - 6,40,000 No. of equity shares subscribed for by promoters, etc.
30,000 Pref. and 1,60,000 No. of equity shares offered at par to
the public in January 1973. Pref. shares redeemable during
8.2.1985/88 at 3 months notice.

1982 - 1,20,000 No. of equity shares issued at par to financial
institution on conversion of loans during 1981-82.

1985 - 2,58,941 No. of equity shares allotted to ZF AG of West Germany
at a prem. of Rs 20 per share against technical know-how without
payment in cash.

1986 - In order to finance partly its Gear Box project, the Company
issued during November/December, 9,67,723-13.5% secured
redeemable convertible debentures of Rs 100 each as follows:

- (i) 46,082 debentures to the employees/workers of the Company on
equitable basis (none were taken up), (ii) 5,877 debentures to
the Company's technical collaborators, Zahnradfabrik
Friedrichshafer AG (ZF), West Germany and (iii) 9,15,764
debentures to the equity shareholders of the Company on a rights
basis in the prop. of 2 debentures for every 5 equity shares held

- Out of the unsubscribed portion of 3,33,273 debentures from the
shareholders quota, 2,88,955 debentures were allotted on private
placement basis and the balance 44,318 debentures remained
unsubscribed from the promoters and employees quota was allowed
to lapse.

- A portion of Rs 20 of each debentures was converted into 2 equity
shares of Rs 10 each at par as on 1st March, 1987. The
non-convertible part of Rs 80 would be redeemed at the end of the
10 year from the date of allotment with an option to the Company
to repay the amount in one or more installments by drawing lots
at any time after the end of 7 years from the date of allotment.

- 17,42,892 No. of equity shares allotted at par in part conversion
of debentures.

1987 - With the implementation of Gear Box project, a new Gear Box
division was formed which sold 235 gear boxes having sales value
of Rs 48 lakhs.

- 15 Pref. shares redeemed. The redemption date of remaining Pref.
shares extended to 8.2.1993. Rate of dividend was reduced to

1989 - The gear project had developed and marketed various components
for two-wheelers, agricultural tractors and trucks.

1991 - 7,86,000 No. of equity shares allotted at a prem. of Rs 12.50 per
share to ZF Friedrichshafen AG, Germany, foreign collaborators to
increase their shareholding.

1993 - Overall turnover declined to Rs.68.60 crores due to continued
recession in the heavy commercial vehicle and tractor markets.

1994 - The Company expanded its production capacity at its existing
factory at Mumbra and also undertook to set up a new plant after
discussing technical matters with its foreign collaborators.

- The Company's overall turnover improved to Rs.85.19 crores due to
the higher volumes in production and sales of tractors and heavy
commercial vehicles.

1996 - The Company had drawn up substantial plans to set up a new
manufacturing facility for transmission gears and also to
undertake expansion of its existing facilities at Mumbra to meet
the demand of the existing and new domestic and export customers.

- The company entered into a joint venture project with PICUP to
set up a gear project for the manufacture of 1000 tonnes of
automotive gear and 10 million nos. of thin walled bimetal
bearings per annum at Gairaul in Moradabad district of U.P. A
new company was named Raunaq Automotive Components Ltd. was
promoted jointly by Bharat Gears Ltd., and PICUP.

- Bharat Gears provided it with the technical support and
engineering services and had the sole marketing rights for the
sale of the products in India and abroad.

- The Company's turnover increased marginally to Rs.115.19 crores
due to general sluggishness in the LCV segment and export market
which resulted in lower off take of sales of gear boxes and
exports sales.

- Authorised capital increased.

1997 - The turnover rose marginally to Rs.118.04 crores due to continued
sluggishness in the domestic HCV/LCV segment coupled with
slowdown of production activities in July at the Mubra plant due
to labour unrest.

- Authorised capital increased.

1998 - The turnover rose by 16.52% to Rs.137.54 crores due to stagnant
market conditions and poor liquidity.

- Authorised capital increased. 1,166,667 No. of equity shares
allotted on November, 24th 1998. 28,750 No. of equity shares
allotted on March, 19th 1999.


-Bharat Gears Ltd has re-appointment Mr. Sameer Kanwar, Change as Executive director, Board Meeting/w.e.f. - 01.02.07

Oct 28, 5:50 pm
Oct 28, 5:59 pm
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