|BASED at Hosur in Tamilnadu, Easun Reyrolle was promoted by Easun Engineering and other Indian promoters in technical and financial collaboration with Reyrolle Parson of UK, now Reyrolle Protection (a division of Northen Engineering Industries, UK), which is part of the world famous Rolls Royce group. Engaged in the manufacture of Protection equipment for power systems upto 440 kv (industrial products) viz relays and control/relay panels, Easun Reyrolle has switchgear manufacturers and electricity boards as its main end users.
The company commenced production in 1980. But owing to various adverse factors, it incurred losses till 1987. However, with remedial measures, it started making profits from 1988-89 onwards, starting with a profit of Rs 10 lac in 1988-89. The shares of Easun Reyrolle are listed only on the Madras Stock Exchange.
The sales turnover registered an increase of 38% during 1991-92 as compared to the previous year, i.e., from Rs.632 lakhs in 1990-91 to Rs.873 lakhs in 1991-92. The net profit also increased from Rs.70 lakhs in 1990-91 to Rs.117 lakhs in 1991-92.
In 1992-93 the company made progress in acquiring test and balance equipments to augment the production facilities. For the first half ended Sep.'92, while sales increased by 14% to Rs 4.12 cr, net profit increased by 24% to Rs 51 lac. With a view to meet capital expenditure and long-term working capital requirements, it came out with a rights issue in the ratio of 1:1 at par in Jun. '92. As a result, the equity doubled to Rs 92 lac. It also issued 22,500 equity shares to its employees.
From 13th November, 1992 till the end of the financial year the company's workers were on strike. Therefore in spite of the company's improved performance during the first half pf 1992-93 as compared to those of 1991-92, the closure of company's operations for over 4 1/2 months in the second half of the year resulted in a loss of 49.69 lakhs.
However the company's sales picked up for the year 1993-94 and stood at Rs.525 lakhs as on 30.09.94 and profits at Rs.80.15 lakhs.
- The Company has splits its face value from Rs10/- to Rs2/-.
-Easun Reyrolle Ltd has informed that the Companys Securities stands de-listed from Madras Stock Exchange Ltd (MSE), Chennai, w.e.f. June 11, 2008.