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Elpro International Ltd. Company History and Annual Growth Details

YEAR EVENTS

1962

-The Company was incorporated on 27th July, at Mumbai. The Company Manufacture lighting arresters, pellet and thyrite types, X-ray equipment for medical and industrial applications, Alnico magnets for domestic and industrial applications, Calrod heating elements for domestic, industrial and medical applications and other electrical apparatus.

1963

-350 shares subscribed for by the signatories to the Memorandum of Association. 84,650 shares issued by a prospectus.

1983

-The Company entered into a technical collaboration agreement with Matsushita Electric Industrial Co. Ltd., Japan for the manufacture of the most important basic component required for the manufacture of gapless lighting arresters.

-Government issued a letter of intent for expansion of the Manufacturing capacity of hard ferrites. The Company obtained industrial licence and manufactured and sold the first unit of electrostatic precipitators and control with DC power supply.

1986

-The Company's technical collaboration with General Electric Co., U.S.A. to manufacture gapless lighting arresters was approved by Government.

-The Company has acquired 15,19,000 No. of equity shares of Rs 10 each, at par, of GE Elrpo representing 49% of its paid up equity capital.

1991

-Equity shares subdivided. 8,50,000 rights share issued (prem. Rs 8 per share; prop. 1:1) 42,500 No. of equity shares (prem. Rs 8 per share) allotted to employees.

1995

-Company has signed a joint venture agreement with Sunpower Inc. for development of water pump running on biomass.

-The Company issued 84,650 No. of equity shares of Rs 100 each at par by the prospectus dated 7th June, 1963. Out of the issue, 42,500 shares were subscribed for by the General Electric Co.,New York and/or one of its subsidiaries, 12,400 shares were taken up by the Investment Corporation of India, its associates,directors and their friends, 8,500 shares were taken up by the International Electric Co. (India) Pvt. Ltd., and their friends, and the balance 21,500 shares were offered for public subscription.


-17,41,895 No. of equity shares of RS 10 each allotted to the shareholders on rights basis in prop. 1:1 and 72,000 No. of equity shares of Rs 10 each allotted to the shareholders of Switchgear Manufacturing Co. Ltd. in terms of Scheme of Amalgamation.

1996

-The performance of the company was affected due to tremendous drop in demand for lighting Arresters during the year.

2006

-The Company has recommended dividend of Re 1/- per Equity Share (i.e. 10%)

2008

- Elpro International Ltd has informed that the Board of Directors of the Company at its meeting held on January 16, 2008, has appointed Mr. Narayan T Atal on the Board of Directors of the Company.

2010

-The Company has appointed Mr. Ashok Jain as an Additional Director and member of the Company's Audit Committee.

2012

-Mr. Ram Swarup Dabriwala, director of the Company has been appointed as new Chairman of the Company.

2014

-Rashmi Patkar has been appointed as the Company Secretary of the Company with effect from February 24, 2014

2015

-The Company has allotted the Bonus Shares to its shareholders in the Ratio of 2:1.

-Elpro International has splits its face value from Rs. 10 to Rs. 2

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