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Esab India Ltd. Company History and Annual Growth Details

YEAR EVENTS
1987 - The Company was incorporated on 10th November, as Esweld Pvt.
Ltd. and the name was subsequently changed to Esab India Pvt.
Ltd. It was converted into a public limited company on 17th
August 1988. The Company was promoted by Esab Holdings Ltd., UK
a wholly owned susidiary of Esab AB Sweden. The company
Manufacture welding and cutting equipment accessories and
systems, flux-cored/tubular welding wires, submerged arc and
welding fluxes etc.

- Esab AB, Sweden took over the welding operations of Philips,
Netherland, parent company of Peico, Electronics & Electricals
Ltd., Europe.

1992 - During the year the company issued 17,87,843 - 14% partly
convertible debentures of Rs 100 each on Rights basis in
proportion 15 debs: 100 No. of equity shares held. Another
94,097 debentures were issued to the employees' on a equitable
basis (all were taken up).

- Part A of Rs 60 of the face value of each debenture was to be
converted into 3 No. of equity shares of Rs 10 each at a premium
of Rs 10 per share at the end of six months from the date of
allotment of debentures. Accordingly 56,45,820 shares were
allotted.

- Part B of Rs 40 of the face value of each debenture was to be
redeemed at par at the end of 6th, 7th and 8th year from the date
of allotment of debentures. The Company also issued 37,48,200-
zero interest fully convertible debentures of Rs 20 each to
foreign collaborators. These debentures are convertible into 1
equity share of Rs 10 each at a premium of Rs 10 per share on
1.10.1992.

- 49,99,993 No. of equity shares of Rs 10 each were then issued
at par of which 19,95,000 shares were reserved for allotment to
the promoter viz. Esab Holdings Ltd., and UK, Esab, Sweden. Of
the remaining 5,00,000 shares reserved for allotted on a
preferential basis to employees (only 2,67,300 shares taken up).
Balance 25,04,993 share along with unsubscribed portion of
22,32,700 shares from employees quota was issued to the public.
(All were taken up).

1994 - The Company proposed to launch additional products. Some new
products within the existing business lines were launched.

- The Company undertook to expand the existing unit and introduce
new specialised consumables, welding equipment and accessories to
cater to the growing Indian market, some of which would be import
substitutes.

- Effective 18th February and with effect from transfer dates 1st
April, 1992, Maharashtra Weldaids Ltd. (MWL) was amalgamated with
the company. As per the scheme the erstwhile shareholders of MWL
were allotted one share for every two shares held by them in MWL.
Accordingly 9,99,000 No. of equity shares were allotted.

1999 - As on 31st March, Flo-tech Welding & Cutting Systems Ltd., became
a subsidiar of the company.

2002- Esab India Ltd has informed BSE that it has been decided by Esab Group to close down the equipment manufacturing operations in Esab Thailand and transfer the same to its Equipment Factory at Kolkata.

- Esab India Ltd has informed BSE that Mr H V Schoyck has resigned as a Director and Chairman of the Board of Directors. Mr Homi Mullan has been nominated as a non-retiring Director and Chairman of the Board of Directors of the Company in place of Mr Schoyck w e f October 29, 2002.

2003-Esab India Ltd has informed BSE that the Mr G Hariharan has been appointed as a Whole-Time Director of the Company with immediate effect.

- Esab India Ltd has informed BSE that the Mr G Hariharan has been appointed as a Whole-Time Director of the Company with immediate effect.

-Mr. P Mallick has appointed as Non-Executive Director of the Company and Mr. B Pekkari has resigned as Non-Executive Director of the Company.


2004

-delists shares from Calcutta Stock Exchange Association Ltd

-Erkadi Systems has entered into an exclusive production arrangement with the Swedish company's subsidiary, Esab India.

2006

-Esab India - Esab AB, Sweden secures order from ISRO

2010

- Esab India Limited has appointed Mr. Vikram Tandon & Mr. Sudhir Chand as additional directors, liable to retire by rotation, with effect from April 23, 2010 by the Board of Directors at its meeting held on April 22, 2010.

- Esab India Limited has appointed Mr. James Richard Deeley as an additional director of the company with effect from July 28, 2010.

- Esab India Ltd has appointed Mr. James Richard Deeley as an additional director of the company with effect from July 28, 2010.
 
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