1954 - The company was incorporated on 26th November under the name and
style Goetze (India) Pvt. Ltd. The company promoted jointly by
Goetzewerke Friedrich Goetze A.G., West Germany and Escorts Ltd.
It became a public limited company on 28th March 1961 as a
subsidiary of Escorts Ltd. The company ceased to be a subsidiary
of Escorts Ltd., on 12th May, 1978.
- A manufacturing plant was set up at Bahadurgarh, near Patiala in
Punjab state for the manufacture of piston rings and cylinder
- The main objective of the company is to manufacture piston rings,
cylinder liners, piston castings, groove inserts and light
alloy cylinders and to carry on the business of leasing.
1972 - 8,443 shares issued partly without payment in cash (the amount of
cash paid being Rs. 2,230) 14,234 shares issued as bonus shares
in prop. 1:2 during 1966-67. Total number of bonus shares issued
till date are 14,235.
1978 - The company undertook to set up a new plant at Yelahanka with a
capacity to manufacture additional 10 million piston rings per
annum. Bangalore project also envisaged the manufacture of
special types of piston rings both in material and design
covering steel rings, high alloyed cast iron high strength rings,
precision ground key stone rings and large diameter piston rings
for diesel locomotives and marine applications.
- During 1977, authorised capital reclassified and increased and
shares subdivided. 12,09,292 No. of equity shares issued (prem.
Rs. 2 per share ) and allotted on 13th May (6,39,292 shares to
Goetzewerke Friedrich Goetze, A.G., West Germany, 4,50,000 shares
to Escorts, Ltd. and 1,20,000 shares to directors and employees
of Escorts group and business association of the company).
12,53,328 shares offered for public subscription (prem. of Rs. 2
1979 - Machinery for the production of special types of rings was
received during the year at the Bangalore plant.
1980 - The machinery was installed and commissioned at the Bangalore
- 4,72,399 No. of equity shares issued (prem. Rs. 2 per share) to
financial institutions upon part conversion of loans.
1982 - 1,50,000 No. of equity shares issued (prem. Rs. 11.50 per share)
to Goetze Ag., West Germany to maintain their shareholding at
1985 - The Patiala plant was to manufacture small size pistons for
application in fuel efficient bi-wheelers with imported
equipment. During the last quarter leasing business became
- The company started leasing business with a product-mix of energy
saving devices, gas cylinders, bottles, etc. heavy construction
and earth moving equipment, industrial cranes and general
- 23,11,200 rights equity shares issued (prem. Rs. 3 per share) in
1986 - The company commenced production of light alloy cylinders for
shell moulding process and also small size piston rings.
1987 - Sales and profits registered an increase of 22% and 5%
respectively. Higher production and sales were also recorded in
the higher metal alloy cylinders and groove insert sleeves.
- During the year, the company commenced exports of processed fruit
products. The company also explored the possibility of setting
up a joint venture company for the manufacture of food products
with buy back arrangements specially for exports market.
1988 - Better product-mix and introduction of new products enabled the
company to improve the margins.
- Negotiations were in Progress to set up joint ventures in India
for food processing and packaging with buy back arrangements and
sourcing of exports by the collaborators for their world wide
- The Company developed large diameter piston rings upto 300 mm
being hitherto imported, matching pistons manufactured by Escorts
Ltd., for high horse power diesel engines and for railway
locomotives and for power generation.
- The company proposed to set up a joint venture in Singapore at a
cost of Rs. 16 lakhs for the manufacture of automotive components
for Japanese vehicles. Necessary approvals were recieved for the
company's equity participation in Goetze (Asia) Pte. Ltd.,
Singapore the joint venture with Goetze A.G of West Germany.
1989 - The company started supplying large diameter piston rings upto
300 mm developed for Indian Railways for application in
1991 - The company finalised its diversification plans in the following
- (i) A solvent extraction plant with a capacity of 300 TPD was
being set up using the latest expander technology for processing
mustard, sunflower and other oil bearing seeds. Besides Edible
Oil unit a fully integrated genetic engineering facility for
producing high yielding hybrid seeds was also proposed to set up.
- (ii) The company proposed to form a separate company in
collaboration with Nanz India KG, to enter the area of super
markets adhering to international quality and service standards.
- (iii) An 100% export oriented leather garment unit with an
installed capacity of 1.75 lakh pieces was being set up in a
- (iv) It was proposed to form a new company for the acqua culture
project. A collaboration agreement was reached with a leading
company in the field of acqua culture, for technical support and
1992 - During January, the company issued 52,00,200 - 12.5% Secured
fully convertible debentures of Rs. 60 each at par on rights
basis in the proportion of 3 debentures: 4 equity shares held.
All were taken up.
- Another 2,59,800 - 12.5% fully convertible debentures of Rs. 60
each were offered to the employees. Only 1,45,800 debentures
were taken up. The remaining 1,14,000 debentures were allowed to
- Each debenture of Rs. 60 was to be converted into one equity
share of Rs. 10 each at a premium of Rs. 50 per share on the
expiry of 6 months from the date of allotment during September.
1993 - Performance was attributed to the commissioning and production of
company's solvent extracted vegetable oil plant, leather garment
factory and production from expanded capacity of rings projects.
Exports improved considerably due to response received for
leather garments from overseas customers.
1994 - 45,78,767 No. of equity shares of Rs. 10 each allotted.
21,67,000 shares (on private placement basis and 24,11,767 shares
on preferential basis).
1995 - Brico Goetze (India) Ltd. was formed in collaboration with T&N
Ple for the manufacture of Sintered Metal Components.
- 84,23,365 bonus shares allotted in prop. 1:2 on 8.2.1996.
1996 - The turnover and performance of the company's solvent extracted
oil division, leather garments division and auto ancillaries
division was higher compared to the previous year.
- With effect from 1st October, the entire business undertaking of
piston activity was transferred to M/s. Escorts Mahle Ltd. a new
joint venture between Escorts Limited and Mahle GmbH, Germany.
- On 2nd July, 5,818 bonus equity shares were allotted, consequent
upon the consolidation of fractional coupons arised out of the
bonus issue made in the previous year.
1997 - Performance of solvent oil extraction division and leather
garment division were affected during the year.
- T&N plc of the UK, Teikoku Piston Ting of Japan, and Goetze
(India) Ltd are together forming a new joint venture company in
India to manufacture steel piston rings.
- Goetze TP is setting up a state-of-the-art plant at Bangalore
for manufacturing nitrided steel piston rings, three-piece oil
rings and other sophisticated steel rings.
- Goetze (India) Ltd. has signed a joint venture agreement with
Teikoku Piston Ring Co. Ltd, Japan and T&N Investments Ltd, UK,
to manufacture nitrided steel piston rings, three piece oil
rings and other sophisticated steel rings.
1998 - The company has proposed to arm the board with powers to buy back
shares up to 20 per cent of the company's paid-up equity capital
in one or more tranches, by investing funds up to Rs 35 crore.
- Goetze India has proposed to hive off its leather garments and
edible oils businesses to separate joint venture companies.
- Crisil has downgraded the fixed deposit (FD) programme of
Goetze India Ltd (GIL) to FA + from FAA. The rating reflects
the deterioration in the overall risk profile of the company on
account of the increasingly difficult business environment
characterised by sluggish growth in end-user industries and
increased competitive pressures, sharp decline in turnover and
profits and increased funding requirements in the current year.
- A major manufacturer of engine parts mainly piston rings (Goetz
(India) Ltd. is a joint venture between Escorts and Goetz
1999 - The company had asked its collaborators, Federal Moghul, to
re-design its work-flow through business process re-engineering
for better productivity.
-Decides to extend its voluntary retirement scheme (VRS) for another two years and proposes to reduce its headcount further by 400 employees during this period.
-A joint venture between the Escorts Group and Federal Moghul Corporation of the United States has decided to sell-off the solvent oil extraction facility for Rs 5 crore and concentrate on its core auto-ancillaries business.
- CARE has assigned a PR1 rating to the Commercial Paper programme
of Rs 40 mn of Goetze India.
2001 - Amalgamation of Wholly-owned subsidiary Federal Mogul Sintered
Products with the company.
-Mr. Arun Anand has been appointed as Whole-time Director
-Allottes on January 01, 2003, 10,00,000 - 11% Cumulative Redeemable Preference Shares of Rs 100 each aggregating to Rs 100 million on private placement basis.
- Joint Investments Pvt Ltd has acquired 68,80,260 Equity Shares of the Company on February 10, 2003 being 27.21% of the total paid up Capital of the Company from Escorts Ltd
-Hon'ble High Court of Delhi has sanctioned the amalgamation of Escorts Pistons Ltd and Coupled Investments Pvt. Ltd. (both 100% subsidiaries) with the Company w.e.f. November 01, 2002.
-Mr.B R Kapoor has retired as Executive Director of the company. he continues to be the Director of the company.
-CRISIL has reaffirmed the 'P1' rating on the Rs 40 crore (Rs 400 million) commercial paper programme of Goetze, GIL
-Board approves rights issue of equity shares for an aggregate amount of upto Rs 500 million
- i) Mr. B. R. Kapoor has resigned w.e.f. September 01, 2003; ii) Mr. Rajan Nanda has resigned w.e.f. September 27, 2003; iii) Mr. Rainer Jueckstock has been appointed as Director w.e.f. September 01, 2003; iv) Mr. Jochen Stechow has been appointed as Alternate Director w.e.f. September 01, 2003.
-Approves the delisting of the company's equity shares from the Delhi and Mumbai Stock Exchanges.
- Dr. Surinder Kapur has been inducted on the Board of the Company w.e.f December 19, 2003.
-Delisted from the Delhi Stock Exchange Association Ltd. (DSE) w.e.f. December 29, 2003 subsequent to the Company's application for delisting.
-Signs a Technology Agreement with Federal Mogul, GmbH, , Germany
-Goetze India Ltd has informed that Mr. L M Thapar has resigned from his Directorship on the Board of the Company with effect from July 26, 2005
-Goetze India appoints Arun Anand as CEO
-Federal-Mogul Goetze (India) Ltd has appointed Mr. Rustin Murdock has been appointed as Managing Director & CFO.
- Federal-Mogul Goetze (India) Ltd has informed that the Board of Directors of the Company at its meeting held on March 03, 2008, has appointed Mr. Jean Humbert Louis de VILLARDI de Montlaur as an Additional Director of the Company who further appointed as Whole Time Director & President in the same meeting.
-The company has issued rights in the ratio of 71:100 at a premium of Rs 46/- per share.