1960 - An industrial licence was granted to the Company in June for the
manufacture of 1,20,000 nos. of hydraulic (telescopic) type shock
absorbers per annum at Mumbai.
1961 - Gabriel India Ltd. was incorporated as a private company on 24th
February. The Company is promoted by the The Gabriel Company,
Cleveland, Ohio, U.S.A. and Mr. & Mrs. Dharam Chand Anand, Mr.
Kuldip Chand Anand and Satish Chand Anand (collectively called as
the Anands). It was converted into a public limited company on
21st May, 1964.
- The Main Object of the Company is to manufacture shock absorbers,
bimetal strips and bimetal bearings.
- The Company entered into a financial and technical collaboration
agreement with The Gabriel Company, Cleveland, Ohio, U.S.A., on
29th August, for the implementation of the shock absorbers
- Allotted 4,750 shares to Gabriel International Inc. U.S.A. and
4,750 shares to promoters, directors, etc.
1963 - The Gabriel Company, U.S.A., was wholly acquired by Maremont
Corporation, U.S.A., in November. Maremont thus became the
holding company of Gabriel International Inc., Panama, U.S.A.
- Federal-Mogul Corporation, U.S.A. were the Company's technical
and financial collaborators for the manufacture of copper-lead
alloy powders, bimetal strips (both babbit and copper-lead type)
and bimetal bearings.
1964 - 9,500 Right shares issued at par in prop. 1:1.
1966 - During September, a licence was granted for substantial
expansion of the capacity of the shock absorbers from 1,20,000
Nos. to 10,00,000 Nos. per annum.
1973 - Issued 19,000 Bonus shares in Oct. 1966 in prop. 1:1 and 19,000
Bonus shares issued in prop. 3:2 on 29.5.1978.
1978 - Shares subdivided on 28.11.1977. 8,55,000 Bonus shares issued
in prop. 3:2 on 29th May.
- Issued 3,69,600 shares to Federal, Mogul Corporation, U.S.A. and
3,17,400 shares to Financial Institutions both at par, 5,28,000
shares offered at par to the public in September.
- Gabriel International Inc., Panama and the major Indian
shareholders on 28th August, sold, 1,57,900 No. of equity shares
of Rs.10 each of the Company to ICICI, IDBI, LIC, UTI and GIC and
- After the issue of shares to the public during September, the
non-resident holding in the Company was reduced to less than 40%.
1979 - The Company entered into a technical collaboration with Newton &
Bennet Ltd., U.K., to improve the quality of heavy duty shock
absorbers for Railways and Defence applications.
1985 - The Company entered into an agreement with Maremont Corportion,
U.S.A., for the manufacture of McPherson struts. Incidentally a
letter of intent for McPherson struts was received by the Company
from Maruti Udyog Ltd.
- At its Mulund works, consequent upon labour unrest, a 3-week
lock-out was declared.
1986 - Industrial unrest disrupted the operations of the Company.
- A letter of intent was received from Maruti Udyog Ltd. for the
supply of McPherson struts for Maruti vans.
1987 - A collaboration agreement was signed with IIC - SOQI of the
Yamaha Motor Company Group for the manufacture of two-wheeler
shock absorbers. A new plant was set up at Nasik in Maharashtra
for the purpose.
- A new plant was also being set up at Nasik to manufacture front
forks for motor cycles. A technical collaboration agreement was
also signed with Yamaha Motor Co. in this respect.
- Another plant was being set up at Dewas in Madhya Pradesh for
the manufacture of shock absorbers.
- A new plant was set up for expanding the capacity for manufacture
of aluminium-tin as well as copper-lead thin walled bearings at
the bearing plant at Parwanoo.
- A technical collaboration agreement was signed with BHW, Germany,
for the manufacture of large size as well as thick-walled engine
bearing at a plant to be set up at Parwanoo.
1990 - The Engine bearing division suffered a setback due to industrial
relations problems for a period of three months. The
modernisation programme of the plant was also affected adversely
due to industrial unrest.
1991 - During April the Company issued 3,69,600-14% secured redeemable
partly convertible debentures of Rs 200 each on rights basis to
the existing equity shareholders in the ratio of 7 debentures for
every 50 equity shares of Rs 10 each held. Additional 45,076
debentures allotted to retain oversubscription.
- Simultaneously, 18,480 debentures were offered to the employees
(including Indian working directors)/workers of the Company on an
equitable basis. Additional 343 debentures were allotted to
retain over-subscription. All these debentures were allotted on
- As per the terms of issue, Rs 120 of each debentures was to be
converted into four equity shares of Rs 10 each at a premium of
Rs 20 per shares at the end of 6 months from the date of
allotment of debentures.
- The balance Rs 80 of each debenture would be redeemed at par at
the end of 7th, 8th, 9th and 10th year from the date of allotment
in four equal instalments of Rs 20 each.
- 17,33,996 shares allotted (prem. Rs 20 per share) on conversion
of debs. 85,197 shares allotted to Gabriel International Inc.
- Exports were adversely affected due to the disruption of
bilateral rupee trade with erstwhile Soviet Union.
1992 - The Company's two state-of-the-art plants, for the manufacture of
shock absorbers at Dewas, M.P. and Front Forks for motor cycles
at Nasik, went into commercial production.
1994 - The Company proposed to issue 14% partly convertible debenture of
Rs 250 each of the aggregate nominal value of Rs 66.89 crores to
the shareholders on Rights basis in prop. in order of 5 equity
shares : 3 PCD of face value of Rs 250 each to meet the long term
requirement of funds for the on-going expansion, divesification
and modernisation programmes.
- Part 'A' portion of Rs 125 of PCDs shall be automatically and
compulsorily converted into one equity share of Rs 10 each of the
Company at a premium of Rs 115 per share on expiry of 12 months
from the date of allotment of the debentures.
- Part 'B' portion of Rs 125 each of PCDs were to be redeemed in
three annual instalments at the end of 6th, 7th and 8th year from
the date of allotment.
1995 - The Company doubled the capacity for Shock Absorbers at its
Dewas plant and Front Forks at its plant in Nasik. Two new
state-of-the-art plants for the manufacture of high quality
shock absorbers and struts were being set up in Pune and Hosur to
cater to the OE requirements for the new generation vehicals and
- The Company has entered into technical collaboration with Kayaba
Industries, Japan for manufacture of shock absorbers and struts
for Maruti Suzuki range of vehicals.
1996 - Engine Bearing division increased capacity by introducing a
automated line purchased from USA to meet the increasing
requirements of both domestic and export markets.
- 26,75,198 No. of equity shares issued on conversion of 14% PCDs.
1997 - A new state-of-the-art plant for manufacturing high quality shock
absorbers for 2/3 wheelers was set at Hosur.
- New plants for the manufacture of struts and shock absorbers are
being set up at Khandsa.
- A new state-of-the-art autoline has been installed to enhance
quantities and quality.
- A new agreement with Arvind Industries to put in the latest
technologies at the new Pune plant has been signed.
- GIL has subsequently entered into collaborations with Yamaha
Motor USA for two-wheeler front shock absorbers and struts and
Federal Mogul USA, for sliding contact bearings to feed export
- GIL's foresight in setting up manufacturing set-ups close to
OEM's has started paying rich dividends - as for all its OE
consumers who have expanded capacities, implementing concepts
like just-in-time (JIT) are becoming imperative.
1998 - Gabriel India Ltd (GIL) stands as a leader in the ride control
equipment in the country.
- The Company has technical collaboration with Gabriel Ride Control
Products Inc. and Federal Mogul Corporation - both of the US -
for its other plants.
- Gabriel India has introduced a voluntary retirement scheme (VRS)
for its executives and workmen who have completed 10 years of
service or 40 years of age.
1999 - The company has also expanded its capacity for engine bearings at
Parwanoo in MP, and is setting up a new product line for
manufacture of struts in the Kayaba design for Maruti car.
2000 - Crisil has assigned BBB+ rating to the proposed Rs 150 million
NCD issue of the company. The outstanding rating on the NCD
issue of the company has been downgraded to BBB+ from A.
-Gabriel India signs contract with Arvin Meritor, USA
- Gabriel India Ltd has appointed Mr. Rajeev Vasudeva as an additional Director.
- Gabriel India Ltd has appointed Mr. John A. Crable as the Director in Casual Vacancy created by the resignation of Mr.Rakesh Sachdev.