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Honda Siel Power Products Ltd. Company History and Annual Growth Details

YEAR EVENTS
1985 - The company was incorporated on 19th September, 1985 and obtained
the certificate of commencement of business on 10 October, 1985.
It was promoted jointly by Shriram Refrigeration Industries, Ltd.
(SRI) Honda Motor Company Ltd, Japan. Both SRI and Honda were to
subscribe to the extent of 33.33 percent each in the share
capital of the company. The Company manufacture portable
generating sets.

- The Company undertook to set up a project for the manufacture of
portable generator sets with capacities ranging between 0.25 KVA
to 10 KVA.

1987 - 70 shares subscribed for by the signatories to the Memorandum of
Association. 74,99,930 No. of equity shares then issued at par
of which the following shares were reserved and allotted;

- (i) 24,99,750 shares to Indian promoters Shriram Refrigeration
Industries, Ltd. and

- (ii) 24,99,750 shares to Honda Motor Co. Ltd. Japan, the foreign
Collaborator. Out of remaining 25,00,430 shares, the following
shares were reserved for allotment on a preferential basis:

- (i) 3,70,00 shares to NRIs on repatriation basis (only 3,27,900
shares taken up);

- (ii) 2,50,000 shares to shareholders of Shriram Refrigeration
Industries, Ltd. (None were taken up) and

- (iii) 3,70,000 shares to employees of the Company and Shriram
Refrigeration Industries, Ltd. (only 41,300 shares taken up).
The balance 15,10,430 shares along with the unsubscribed portion
of 6,20,800 shares were offered for public subscription during
August-September 1987 (all were taken up).

1988 - The Company introduced two new models of generating sets.

1990 - The Company introduced 'General Purpose Engines' used in
construction industry and agricultural sectors.

1991 - The Company launched water pumping sets based on Honda design and
another model of genset based on kerosene fuel.

1992 - The Company launched Kerosene run small genset.

1993 - 26,44,000 No. of equity shares issued at a prem. of Rs 15 per
share as follows:

- (i) 25,00,000 Rights equity shares offered (prem. Rs 15; prop.
1:3);

- (ii) 48,000 shares to employees (all were taken up);

- (iii) 48,000 shares on allotment basis to Shriram Industries
Enterprises Ltd. (all were taken up);

- (iv) 48,000 shares on pref. allotment basis to Honda Motor Co.
Ltd. (all were taken) 1,193 share kept in abeyance.

1994 - 231 shares kept in abeyance allotted.

1996 - The Company proposed to add newer models of engines and water
pumping sets to its range. The capacity was enhnaced further to
1,25,000 units p.a.

1997 - The company's focus on engines and water pumping sets and
introduction of new models in 15 HP range were well received in
the market.

- In house manufacture of Camshaft & Connecting rods required for
gensets, GP engines and water pumping sets were commissioned.

- The Company entered into a technical collaboration agreement with
Honda Motor Co., Ltd., Japan for a period of 8 years, for
know-how, assistance in procurement of plant and machinery and
the components necessary for the manufacture and assembly of the
Company's products.

- The company had been set up 10 years ago as a joint venture
between Honda and Siel.

1998 - Honda Siel Power Products, a joint venture between Honda Motor
Company, Japan and SIEL Ltd, is displaying its range of
innovative agricultural products at the Agro Tech '98 in
Chandigarh.

- Wipro, Honda Siel Power Products, and Astra-IDL have been
conferred the Analyst Awards, by The Institute of Chartered
Financial Analysts of India (ICFAI).

- The name of the company was changed from Shriram Honda Power
Equipment Ltd. to Honda Siel Power Products Ltd.

1999 - Within a year of Honda Motor Company acquiring 66 per cent
stake in the joint venture Honda Siel Power Products Ltd, the
company is now set to launch an entire range of new power
products in India from Honda's stable in Japan.

- The company presently manufactures cars in engine capacity of
1300 cc and 1500 cc at its Greater Noida plant.

- The company will launch 5.5 KVA Honda Power Rangers with
self-starters and noiseless operation.

2000 - Auto majors Honda Siel and HM Mitsubishi have bagged the India
Sales Satisfaction Index 2000 award, instituted by J. D. Power
Asia Pactific.

2002

-Mr Mantosh Sondhi, Director of the company expires.

2003

-Launches 'Honda-Gen X', a range of silent and technologically superior gensets.

-Bharat Petroleum Corp Ltd forms a strategic pact with Honda Siel to help launch getsets and geysers.

2004

-Corporation Bank has signed a memorandum of agreement with Honda Siel Power Products Ltd to provide easy loans for purchasing Honda power generators.

2008

- Honda Siel Power Products Ltd has informed that the Board of Directors of the Company at its meeting held on January 21, 2008, inter alia, has re-appointed Mr. R S Bidesi as Vice President & Whole-Time Director of the Company effective February 09, 2008.
 
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