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JCT Electronics Ltd. Company History and Annual Growth Details

YEAR EVENTS
1976 - The Company was Incorporated on 31st August and obtained the
Certificate of Commencement of Business on 14th December.

- The Company's object is to manufacture black and white and colour
picture TV tubes.

- The Company previously known as Punjab Display Devices Ltd.
(PDDL) was promoted by Punjab State Industrial Development
Corporation (PSIDC) as a 100% subsidiary for manufacture of black
and white TV tubes, cathode ray tubes and information display
systems.

- The Company is engaged in the manufacture of black and white TV
tubes since 1978. The Company is also engaged in assembling
mechanical watches for HMT.

1982 - A letter of intent was received for the manufacture of colour
picture TV tubes. PSIDC requested Jagatji Cotton Textile Mills
Ltd. (JCT) to join as co-promoters (with JCT holding 24% and
PSIDC 11% respectively in the equity capital of the joint venture
project) in 1985.

1985 - The Company undertook to set up a project promoted jointy by JCT
and PSIDC as per the agreement entered into between them on 31st
May, for manufacture of 5 lakh numbers per annum of colour TV
picture tubes of various size. Lease hold land admeasuring 31
acres was acquired at A-32 industrial phase-VIII Mohali, Punjab,
adjacent to the existing plant premises at Mohali, district Ropar
Punjab.

1986 - Effective 30th April, the Company became a subsidiary of JCT.
The name of the Company was changed to JCT Electronics Ltd.
effective 19th March, 1987.

- The Company entered into a technical collaboration agreement for
a period of six years with M/s. Hitachi Ltd., Japan, for
technical know-how. The Company has the right to select 10 types
of various picture tubes during the currency of the agreement.

- Also, another agreement was entered into with TEBA OY, Finland
for erection and commissioning and other related services.

1987 - A second hand plant was imported from Finland for manufacture of
colour picture tubes. The plant and equipment required for the
assembly operations (integrated tube component) was commissioned
on 16th January.

- 21,00,000 No. of equity shares allotted for cash at par.
240,00,000 No. of equity shares then issued at par of which the
following were reserved and allotted on firm basis:

- (i) 51,60,000 to JCT Ltd.

- (ii) 18,70,000 to PSIDC;

- (iii) 9,90,000 to resident directors, their friends etc;

- (iv) 25,00,000 to NRIs on repatriation basis; and

- (v) 20,00,000 shareholders of promoter companies. Of the
remaining 114,80,000 shares the following were reserved for
allotment on a pref. basis:

- (i) 45,00,000 to NRIs on repatriation basis (only 28,95,100 taken
up) and

- (ii) 12,50,000 to employees (including Indian working
directors/workers of the Company and promoter companies (only
1,78,400 taken up). The balance 57,30,000 shares along with
26,76,500 shares not taken up under preferential quota were
issued to the public during November. Additional 13,70,445
shares allotted to retain oversubscription.

1988 - Brand new black matrix equipment was imported from Hitachi Ltd.,
Japan. Final Phase-III of the project started from mask process
and coating process commenced in October.

- The Company proposed to utilise the in-line gun stripe screen and
shadow mask technology for the manufacture of products. Hitachi
was to provide technical know-how for manufacture of other models
such as mini-neck 22 mm flat square tube, 14', 22' and 26' tubes
apart from Hitachi model of 20'-90 degree angle tubes.

1990 - The Company finalised an expansion plan to increase the capacity
of colour picture tubes from 5,00,000 to 8,00,000.

1993 - The overall profitability was very good due to the growth in
demand for TVs. With the advent of satellite TV broadcasting,
vast improvement in the quality along with increased availability
of software was observed.

- The Company undertook to expand its manufacturing capacity of
colour picture tubes to 1.8 million tubes by 1996.

1994 - The overall profitability was satisfactory due to reduction of
overheads through stringent cost control measures.

- The Company proposed to set up a project for manufacture of one
million colour picture tubes per annum at Baroda with integrated
facilities to manufacture the electron gun and deflection yokes
also.

- 22,82,248 No. of equity shares allotted (prem. Rs.74.50) to
Hitachi Ltd., Japan on private placement basis.

1995 - 48,00,000 No. of equity shares issued to Financial Institution on
conversion of loan.

2003

-Announcement JCT Electronics Ltd. has informed that pursuant to the application for voluntarily delisting made by the company, the DSE has delisted the equity shares of the company w.e.f. December 10, 2003.

2004

-JCT Electronics Ltd has informed that the Ahmedabad Stock Exchange (ASE) has delisted its equity shares w.e.f. March 8, 2004.

2010

- Jct Electronics Limited has informed that the Board of Industrial & Financial Reconstruction (BIFR) has appointed Mr. Arun Ramanathan as special director on the board of the company with effect from June 30, 2010.
 
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