Home  »  Company  »  Jyoti Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

Jyoti Ltd. Company History and Annual Growth Details

1943 - The Company was Incorporated as a public limited company at

- The Company was originally an engineering department of the
Alembic Chemical Works Co., Ltd. In 1935, a small beginning was
made in the manufacturing line. This manufacturing venture was
established in 1943 as a separate limited company.

- The Company's object is to manufacture hydraulic and electrical
engineering goods, ceramic products and agricultural equipments.

1969 - 25,000 pref. shares issued at par.

1971 - 25,000 Right equity shares issued at par in the prop. 1:3.

1972 - The Company negotiated a technical collaboration agreement on the
basis of joint venture with a Malaysian party for the manufacture
of pumps for mining industry as per the Company's design.

1976 - The Company entered into a technical and financial collaboration
agreement with the State owned West Bengal Electronics Industries
Development Corporation, Calcutta (WEDEL). Under the arrangement
a new Company Webel Jyoti Power Electronics Ltd., was registered.

- Jyoti and Webel agreed to participate in the share capital of the
new Company to the extent of 25% and 26% respectively and the
balance 49% was to be offered for public subscription.

- 50,000 Bonus equity shares issued in prop 1:2.

1977 - Nima, Ltd. became a wholly owned subsidiary of the Company.

1979 - The Company finalised technical collaboration with Grobe
Lahmeyer of West Germany and their associates BEA for the
manufacture of special rotating machines and thyristor drives.

- Jyoti Consultants, Ltd. became a wholly owned subsidiary of the

- 75,000 No. of equity shares issued as rights at par in prop. 1:2.

1981 - The Company issued 2,00,000 - 13 1/2% secured party convertible
debentures of Rs.100 each to finance its foundry project.

- In 1982, Rs.25 from each debenture was converted into 2 equity
shares of Rs.10 each at a prem. of Rs.2.50 per share.

1982 - The Company entered into a technical collaboration for the
manufacture of 145 KV and 245 KV SF 6 circuit breakers with
Spreacher and Schuh, Ltd., Switzerland.

- Another technical collaboration agreement was signed with
Aerowatt, France and with Beasley Industries Pvt. Ltd., Australia
for the manufacture of wind electric generators and special
coating for solar collectors respectively.

- The Company purchased the designs and drawings of 5 MW generators
2500 KW induction motors, 124 KW DC machines and brushless
existing units for alternators upto 2500 KW from Grobe Lahmeyer
Ag., West Germany.

- The Company issued 15% non-convertible debentures for Rs.250
lakhs for working capital purpose.

- 4,00,000 No. of equity shares allotted (prem. Rs.2.50 per share)
in part conversion of debentures.

1983 - The Company entered into a technical collaboration for vacuum
circuit breakers and switchgears with Toshiba Corporation of

- An agreement was also entered with M/s. Yayasom Dian Desa of
Indonesia for the transfer of technology for the manufacture of
'Jyoti' gasifiers.

1984 - The electronics division introduced 400 Relay while the laser
division introduced Vertical Laser Alignment Systems.

- The energy division also entered into licensing arrangements for
solar cookers and solar stills.

- The Company also commissioned a new test bed facility for testing
large pumps upto 2,200 cubic metres per hour capacity and HT
motors upto 1500 KW capacity.

- The Company entered into a technical and financial collaboration
agreement with Sunstrip International Inc. Canada. As per the
agreement, a new company Sunstrip (India) Ltd. was incorporated
on 16th August, 1985 with an authorised capital of Rs.1 crore.
The Company will subscribe to 21% of the equity capital of the
new company and Sunstrip International to 30%. The balance 49%
will be offered for public subscription.

- The Company issued 15% non-convertible debentures of the value of
Rs.75 lakhs to the Unit Trust of India on private placement basis
in order to augment long-term working capital resources.

1985 - The assistance for the upgradation of technology was being
utilised to implement the collaboration agreements with Toshiba
Corporation of Japan for the manufacture of Vacuum circuit
breakers and with Sprecher Energie, Ltd. of Switzerland for SF6
circuit breakers and for capital additions, replacements and
reconditioning of machine tools for the manufacture of large
pumps and large electrical machines.

1986 - The hydel sets division commissioned 3 nos. 300 KW vertical hydel
sets. The Company commissioned 2.5 MW 1000 RPM alternator with
Pielstick diesel engine, for a cement factory.

1987 - The Company entered into a technical know-how transfer agreement
with M/s. BTG (NRDC) U.K. for manufacture of Pole Amplitude
Modulated Motors (PAM) for Thermal Power Stations.

- The Company came under the provision of the Sick Industrial
Companies (Sp. Provisions) Act 1985.

- 8,80,000 right equity shares issued at par in prop. 1:3 during
No. 1988 (only 29,477 shares taken up).

1989 - In January, the Board for Industrial Financial Reconstruction
(BIFR) appointed ICICI to draw up the rehabilitation package.

1991 - 8,50,523 shares unsubscribed out of 1988 right issue allotted
(4,70,523 shares to shareholders and 3,80,000 shares to
promoters group). Another 2,20,000 shares allotted to promoters
group as per the order from BIFR.

1992 - The electronics and control systems division of the Company
introduced two new products viz., IDMTL relays in draw-out case
and Mini auxiliary relays.

- The Company also developed successfully 33 KV, 25 KA, 2500 Amps,
indoor panel with vacuum circuit breaker.

- The Company proposed to convert 2,00,000 - 13.5% convertible
debentures of Rs.75 each (residual portion) and 2,50,000 - 15%
secured redeemable non-convertible debentures of Rs.100 each into
equity shares of Rs.10 each at a prem. of Rs.10 per share. Those
debentureholders not desirous of converting their debentures into
equity shares would be entitled to receive redemption amount, in
terms of the scheme sanctioned by BIFR.

- 11,78,989 shares issued to promoters group as per the order
from BIFR.

1993 - Profitability was affected due to stiff competition, increased
interest burden and higher wage bill.

- The Company developed standard Alternator of 100 KVA and 1250 KVA
in 6.6 KV and 11 KV and 33 KV vacuum circuit breakers and panels
for indoor applications.

- The company successfully developed and type tested 250 KW/60 KW,
1500 RPM/100 RPM Dual speed Induction Generators for wind turbine

- Also developed series of alternators with class 'F' insulated
stator and class 'H' insulated Rator.

- 19,99,011 No. of equity shares (prem. Rs.10 allotted on
conversion of 13.5% convertible debentures and 15%
Non-convertible debentures.

1994 - The Company's range covers 'Unibuilt' (Monobloc) centrifugal
pumps, horizontal split casing pumps, horizontal and vertical
non-clog pumps, axial and mixed flow vertical and horizontal
pumps, and handling pumps, chemical pumps and other special
purpose pumps.

- The Company gave licence to Mahabir Export and Import Co. Pvt.
Ltd. for the manufacture of some sizes of horizontal split
casting type centrifugal pumps, horizontal van-clog type
centrifugal pumps, vertical non-clog type pumps and unijet system
on the same terms of royalty as were existing between the Company
and Mahabir Export & Import Co. Pvt. Ltd.

-Jyoti secures order from HCC-NCC JV


-Jyoti Ltd has appointed Mr. Amit S Bhatnagar as an Additional Director (Independent) of the Company.

- Jyoti Ltd has got two major orders amounting Rs 541 crore for supply of pumps for irrigation and drinking water purposes from the Karnataka Neeravari Nigam Ltd (KNNL)


- Jyoti Ltd has informed that Dr. Bhimsen Pathak has been appointed as an additional Director on the Board of the Company., w.e.f. March 27, 2009.
Oct 21, 12:00 am
Oct 21, 4:14 pm
Subscribe now to get personal finance updates in your inbox!