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LG Balakrishnan & Bros Ltd. Company History and Annual Growth Details

YEAR EVENTS
1956 - The Company was incorporated in March. It was converted into a
Public Limited Company in January 1975. The Main Objects of the
Company is Building of bodies for buses, lorries and vans;
manufacture of automobile and industrial components, reclaimed
rubber, and sales and services in automobile parts and
accessories. The Company also carried on transport operations.

1976 - Out of the total 2,01,000 shares issued as bonus till March,
1977. 1,69,000 shares issued at par to the public in February
1975.

1977 - Combined Industrials, Ltd., became a subsidiary of the Company.

- 4,00,000 Bonus shares issued in prop. 1:1.

1981 - Elgibi Engineering Works, Ltd. became a subsidiary of the
Company.

- Authorised capital reclassified. 2,00,000 Bonus equity shares
issued in prop. 1:4.

1983 - Super Engineers, Ltd. became a subsidiary of the Company.

1986 - As at 30th June, the Company held all the 25,000-9.5% preference
shares of Rs 10 each and all the 1,25,000 No. of equity shares of
Rs 10 each of this subsidiary.

- As at 30th June, the Company held all the 10,000-9.5% preference
shares of Rs 10 each and all the 90,000 No. of equity shares of
Rs 10 each issued by Elgibi Engineering Works Ltd.

- As on 30th June, the Company held 1,100-9.5% preference shares of
Rs 10 each and 68,900 No. of equity shares of Rs 10 each of
Super Engineers, Ltd.

- Authorised capital increased.

1989 - The Company merged with Elgibi Engineering Works Ltd. Combined
Industrials Ltd. is also a subsidiary of the company wherein the
Company held all the 1,25,000 No. of equity shares of Rs 10 each
and 25,000-9.5% preference shares of Rs 10 each.

1993 - 5,00,000 Rights equity shares issued in prop. 1:2.

1994 - The Company set up one more unit at Vaiyampalayam to manufacture
Chains at a cost of Rs 6 crores.

- The wind energy farm of 1.125 MW capacity comprising 5 wind mills
was installed at Muppandal in Tamil Nadu at a cost of Rs 398.75
lakhs. It was commissioned in 1995. In the previous year two
more wind energy farms of 0.450 MW capacity was set up.

- 7,50,000 Rights equity shares issued (Prem. Rs 65, prop. 1:2).
Another 37,500 shares issued at a premium of Rs 65 per share of
Rs 10 each allotted at a premium of Rs 100 per share to Group
Companies on preferential allotment basis. 7,81,960 Bonus shares
issued in prop. 1:3.

1996 - The Company offered Voluntary Retirement Scheme. Authorised
capital restructured. 356 No. of equity shares allotted.

1997 - L.G.B. Industries Limited was amalgamated with the Company with
effect from 1st April.

- The Company has taken over the operations of Steel Division of
M/s. Elgi Automotive Services Limited and wire flattening
divisions of M/s. L.G.B. Auto Products Limited located at Karur.

1998 - 7,98,000 No. of equity shares issued on amalgamation of L.G.B.
Industries Ltd. with the Company in prop. 1:5.

2003 - Recommendation for the issue of bonus shares in the ratio of 1:1

Splitting the face value of equity share of Rs 10 each into share of Rs 1 each.

Withdrawal of the proposal of the Employee Stock Option Scheme (ESOS) and Employee Stock Purchase Scheme (ESPS).

Company has fixed December 17, 2003 has been fixed as Record Date for the purpose of Bonus Issue and Stock Split.

2004

-LG Balakrishnan & Bros Ltd has informed that the Company has signed MOU with MGM Industries and Swathi Gears & Heat Treaters, Mysore based firms

2006

-LG Balakrishnan enters into an agreement with International Finance Corporation, Washington

2006

-LG Balakrishnan & Bros Ltd has inducted Smt Rajsri Rajiv as an additional Director in the Board of the Company.

2007

-The company has issued rights in the ratio of 1:9 at a premium of Rs.0/- Per Share.

2008

-LG Balakrishnan & Bros Ltd has informed that the securities of the Company has been de-listed from the Madras Stock Exchange Ltd (MSE) with effect from May 20, 2008.