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Setco Automotive Ltd. Company History and Annual Growth Details

YEAR EVENTS
1983 - The company was incorporated. It is engaged in the manufacture of clutches.

1991 - Operations during the period under review was hampered by labour-unrest for six
months including a strike closure.

- The Board for Industrial & Financial Reconstruction (BIFR) in October 1990, declared
the Company as Sick Industrial Company, in terms of Section 3 (1) (O) of SIC (SP) Act, 1985.

1992 - The company has developed clutch components for Export against firm orders.

1995 - Shri K.B. Sheth and Suresh M. Mehta, in accordance with Section 256 of the Companies
Act, 1956, retire by rotation and being eligible, offer themselves for reappointment

- Shri J.B. Amin has resigned as Director of your Board w.e.f. 29.11.95.

1996 - The Company is a Sick Industrial Undertaking in terms of Section
3(1)(O) of Sick Industrial Companies (Special Provisions) Act, 1985
(SICA, 1985).

- S/Shri Vishnu Varshney and K.B. Sheth in accordance with Section 256 of the Companies
Act, 1956, retire by rotation and being eligible, offer themselves for reappointment.

- Shri K.B. Pate has resigned as Director of the Board w.e.f. 30.3.1996.

1997 - S/Shri H.T.Chauhan and Suresh Mehta in accordance with Section 256 of the Companies
Act, 1956, retire by rotation and being eligible, offer themselves for reappointment.

- Shri G.V.Konkar, Bank's Nominee Director, has resigned as Director of your Board
w.e.f. 29-05-1997.

2001 - The Company has entered into a technical collaboration agreement with Lipe of the
UK, a division of Dana Inc., US, for manufacture of heavy-duty clutches for commercial
vehicles with Cummins Engine.


2005

-Gujarat Setco acquires US' Lipe Clutch Division of $10bn

-Company has changed its name from Gujarat Setco Clutch Ltd. to Setco Automotive Ltd.

2007

Setco Automotive Ltd has informed that the Company's subsidiary Setco Automotive NA Inc. has acquired an auto component manufacturing unit of Haldex Corporation, USA, situated at Paris, Tennessee for a total price consideration of US$ 4.9 million on December 28, 2006.

-Setco Automotive Ltd has inducted Mr. Arun F. Arora as Director on Company's Board w.e.f. March 28, 2007. He is an independent / non executive director.

2008

- The Board has recommended dividend of 25% (Rs 2.5 per share).

2009

- The Board have recommended the Dividend for the year 2008-09 at 25% (i.e. Rs 2.50 per share of Rs 10/- each.

2010

- The Board have recommended Dividend at 30% i.e. (Rs. 3 (Three) per Equity Share.

- Setco Automotive has given the Bonus in the Ratio of 1:1

2011
- The Board has recommended Dividend at 40% i.e. (Rs. 4 (four) per Equity Share of Rs. 10/- each).

2012
- The Board has recommended Dividend at 40% i.e. Rs. 4 (Four) per Equity Share of Rs. 10/- each.
- Setco Automo - Allotment of Shares under Employee Stock Option Plan 2010.
-Setco Automotive has given the Bonus in the Ratio of 1:2

2013
- Setco Automotive - Allotment of Shares under ESOP 2010.
- The company has recommended Dividend at 26.5% i.e. Rs. 2.65 per Equity Share of Rs. 10/- each.

2014
- Setco Automotive - Allotment of Shares under ESOP 2010.
- The company has recommended Dividend at 26.5% i.e. Rs. 2.65 per Equity Share of Rs. 10/- each.

2015
-Setco Automotive has splits its face value from Rs. 10 to Rs. 2

2016
-Setco Automotive bags order from Ashok Leyland.

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