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Stewarts & Lloyds of India Ltd. Company History and Annual Growth Details

YEAR EVENTS
1937 - The company was incorporated on 18th August, in calcutta. The
objective of the Company was to Erection and Installation of
piping systems, fabrication of mild steel work and bent bailers
tubes, super-heaters elements, tubular steel-structure, bridges
trestles, towers, material handing equipments etc.

1967 - 1992 shares issued without payment in cash. 4,38,450 bonus
shares issued in April 1965. In July, 1965, 2,89,550 shares
issued (prem. Rs.12.50 per share):

- (a) 49,550 shares to Tata Iron & Steel Co., Ltd.

- (b) 25,000 shares to The Indian Tube Co. Ltd. and

- (c) 2,15,000 shares to public.

1976 - 3,150 forfeited shares reissued.

1977 - 2,00,000 Bonus shares issued in prop. 1:4.

1979 - In order to reduce the non-resident shareholding in the Company,
the principal non-resident shareholders of the Company, viz.,
Stewarts and Lloyds (Overseas) Ltd., U.K. offered for sale
2,01,000 No. of equity shares of Rs.10 each of the Company at a
premium of Rs.5 each to the resident Indian shareholders of the
Company on rights basis and to the resident Indian employees of
the Company. The transfer of shares under this offer for sale
was registered on 28th of March. As a result, the non-resident
shareholding in the company was reduced to below 40%.

1983 - Production in all the four factories of the Company suffered
during the year due to inadequate and irregular flow of orders.
In addition, the two factories at Calcutta suffered loss of
production on account of frequent power cuts. Commercial
production of forged flanges commenced during the year. The
Company received approval of Government under the Technical
Development Fund Scheme for modernisation of its buttwelding
fittings manufacturing line.

1984 - Lower recovery per tonne on due to a substantial change in the
product-mix. Production at all the four factories suffered due
to unbalanced flow of orders. The position improved slightly,
particularly at the two Calcutta factories, during the later part
of the year, though power constraints continued to hamper
production. During the year, work on modernisation of the
buttwelding fittings manufacturing line began.

1985 - Production at all the four factories declined due to irregular
and inadequate flow of orders. During the year, the new
buttwelding fittings press and allied plant were installed and
commissioned.

1986 - Margins also declined due to competition and higher costs.

2002-R P Singh appointed as Director of Stewarts & Lloyds.

2003
-Mr Utpal Dhar, relinquished the charge of Managing Director of the Company wef August 31, 2003 .

2004

- Dr BP Sabberwal as Managing Director of the company

-Stewarts & Lloyds of India Ltd has extended the technical collaboration agreement, originally entered into by Tata Korf with Hotwork Combustion Technologies Ltd, UK for a further period of 5 years in favour of the company.

2007

-Stewarts & Lloyds of India Ltd has informed that Mr. Radhakant Tripathy has been appointed as a Director of the Company by the Board of Directors of the Company with effect from December 26, 2006 through a resolution passed by circulation and voted unanimously by the Directors.

2009

- Stewarts & Lloyds of India Ltd has informed that Mr. P G Vaidhyanathan has been appointed as Alternate Director to Mr. Jayanta Bhuyan, Non-executive Director of the Company by the Board of Directors of the Company with effect from April 29, 2009.

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