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Stone India Ltd. Company History and Annual Growth Details

YEAR EVENTS
1931 - The Company was incorporated on 15th January, as a Private
Limited Company and was converted into a Public Limited company
on 25th October, 1972.

- The main objective of the Company is to manufacture sale and
Service of train lighting equipment and related equipments
including dynamos, switchgear and alternators, pantograph for
electric locomotives and electrical multiple units, superheater
element for locomotive boilers, ball and joints, return bends and
brake regulating equipment for railway rolling stocks, fractional
horsepower motors, complete air conditioning/ refirgeration
equipment for railways and buses, control panels, stators, rotors
and traction Motors. The Company also manufactures certain
classified equipment for the government of India.

- The Company took over as a going concern the business of selling
agencies or braches of the then J. Stone & Co., Ltd. (a company
incorporoated in the U.K.), carried on at Calcutta, Chennai,
Mumbai and other places in India and Ceylon. It also established
a workshop in Calcutta to undertake the manufacture of various
items of train lighting equipment, such as kent couplers,
junction boxes, light fittings and carriage fans.

1972 - Prior to November entire capital of Rs.53,57,000 was held by
Stona-Platt Overseas, Ltd. London. In November, 3,57,130 shares
issued at par through a prospectus. Of these, 17,856 shares
reserved for subscription for cash by the Indian directors and
employees of the Company. 3,39,274 shares offered to the public.

1976 - The name of the company was changed from Stone & Co. (India) Ltd.
to Stone-platt Electrical (India) Ltd. During the year it was
again changed to Stone India Ltd. during 1986-87.

1983 - The Company implemented the Railway's orders for freight
airbrakes.

1984 - 5,95,220 bonus shares issued in prop. 2:3.

1986 - The Company developed a range of loco value systems for Indian
Railways.

1987 - However, these profits declined due to the upward revision of the
administered prices of steel and non-ferrous metals, strike in
the Central Government Public Sector undertakings in West Bengal
and low prices for many products.

1988 - A solar powered system for navigational buoys using the latest
photo sensing lanterns, charge controllers and maintenance free
batteries was developed and launched.

- 9,92,033 bonus equity shares issued in prop. 2:3.

1991 - The company achieved allround improvement in its opertions,
despite the adverse effect of various factors like increase in
costs and interest rates, cutback in the expenditures by some
important customers and severe competition.

- The Company is a subsidiary of Stone Platt Overseas Ltd. U.K. and
is an important member of Stone-Platt Group which made available
to the company technical assistance for the manufacture of train
lighting and air-conditioning equipment. The company renewed its
technical collaboration agreement with Svenska Aktiebolagest
Bromstregulator for the manufacture of break regulatings
equipment for railway rolling, stock. The Company also has a
technical collaboration agreement with L. Faively of France for
the manufacture of Pantographs for electric locos and electric
multiples unit coaches.


- The Company had indigenously developed a design for AC instrument
cooling fan. The Company had finalised a technical collaboration
agreement with Goldstar, Republic of Korea, for transfer of
technology of instrument cooling fans.

- 9,92,000 rights shares issued at par in prop. 2:5.

1992 - The Company issue 9,92,000 No. of Equity Shares Rs.10 each of
Rights basis in the ratio of two new Equity Shares for every five
existing Equity Shares held in the Company.

1993 - The Company has entered into a Technical Collaboration with SAB
WABCO, Netherlands for manufacture of C3W Distributor Valve in
cast iron version for Railway Rolling Stock Brake System.

1995 - The Company has entered into technical arrangement with Avon
Polymer Products Ltd., U.K. to implement the Rubber Component
manufacturing Project at Thane.

1996 - During the year under review Doon-Valley Investment and Finance
Company Ltd. ceased to be a subsidiary of the Company.

1997 - The company has been engaged in the manufacture of high
technology electrical and mechanical engineering equipment for
the Railway's and Defence at its factories located at Taratalla,
Calcutta, and at Thane, Mumbai.

- The company came out with a public issue of 24,40,600 - 16
percent secured redeemable partly convertible debentures of
Rs. 50 each aggregating Rs. 12.20 crore

1999 - The Company has set up a rubber manufacturing plant, Skylark
Rubber Products, at Thane in Maharashtra.

- Stone India proposes to launch more new products in the current
year in areas of railway braking systems, air-conditioning and
secondary components for the defence sector.

2000 - The GP Goenka-controlled Stone India Ltd will be spun off into a
new joint venture with a German arm of the US-based railway
equipment supplier Westinghouse Air Brake Co. Ltd, or Wabco.

- Westinghouse Air Brake Technologies Corporation Inc., USA has
agreed to form with the company a joint venture in India for the
railway products business.

2003

-IDBI chalks out rejig package for Stone India

2007

- Stone India Ltd has informed that the Company has received an initial development order for supply of 5 sets of 180 KVA Static converter for Locomotive application to Indian Railways.
 
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