- The Company was incorporated on 24th May, as a Private Ltd. Company
and it was converted into a public limited company in October 1962.
The company was jointly promoted by T.V. Sundaram Iyengar & Sons Ltd.,
and Clayton Dewardie Holdings Ltd., U.K. (CDH). It manufactures
brakes exhausts, compressors, servos units, stack adjusters, brake
chambers, reservoirs, hoses, mopeds and non-ferrous castings.
- 9,446 shares allotted to Clayton Dewandre Holdings, Ltd., U.K.,
without payment in cash against supply of plant and machinery.
- The Company established an aluminium foundry for the manufacture of
non ferrous castings.
- The company set up another plant at Hosur for the manufature of
mopeds which are sold under the brand name TVS-50'.
- Bonus Equity shares issued in prop. 1:3.
- The licensed capacity was increased to 1,19,000 sets in Nov.
- The company entered into a license and technical assistance agreement
with Clayton Dewandre Company Ltd. (CDC), U.K. for the manufacture of
system protection valves. The Company also entered into two license
and Technical assistance agreements with WABCO, GAHREUGBREMSEM LTD.
West Germany, for the manufacture of dual brake valves, trailor control
valves and hand operated brake valves.
- The Company proposed to enter into another licence and technical
assistance agreement with the Union Switch and Signal Division of
American Standard Inc., U.S.A. (AS), for the manufacture of signalling
relays, point machines and related hardware. The plant was proposed to
be constructed at Hosur, Dharmapuri district, Tamil Nadu State.
- Shares sub-divided. 22,76,110 bonus shares then issued in prop.
- 11,38,055 shares issued (prem. Rs 10 per share) of which 56,900
shares to employees and 22,760 shares to business associates were
reserved for allotment. 10,58,395 shares offered to the public in
- A letter of intent and clearance under the MRTP Act was received for
the manufacture of pneumatic equipment for industrial applications in
collaboration with WABCO.
- Another letter of intent and MRTP clearance was received for the
manufacture of industrial laundering, washing, cooking, dispensing and
- Clearance under MRTP for the manufacture of refrigerators at
Pondicherry was received. The Company received a letter of intent to
manufacture uninterruptible power supply systems and computer
peripherals in collaboration with M/s. Elgar Corporation, U.S.A.
Collaboration arrangements were under negotiation.
- Ausaldo Transporti, Sr. A, Italy is a collaborator for the
manufacture of signalling relays, point machines and related hardware.
- Negotiations were being held with Ausaldo, Italy for implementation
of the letter of intent granted for the introduction of micro-processor
based signal and train controlling systems through a new joint venture
to be established.
- As the moped division was sold to TVS-Suzuki, Ltd. the Company
subscribed for 14,00,000 No. of equity shares of Rs 10 each in the
rights issue of TVS-Suzuki, Ltd.
- 37,93,517 bonus shares issued in prop. 2:3.
- The production of foundry division suffered in the last quarter of
the year due to a lock-out in the factory of one of the Company's major
customers. The operations of the railway division suffered for a
variety of reasons such as stiff competition, increase in the cost of
inputs, higher working capital requirements, etc.
- The Company privately placed with ICICI 5,00,000-14% non-convertible
debentures of Rs 100 each which were to be redeemed in three annual
instalments beginning from 27th September, 1995 with a premium of 5% to
be paid with the second instalment.
- A subsidiary Company by name Railway Products (India) Ltd. was
- Investigations revealed unsatisfactory prospects for the manufacture
of industrial pneumatic equipments in collaboration with WABCO,
Hannover, Germany hence the licence was ceased and agreement was
- The Company privately placed 5,00,000-19% non-convertible debentures
of Rs 100 each aggregating to Rs 500 lakhs with the following financial
institutions: (i) 1,25,000 to LIC, (ii) 20,000 to GIC, (iii) 15,000 to
New India Assurance Co. Ltd., (iv) 15,000 to United India Insurance Co.
Ltd., (v) 2,00,000 to SBI Mutual Fund and (vi) 1,25,000 to GIC Mutual
- These debentures of Rs 100 each are redeemable in three annual
instalments beginning from 29th October, 1997, with a premium of 5% to
be paid along with second/third instalment.
- It was proposed to expand the production capacity.
- Sundaram Clayton is forging a sourcing arrangement with engine maker
Cummins for the Indian and US markets. SCL has recently achieved a
breakthrough by executing orders worth Rs 3-4 crore for Cummins of US.
-Sundaram Clayton Board have approved the variation of the terms of
contract executed between the company and Mr Venu Srinivasan, MD.
-Sundaram Clayton, part of the TVS group is betting on Anti-lock
Break System (ABS) as the new technology which could bring in
huge cost savings, especially for the commercial vehicle industry in India.
-SCL is enhancing the capacity of its aluminium die-casting foundry
from 600 tonnes per month to 1500 tonnes per month.
-TVS group company Sundaram Clayton Ltd (SCL) has acquired an order to supply die castings to Volvo for its American operations
-Sundaram-Clayton opens new division to develop software for WABCO