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TVS Srichakra Ltd. Company History and Annual Growth Details

OBJECTS & ACTIVITIES

Manufacture of rubber tyres, tubes and rubber products.

1984: Products were launched. The company received a letter of intent for the manufacture of 3 lakh nos. each tyres and tubes of cars, jeeps, LCV's and animal drawn vehicles. The company also undertook to expand its annual installed capacity from 6 lakh nos to 7.5 lakh nos. each of
tyres and tubes for two and three wheelers.

1985-86: Letter of intent was received for the manufacture 600000 nos. of automotive tyres and tubes per annum.

1986-87: The company undertook to implement a project for manufacture of 4 wheeler tyre and tubes for Maruti and Ambassador cars.

1987-88: The company launched its 4 wheeler tyres and tubes over all the country. The company converted the letter of intent for the manufacture of 6 lakh nos. of automotive tyres and tubes to an industrial licence.

1989-90: The company undertook an expansion programme at a cost of Rs.560 lakhs in connection with the project for the manufacture of automotive tyres and tubes. During October 1989 the company offered 171518 -12.5% secured fully convertible debentures of Rs.120 each. Out of these 163350 debentures were offered on a right basis to the existing shareholders. Additional 16333 debentures were allotted to shareholders in order to retain oversubscription. Each debenture of the face value of Rs.120 was converted into 10 equity shares of Rs.10 each at a premium of Rs.2 per share on the expiry of 6 months from the date of allotment of debentures.

1991-92: The company proposed to issue rights equity shares in the ratio of 1:2.

2001
- ICRA has also assigned the MAA- rating to the Rs 6-crore NCD programme of TVS Srichakra Ltd (TSL) indicating high safety.

2003
-Mr W P A R Nagarajan one of the Board of Directors of TVS Srichakra Ltd passed away

2004

-TVS Srichakra gets CII's awards in safety, health and environment

2007

- TVS Srichakra Ltd has appointed Mr. P K Sundaresan as President - Finance & Secretary of the Company, with effect from 30.4.2007.

2009

- Tvs Srichakra Ltd has appointed Mr. H Janardana Iyer as Director of the Company with effect from September 25, 2009.
 
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