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Universal Cables Ltd. Company History and Annual Growth Details

YEAR EVENTS
1945 - The Company was Incorporated on 6th March, at Calcutta. The
company manufacture and deal in wires, cables and lines of all
kinds including A.C.S.R. and all-aluminium and copper
conductors, etc.

- 91,800 shares taken up by Directors, etc. 2,58,200 shares offered
to public. 275 shares forfeited.

1961 - The name of the company was changed from Hindustan Woollen Mills,
Ltd., to Universal Cables, Ltd., effective from 15th May.

1977 - 4,79,808 right shares issued at par in prop. 19:50.

1979 - Forfeiture on 40 shares annulled during 1978-79 and on another 40
shares in 1979-80. 8,67,824 bonus shares issued in prop. 1:2 in
July 1979.

1983 - The imported plant for the manufacture of cross-linked
polyethylene compounds was received and it was under
installation.

- The Company proposed to manufacture high-performance speciality
cables for aerospace, electronics, telecommunications,
transportation oil exploration and defence industries.

- A letter of intent was received from the Government of India for
production of irradiated heat shrinkable products and irradiated
heat trace cable.

- The Company's technical collaboration with General Electric
Company of USA for the manufacture of capacitors expired during
the year.

1984 - The Company signed a collaboration agreement with General
Electric, USA, for the manufacture of capacitors with superior
quality non-toxic impregnant.

1987 - 27,34,280 shares issued (prem. Rs 25 per share); 26,04,077 shares
as rights in prop. 1:1 and 1,30,203 shares to employees under
Stock Option Scheme. (All were taken up).

1990 - Development efforts were afoot for the manufacture of new
products, such as, CATV cable, cables for telephone switching
systems, LAN for computers and aerial bunched cables.

- The Company incurred a capital expenditure of Rs 7.24 crores for
expansion, manufacture of new products and updating of
technology. New products such as water-cooled DC high voltage
reactor cable, Geo-phone, Tethar cable etc, were being developed.

1991 - The Company also issued another 7,00,000-14% redeemable
non-convertible debentures of Rs 100 each to financial
institutions on private placement basis. These are to be
redeemed premium of 5% in three yearly instalments commencing
from 28th October, 1996.

1992 - With the help of R&D, it was proposed to develop special cables
for elevators, electronic equipment etc.

- The Company along with Vindhya Telelinks Ltd., and Ericosson
Cables AB of Sweden, promoted a new company viz., Birla Ericsson
Optical Ltd., for the manufacture of fibre optic cables.

1993 - Several new products were developed for defence production and
electronic equipment.

- 1,00,000-15% redeemable non-convertible debentures of Rs 100 each
were privately placed with UTI. These debentures are redeemable
at par by August 1st.

- The financial institutions were allotted 1,50,000-15% redeemable
non-convertible debentures worth Rs 1.50 crores. These
debentures are redeemable at 5% premium on the expiry of 7th year
from 21.8.1986.

- The Company issued 26,69,179 No. of equity shares of Rs 10 each
for cash at a premium of Rs 75 per share on Rights basis in the
proportion 1:2 (only 26,67,879 shares taken up).

- Another 1,33,459 No. of equity shares at a premium of Rs 75 per
shares were also issued to the employees on an equitable basis
(only 11,650 shares taken up).

- During September, 2,818 Rights equity shares part of 1988 issue
were forfeited for non-payment of calls.

1994 - The Company entered into a joint venture agreement with the
world-renowned multinational power equipment company ASEA BROWN
BOVERI (ABB) to set up a new company viz. 'Universal-ABB Power
Cables Ltd.' for the manufacture of High Voltage Cross linked
Polythene insulated power cables.

- 80,15,489 bonus shares issued in prop. 1:1.

1997 - The Company received a letter of intent for the manufacture of
cross-linked polytheylene (XLP) compounds.

2002- Universal Cables Ltd has informed that M A Alagappan a Director of the company has resigned from the Board of Directors of the company w.e.f January 30, 2002.

2006

-Shri. Jagdish Chandra Sharma has been appointed as a Director of the Company by the Board of Directors w. e. f. October 27, 2006.

2007

-Universal Cables Ltd has appointed Shri. Dinesh Chanda as a Director of the Company by the Board of Directors w.e.f. May 23, 2007.

 
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