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Wheels India Ltd. Company History and Annual Growth Details

YEAR EVENTS
1960 - The Company entered into a technical aid agreement with Dunlop
Rim & Wheel Co. Ltd., (now a division of Dunlop Ltd., U.K.), on
27th June, for the supply of technical know-how for a period of
20 years for the manufacture of wheels.

1961 - The Company was incorporated on 28th March at Tamilnadu. The
main objects of the company are to manufacture wheels and rims,
components and accessories thereof and to carry on the business
of iron and steel foundres and foundres of non-ferrous metals.

1974 - 30,225 shares issued without payment in cash and 42,321 shares
issued as bonus. 54,567 shares held by T.V. Sundaram Iyengar &
Sons, Ltd., 24,807 shares by Southern Roadways, Ltd., 17,181
shares by Sundaram Finances, Ltd., and 7,87,660 shares by Dunlop
Holdings, Ltd., U.K.

1975 - Shares of Rs.100 each subdivided into shares of Rs.10 each.
4,40,000 shares offered to the public at prem. of Rs.1.50 per
share during June.

1978 - 250 shares forfeited. These shares were re-allotted to certain
existing shareholders.

1981 - The Company received a letter of intent for the manufacture of
air suspension system for commercial vehicles. The company
entered into a technical agreement with Dunlop Rim & Wheel Co.
Ltd., in U.K.

- 10,96,605 Bonus shares issued in prop. 1:2.

1983 - The Company received a letter of intent for setting up a second
wheel manufacturing unit at Rampur, U.P. with a capacity of
6,00,000 wheels per annum.

1984 - The Company issued 3,00,000-15% secured non-convertible
debentures of Rs.100 each as rights to the existing shareholders
for working capital requirements.

1987 - The Company issued 2,00,000-15% secured non-convertible
debentures of Rs.100 each to the financial institutions on
private placement basis.

- The objects of the public issue of capital in June were to reduce
the foreign shareholding in the Company and to raise a part of
the resources required for the expansion project. These
debentures will be redeemed in 5 equal instalments on the expiry
of 6th, 7th, 8th and 9th year from the date of allotment, i.e.,
15th April.

- The Company was a joint venture of T.V. Sundaram Iyengar & Sons
Ltd., Madurai and Dunlop Ltd., U.K.

- Dunlop Holdings Ltd., U.K., hold 17,72,235 shares in the Company
representing about 35.91% of the paid-up capital of the Company.

1988 - 16,44,907 bonus equity shares issued in prop. 1:2.

1991 - 3,00,000-15% secured non-convertible debentures of Rs.100 each
were redeemed in full at a premium of 5% on 7th August.

1997


1998

-Icra has assigned A1+ and A1 ratings to the proposed commercial paper issue of two TVS group companies

1999

-TITAN Europe Ltd a subsidiary of Titan Wheel International Inc USA replaces BTR Plc as the new foreign collaborator

2000 - ICRA has assigned an 'A+' rating to the enhanced commercial paper
programme of Rs 40 crores of the company.

- Mr. Srivats Ram has been appointed Director of the company effective
October 1.

2002

-Co-opted Mr. T K Seshadri, Advocate as Non Executive, Independent Additional Director

- T S Santhanam, Chairman has resigned from the Board w.e.f. October 30, 2002. and
Mr. S Ram was elected unanimously as the Chairman of the BOD by the Board
 
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