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Falcon Tyres Ltd. Company History and Annual Growth Details

YEAR EVENTS
1973 - The company was incorporated on 29th November, at Bangalore. The
company was promoted by H.D. Shetty, K.B. Alva, D.A. Shah, S.
Ananthapadmanabhan, B.T.R. Punja and C.J. Pinto. The main object
of company Manufacture of tyres and tubes for scooters,
motorcycles and mopeds and various types of industrial `V' belts.

1975 - 3,00,000 shares issued at par to the public during February.

1979 - The company undertook to expand the plant capacity to one tyres
and one million tubes.

- The company revalued it buildings and plant and machinery as on
1st July, and the surplus of Rs. 9,46,492 arising out of it was
credited to capital reserves.

1980 - 1,00,000 rights shares issued at par in prop. 1:5 during 1978-79.

1981 - 4,00,000 right shares issued at par in prop. 2:3 in Dec. 1980.
533 shares pending allotment.

1982 - 16,892 shares forfeited. Authorised capital reclassified.

1984 - In spite of increase in wages and higher incidence of interest,
results showed improvement over the previous year.

- Forfeiture on 16,892 No. of equity shares annulled.

1986 - 5,00,000 shares issued at par as rights in prop. 1:2 in March.
Another 25,000 shares were offered at par to employees. In all,
only 66,859 shares taken up. The balance 4,58,141 shares
allotted privately.

1987 - The company embarked upon a project for the manufacture of Butyl
Rubber Tubes. The manufacture of the full range of Butyl tubes
including those required for 4 wheeler, was expected to commence
by about March, 1990.

1988 - Both production and sales improved and operating losses got
reduced.

- As a result of accumulated losses, the provisions of the Sick
Industrial Companies (Special Provisions) Act, 1985 became
applicable to the company.

- In November, 15,25,000 shares issued at par as rights in prop.
1:1. Only 11,69,143 shares taken up. The balance 3,55,857
shares allotted privatley. Another 76,250 shares offered at par
to employees but only 3,000 shares taken up.

1990 - A rehabilitation scheme as approved by BIFR was under
implementation.

1993 - During the year, Company has submitted an application to remove
its name from the list of sick companies under BIFR.

1994 - The company was able to wipe of its brought forward losses and
the turnover increased by 37%. It remained no more a sick
company.

- 73,250 shares from the previous issue allotted.

1995 - During the year, fifteen new and improved tyre designs including
those for the latest models of Bajaj and TVS Suzuki, Escorts,
Yamaha and Kinetic Honda were introduced.

- During the year, the company undertook modernisation and
expansion programme to double its production in the ensuing year.

2000 - Mather & Platt (I) Ltd. propose to acquire the 619337 shares and
Harshit Finlease & Investments Ltd. propose to acquire 400000
shares, constitutes 13.21% and 8.53% respectively, of the equity
share capital of the company at Rs.24/- per share from Dunlop
India Ltd.

2008

- Falcon Tyres Ltd has informed that Mr. Umesh Bhargava has been appointed as Managing Director of the Company with effect from July 30, 2008.

-Falcon Tyres Ltd has appointed Mr. Sunil Bhansali as an Additional Director of the Company w.e.f. September 30, 2008.

2009

- Falcon Tyres Ltd has informed that Mr. Prakash P Mallya was appointed as Additional Director of the Company w.e.f. August 01, 2009.

-Falcon Tyres has given the Bonus in the Ratio of 2:1

-Company has splits its Face value of Shares from Rs 10 to Rs 5

2010

- Falcon Tyres Ltd has appointed Mr. Vijay Vaid as Additional Director of the Company w.e.f. August 14, 2010.

2011

- The Company has acquired 100% shares of M/s. Chamndi Plasto Sacks Private Limited pursuant to which, the M/s. Chamundi Plasto Sacks Private Limited become subsidiary of the the Company.

2012

- The Board has appointed Mr. S. Badrinarayanan as an Additional Director of the Company.

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