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Kirloskar Industries Ltd. Company History and Annual Growth Details

YEAR EVENTS
1978 - The Company was incorporated as a private limited company on 13th
June, as a wholly owned subsidiary of K.G. Khosla Compressors,
Ltd. The company became a public limited company on 9th October
1980.

- The manufacturing activities of the company are carried out at
its two units at Ambad Industrial Estate, Nasik in Maharashtra.
One of the units of the company is a 100% export oriented unit
which is designated as Khosla Compressors International and the
other caters to the domestic market. The company also holds an
arrangement of marketing assistance with K.G. Khosla Compressors,
Ltd.

- The company's objects is to manufacture air compressors, gas
compressors, accessories and diesel generating sets.

1985 - Land and buildings of the Company were revalued as on 31st May.

1986 - 4,95,000 No. of equity shares issued as bonus shares on 8.5.1985
in prop. 1:1, 2,60,000 shares issued as rights in 1985-86. All
shares held by K.G. Khosla Compressors, Ltd. 50,000 - 11% pref.
shares of Rs.100 each were redeemed on 30.1.1987.

1987 - 3,00,000 No. of equity shares issued at a prem. of Rs.20 per
share out of which the following shares were reserved for pref.
allotment:

- (1) 15,000 shares to the employees (including Indian working
directors)/workers of the company (only 3,200 shares taken up)
and 30,000 shares to UTI (all were taken up). The balance
2,55,000 shares, along with the unsubscribed portion of 11,800
shares out of the employees quota, were offered for public
subscription during February 1988. Additional 30,000 shares
were allotted to the public to retain over subscription.

1988 - Simultaneously, with the public issue of equity shares in
February, the company offered 1,10,000 - 14% secured redeemable
convertible debentures of Rs.250 each of which the following
debentures were reserved for preferential allotment:

- (i) 5,500 debentures to the employees of the company (only 30
debentures taken up and

- (ii) 11,000 debentures to UTI (all were taken up). The remaining
93,500 debentures along with the unsubscribed 5,470 debentures
belonging to the employees quota were offered for public
subscription. 11,000 additional debentures were allotted to
retain over-subscription.

- A portion of Rs.150 of each debenture of Rs.250 was to be
automatically and compulsorily converted into 5 equity shares of
Rs.10 each at a prem. of Rs.20 per shares on expiry of 6 months
from the date of allotment of the debentures. The non-
convertible portion of Rs.100 of each debenture would be redeemed
at par in 4 yearly instalments of Rs.25 each at the end of the
7th, 8th, 9th and 10th year from the date of allotment of the
debentures.

- Kirloskar Kisan Equipment Ltd. is a subsidiary of the company.

1993 - The Company along with Deutz Motor Industriemotoren GmbH, Germany
(DMI) set up a pvt. Ltd. Company viz. Kirloskar Deutz sales and
services Pvt. Ltd., with equity participation. The company
commenced its operation was coordinating the activities of
exports of F2L912/913 engines manufactured by the company.

1994 - In terms of the revival scheme sanctioned by BIFR, Kirloskar Oil
Engines, Ltd. (KOEL) was merged with Prashant Khosla Pneumatics
Ltd. (PKPL) effective 1st April and the amalgamation was to
become effective from 1st March 1996, being the date of issue of
new certificate of incorporation by Registrar of Companies,
Maharashtra in the changed name of Kirloskar Oil Engines Ltd. As
per this, the issued and subscribed Capital shall stand reduced
from 21,85,000 shares of Rs.10 each to Rs.10,92,500 divided into
21,85,000 No. of equity shares of Rs.0.50 each. Forwith upon
such reduction, the aforesaid 21,85,000 No. of equity shares of
Rs.0.50 each would be consolidated and divided in such a manner
that 20 such shares of Rs.0.50 each shall constitute 1 equity
share of Rs.10 each.

- Equity shareholder of KOEL would be allotted equity shares in the
prop. of 1 equity share of face value of Rs.10 each for every
equity share of Rs.10 each held by them in KOEL. Similarly
preference shareholders were to be allotted 9,55,000 - 11%
redeemable preference shares in the prop. 1 preference share of
Rs.10 each for every preference share of Rs.10 each held by them
in KOEL. The name of the company was changed to Kirloskar Oil
Engines Ltd.

1995 - Approval from Government was received for setting up a project at
Ambad, District Nasik in Maharashtra for the manufacture of 300
units per annum of heavy duty large diesel generating sets. In
this connection, a technical collaboration agreement was entered
into with M.A.N.B & W Diesel GmbH, West Germany.

- The Company undertook to set up a power house for generation of
electricity at Munirabad, Raichur district of Karnataka. The
power generated was to be consumed in the state of Karnataka on
the terms to be mutually agreed upon with KSEB or other parties
to whom electricity was to be sold. Kirloskar Pielstick diesel
generating sets would be used to generate power. The capacity
of the plant was 9 MW.

- 4,75,000 No. of equity shares of Rs.10 each issued to ICICI at a
prem. of Rs.110 per share as per BIFR stipulation.

2000 - Crisil has upgraded the ratings assigned to the company Rs.
1.4-crore and Rs 6.62-crore non-convertible debenture issues to
`A-' from `BBB'.

- The Board has appointed Mr. Sanjay C. Kirloskar as Director and
Vice-Chairman.

- Kirloskar Oil Engines is existing the 50:50 joint venture with
Deutz of Germany.

- The Company has expanded its board to 15 from the existing 10.

- The Company has bagged the Automotive Components Manufacturers
Association Quality Award for 1999-2000.

- Kirloskar Oil Engines Ltd. has been named the country's best automotive
components manufacturer by the Automotive Components Manufacturers
Association (ACMA) for 1999-2000.

- The Company has launched its `Gen Power 2000 Project' in Guwahati in
collaboration with Assam Allied Industries.

2001 - Kirloskar Oil Engines has launched a new range of ready-to-use gensets.

- The Company has informed that it has acquired 23.82 per cent of shares from Kirloskar
Oil Engines Ltd.

2002

-Takes the entire stake held by Chatterji Group in Kirloskar Systems for Rs.40 cr.

-Board approves in principle, the proposal of merger of Kirloskar Power Supply company Ltd with the company.

2003

-Becomes the first company in the country to achieve compliance with the Central Pollution control Board's mass emission and smoke norms.

-Board approves for the allotment of shares to Erstwhile Kirloskar Power Supply company Ltd in terms of the scheme of amalgamation, subsequently it approves for the buyback of 40,00,000 equity shares which do not exceed maximum amount of 10% of the aggregate of the company's tota paid up capital.

-Approve the proposal of delisting of the equity shares of the company from Pune stock exchange by passing special resolution.

-Better Value Holding Pvt Ltd acquires 4,41,239 shares amounting to 2.27% od the total paid up capital of the company.

-Declares 'SLK Birth Centenary Year Special Interim Dividend' @ 50% on the equity shares of the Company for the year 2003-2004

2005
-Company has splits its Face value of Shares from Rs 10 to Rs 2

2007

-Kirloskar Oil Engines Ltd. has informed that the Company's Registrars and Share Transfer agent viz. Intime Spectrum Registry Limited has shifted operations in respect of the Company from its Mumbai office to Pune branch, at the following address: Intime Spectrum Registry Limited, Block No. 202, Akshay Complex, Off Dhole Patil Road, Near Ganesh Temple, Pune -411001.

-The Company has issued Bonus Shares in the Ratio of 1:1.

2009

- Kirloskar Oil Engines Ltd has appointed Mr. A N Alawani as additional director (Independent Director) with effect from January 21, 2009.

2010

- Kirloskar Oil - MoU with AVEC.

-Company has changed its name from Kirloskar Oil Engines Ltd. to Kirloskar Industries Ltd.

- The Scheme of Arrangement between Kirloskar Oil Engines Ltd and Kirloskar Engines India Ltd, as approved by the Hon'ble High Court of Judicature at Mumbai, the name of Kirloskar Oil Engines Ltd has been changed to Kirloskar Industries Ltd.

- Mr. Nihal G. Kulkarni is appointed as the Managing Director of the Company.

-Registered Office of the Company has been shifted To 13A, Karve Road, Kothrud, Pune 411038

2011

- The Board has recommended a Dividend of Rs. 2.50 (25%) per equity share of Rs. 10/- each.

- Kirloskar Industries Ltd has informed BSE that M/s. G. D. Apte & Co., Chartered Accountants, had been appointed as Statutory Auditors of the Company.

2012

- Board has recommended a Dividend of Rs 4/- (40%) per equity shares of Rs 10/- each.

2013

- Board has recommended a Dividend of Rs. 4/- (40%) per equity share of Rs. 10/- each.

2014

- Board has recommended a Dividend of Rs. 4/- (40%) per equity share of Rs. 10/- each

2021
-Kirloskar group launches new brand logo, 'Limitless' business vision.

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