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Lakshmi Precision Screws Ltd. Company History and Annual Growth Details

YEAR EVENTS
1968 - The Company was incorporated on 27th December, in Haryana as a
Private Limited Co. and was converted into a Public Limited Co.
on 20th August 1971. The Company was promoted by B.P. Jain and
Associates. It manufactures cold and hot forged and hexagonal
head screws/bolts, socket, set screws and cold forged nuts. The
products are marketed under the name LPS. The Company also
exports its products.

1969 - 4,000 No. of Equity shares issued to promoters, etc.

1970 - 2,200 No. of Equity shares issued to promoters, etc.

1971 - 5,600 No. of Equity shares issued to promoters, etc.

1973 - 1,000 No. of Equity shares issued to promoters, etc.

1978 - 2,000 No. of Equity shares issued to promoters, etc.

1979 - 3,000 No. of Equity shares issued to promoters, etc.

1980 - Equity shares subdivided into Rs 10 each. 50,000 No. of Equity
shares issued to promoters, etc.

1981 - 1,20,000 No. of Equity shares issued to promoters, etc.

1982 - The Company had taken up an expansion programme for the
manufacture of larger sizes of high tensile bolts and forged nuts
by the installation of 1/2" nut former and 1" boltmaker.

- 3,50,000 Bonus Equity shares issued in prop. 1:1 in November.

1983 - 37,50,000 No. of Equity shares offered at par for public
subscription during October-November.

1984 - All imported equipment and associated machinery were
commissioned.

1989 - Indian Fasteners Limited became a subsidiary of the Company.

- The Company promoted a subsidiary company under the name of
Indian Fasteners Ltd.

1991 - With a view to improving exports, the company proposed to
undertake a modernisation-cum-expansion scheme. With a view to
put further thrust as exports, the Company proposed to set up
another export unit.

1993 - During July-August, the Company issued 21,75,000 rights equity
shares of Rs 10 each at a premium of Rs 20 per share in the prop.
3:2 (all were taken-up).

1994 - 21,75,000 Rights equity shares of Rs. 10 each (Prem. Rs. 20)
issued in propn. 3:2.

1995 - With a view to meet the challenge of an open economy, the Company
proposed to undertake an expansion-cum-modernisation scheme
involving a capital outlay of 1655 lakhs with an installed
capacity of 2700 MT per annum.

1996 - After establishing its presence in the European and American
Market the Company is diversifying its export activities with a
two pronged strategy, firstly to introduce new products in the
existing markets and secondly developing new markets of South
East Asia, Middle East and South Africa.

1997 - Performance of the company was sluggish due to general slowdown
in the economic growth coupled with stiff competition in the
market.

- The Company signed a joint venture agreement with the Bossard
International AG, Switzerland for development of software and
marketing/distribution of new range of fasteners for niche market
of electrical, electronics etc.

- 16,00,000 No. of equity shares allotted at a prem. of Rs. 15.40
per share to promoters and their associate on private basis.

1998 - 8,00,000 equity shares allotted at a prem. of Rs. 9.75 pershare
on conversion of 8 lakh warrants allotted as pref. basis to
promoters of the Company.

- The joint venture Companies LPS Bossard Information Systems Pvt.
Ltd. and LPS Bossard Pvt. Ltd. in which the Company is holding
49% will start its activities in September.

1999 - Lakshmi Precision Screws Ltd (LPS), one of the largest exporters
of high tensile fasteners from India, is exploring possibilities
of exporting its products to newer markets with the objective of
increasing its exports earnings in the coming years.

- Lakshmi Precision Screws (LPS) is a front-runner in the Indian
fastener industry. A name that signifies just about every kind
of fasteners (over 6000 types).

2005
-Lakshmi Precision Screws Ltd Issues Rights in the Ratio of 2:3

2009

- Lakshmi Precision Screws Ltd has informed that Mr. B V Bhargava has been appointed as an Independent Director on the Board of the Company.

2010

-The company has recommended final dividend of10%.

2011
-Mr. Naveen Kakkar has been appointed as Company Secretary and Compliance Officer of the company.
-The company has recommended final dividend of Rs. 1.50 @ 15%.

2013
-The company has recommended final dividend of Rs. 0.80 per share (8%) .

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