|The Company was incorporated on 25.08.1977 as a private limited Company in the name of Menon Pistons Private Limited in the state of Maharashtra. Due to the increase in turnover of the Company, the Company became a deemed public company on 15.06.1988 and the name of the Company was changed to Menon Pistons Ltd on 25th June, 1988 and on 10/11/1994 the Company was converted into a full fledged public company vide Special Resolution passed on 10th November, 1994.
The Company, promoted by Mr.Ram Menon and Late Mr.Chandran Menon, was incorporated in 1977 and has been manufacturing pistons for more than 13 years and has been consistently making profits. The Company initially catered to the need of small diesel engine manufacturers. Subsequently the company started supplying the high value added pistons required by the automobile industry and diesel engine sector but selected segment of heavy duty industrial pistons since the existing big piston manufacturers were not interested in this field due to a small number of
pistons required. Later on the company added to its production lines pistons required for cars, LCVs/HCVs. Now major customers include Kirloskar Cummins Ltd., TELCO Ltd. Bharat Earth Movers Ltd.. Maruti Udyog Ltd., Mahindra & Mahindra Ltd., Escorts Ltd., Eicher Tractors Ltd., etc. Besides aluminium alloy pistons, it manufactures piston
rings and pins for various automobile and industrial engine applications.
The Company has got ISO 9002 certification and also the SHIP-TO USE Certification from Kirloskar Cummins Ltd. for whom Menon Pistons is the sole supplier. This vouches for the quality capability of Menon Pistons.
Menon Pistons is the only Company among the top leading piston manufacturers in India who has developed indigenously the piston making technology and it has developed its own inherent strengths in the design and manufacture of any kind of pistons. This enables the company to face any kind of problems that may arise in the process of piston making and to tackle it confidently. The reputation the Company enjoys in the market and the list of prestigious customers it caters to is an ample indication of its technological capabilities and quality standards.
The Company has over the years developed a countrywide market divided into four zones headed by the Regional Managers located in the four metropolitan cities under the supervision of Associate Vice President-Marketing based in New Delhi.
Further, the Company has its representatives in each of the states and a wide Dealer Net Work. Among its dealers are reputed business houses such as T.V. Sundaram Iyengar & Sons, Sundaram Motors, Chandok Auto Industries etc.
The Company has got a pre-eminent position in the heavy duty segment and it has got 100% supply arrangement to such market leaders as Kirloskar Cummins Ltd. and Bharat Earth Movers Ltd. Moreover, it is having an increasing presence in the car piston segment. The market share in the car segment is continuously increasing. Moreover, the car segment is slated to be the fastest growing segment in the near future. The Company has an annual average cumulative growth rate of 22% during the last ten years.
The Company, through Menon Exports, a group firm, is already in the export business for the last 8 years. They export their piston assembly and other engineering goods to erstwhile U.S.S.R., U.K., Germany, Greece, Arabian Gulf, Middle East, Australia, South East Asia and other
countries. They had become the pioneer suppliers for Autolada vehicle in erstwhile U.S.S.R. and supplied 4.0 million pistons for LADA Cars in different types and sizes.
MAIN OBJECTS OF THE COMPANY:
The Main Objects of the Company as set out in the Memorandum of Association include:
To design, develop, make, manufacture, produce, process, fabricate, assemble, alter, repair, manipulate, prepare for market, trade, export, import, purchase, re-purchase, sell, re-sell, hire, let on hire, exchange, contract for, mortgage or otherwise deal in or carry on business in pistons, piston rings, piston pins, piston parts, piston
accessories and components, equipments and articles thereof and thereto.
2002-Vijay Menon/ Parameswaran resign from Directorship of Menon Pistons.
-Company has recommended dividend at the rate of 35% (Rs 3.50/- per share).
-Company has recommended a dividend at the rate of 35% (Rs 3.50 per share).
-Company has recommended 40% Dividend on equity Shares i.e. Rs 4 per share of Rs 10 each.
-Company has recommended dividend at Rs 3/- per share of Rs 10 each fully paid i.e. @ 30%.
-Company has recommended dividend of Rs. 3.5/- (Rupees Three paisa fifty only) per Equity Shares of the company.
-Company has recommended dividend at Rs. 3.5/- (i.e. 35%) per equity share of Rs. 10 each.
-Company has recommended dividend at Rs. 3.50/- (i.e. 35%) per equity share of Rs. 10 each.
-Menon Pistons has recommended dividend at Rs. 2.00/- (i.e. 20%) per equity share of Rs. 10 each.
-Menon Pistons has recommended dividend at Rs. 1.50/- (i.e. 15%) per equity share of Rs. 10 each.