Castrol India

1919
 
 - The Indian branch of Castrol commenced it activities in 1919 and
 operated through four regional offices at Mumbai, Calcutta, Delhi
 and
 Chennai.
 
 1944
 
 - The name was changed to Castrol Ltd.  In 1966, Castrol became a
 part
 of the Burmah Group.
 
 1981
 
 - During the year as per the scheme of Amalgamation sanctioned by
 the
 Mumbai High Court, the Indian Marketing and Business of Castrol was
 amalgamated with Indrol Lubricants & Specialities Ltd.  As per the
 Scheme, Castrol voluntarily agreed to hold 40% equity capital in the
 company.  As a part of the consideration for the transfer of
 business
 and undertaking in India, Castrol was allotted 6,00,000 No. of
 equity
 shares of 10 each without payment in cash.
 
 - The balance consideration of Rs 95.27 lakh was retained with the
 company as interest-free loan from Castrol.  This amount was to be
 repaid in the three equal annual installments.
 
 - As a result of acquisition of equity shares of Foseco Plc. by
 Burmah
 Castrol Plc in U.K., the undertakings in India in which Foseco plc
 have
 an investment interest, it became inter-connected with the Company
 under MRTP Act, 1969 and the Company came within the purview of
 Part-A
 of Chapter III of the MRTP Act.
     
 - On 9th June, the company entered into a registered user agreement
 to
 use Castrol's trade mark which were used by Indian branch of
 Castrol.
 This agreement is valid a period of years from the date of
 amalgamation
 or so long as Castrol holds 30% or more of the equity share capital
 of
 the company, which ever is later.
 
 1982
 
 - The company was incorporated on 10th December under the name of
 Indrol Lubricants & Specialities Ltd.
 
 - In June, the first Phase of lube oil refining plant was
 commissioned.
 
 - During the year the company set up a modern blending plant and
 brake
 fluid plant at Patalganga.  The brake fluid plant and the lube oil
 blending plant were commissioned in February and March 1985
 respectively.
 
 1983
 
 - In March 9,00,000 equity shares issued at a premium of Rs.9 per
 share, of which 75,000 shares to employees and Indian directors of
 the
 company, 75,000 shares to business associates, 30,000 shares to LIC
 and
 30,000 shares to UTI were reserved and allotted.  The balance of
 6,90,000 shares offered to the public.
 
 1985
 
 - 1,50,000 rights shares issued (prem. Rs 10 per share; prop. 5:50)
 linked to debs. in August.  In June 1986, 8,93,800 shares issued
 (prem.
 Rs 40 per share) (8,25,000 shares as rights in prop. 1:2, 41,300
 shares
 to employees/workers of the Company; and 27,500 shares to Castrol,
 Ltd.).
 
 1986
 
 
 - On 27th June the second Phase of lube oil refining plant was
 commissioned.
 
 - 25,43,800 bonus shares allotted on 21.3.1987 (prop. 1:1).
 
 1987
 
 - As a measure of diversification, the Company formed a subsidiary
 Company under the name of Indtech Speciality Chemicals, Ltd. for the
 manufacture of Telephone cable jellies, pharmaceuticals jellies and
 industrial waxes in technical collaboration with Dussek Campbell,
 U.K.
 
 1988
 
 - During August/September, the company offered 14% - 6,10,520
 secured
 redeemable convertible debentures of Rs.150 each to the existing
 shareholders (Except Castrol Ltd. UK) on right basis in the ratio of
 1
 debenture for every five equity shares held.  Additional 30,526
 debentures were reserved for subscription by employees/Indian
 Working
 Directors/workers of the company.  All the debentures were taken up.
 
 - As per the terms of the debentures issue, Part `A' of Rs 50 each
 of
 the debenture will be automatically and compulsorily converted into
 one
 fully paid up equity share of Rs 10 each at a premium of Rs 40 per
 share on the expiry of six months from the date of allotment of the
 debenture.
 
 - Part `B' of the non-convertible portion of Rs 100 of each
 debenture
 would be redeemed at par at the end of 7th year from the date of
 allotment thereof.
 
 1989
 
 - On 15th March company offered and allotted 4,27,430 No. of equity
 shares of Rs. 10 each at a premium of Rs. 40 per share to Castrol
 Ltd.
 UK to maintain their equity share capital after conversion of the
 debentures into equity shares.
 
 1990
 
 - With effect from 1st November, the name of the company was changed
 from Indrol Lubricants & Specialities Ltd. to Castrol India Ltd.
 
 - 36,93,645 bonus shares issued prop. 3:5 in December.
 
 1992
 
 - With effect from 1st January, Indtch Speciality Chemicals the
 subsidiary was merged with Castrol India Ltd.
 
 - 59,09,832 bonus equity shares issued in prop. 3:5.
 
 1993
 
 - 35,37,862 No. of equity shares of Rs 10 each allotted to Castrol
 Ltd.
 U.K. at a premium of Rs 100 each.
 
 1994
 
 - Company set up a new plant in Silvassa, Union Territory of
 Dadra/Nagar Haveli at a cost of Rs.50 crores.  The new plant was to
 incorporate the state-of-art technology for lubricant blending.
 
 - 192,97,415 bonus equity shares issued in prop. 1:1 on 27th May.
 
 1995
 
 - Castrol India Limited, has plans to introduce a wide range of
 futuristic lubes which will help it maintain its position as the
 market
 leader.  While the company has a wide marketing network consisting
 of
 120 depots and 12,000 dealer outlets, the company is installing a
 satellite linked management information system (MIS), connecting the
 vast network.
       
 - Castrol was the first oil in the lubricant sector to obtain the
 ISO
 9002 certification.  It has also introduced Tractormax and RX Super
 Plus for the diesel engines.  Its R&D wing at Wadala in Mumbai is
 engaged in the innovation and modification of existing range of
 products as well as productive new versions.
       
 - During the year Castrol India, has signed an agreement with
 Hindustan
 Powerplus as sole supplier of lubricants for Caterpillar engines. 
 With
 the proper usage of new Castrol RX Super Plus and with regular
 filter
 change and maintenance, the engine life is expected to be 20,000
 hour
 plus.  Castrol RX Super Plus is a new generation diesel engine oil
 exceeding the highest 4 stroke diesel engine lubricant service class
 requirements- API CF4.  The product also confirms to AP1 SG service
 class requirements for 4 stroke petrol engine oils.
 
 - During the year Castrol India has launched two stroke engine oils
 -
 Jett X and Super TT.  Both exceed the Japanese Automobile Standards
 Organisation (JAPO) specifications.
 
 - 231,56,898 bonus equity shares issued in prop. 3:5.
 
 1997
 
 - Maruti Udyog, India's largest car producer has signed an agreement
 with Castrol to sell high performance Castrol products, through its
 dealer outlets and authorised service stations.
 
 - The leader in the private sector, Castrol India (CIL) is
 well-known
 for its product quality, distribution network and after-sales
 service.
 It recently expanded its blending capacity by 1,80,000 kl.
 
 1998
 
 - With effect from 15th January, Consequent upon the Securities and
 Exchange Board of India (SEBI) making dematerialisation of shares
 compulsory for Foreign Institutional Investors (FIIs), Financial
 Institutions (FIs) etc., the Company was required to sign an
 Agreement
 with the National Securities Depository Limited (NSDL) as it had
 shareholders who were compulsorily required to dematerialise their
 shareholdings in the Company.  The Company has appointed Sharepro
 Services to act as an agent for interface with NSDL.
 
 - Castrol India bags QS 9000 certification Castrol India, which
 already
 has ISO 9002 certification, has become the first lubricant company
 in
 Asia-Pacific to get QS 9000 certification, which is possibly the
 most
 rigorous quality system standard for suppliers to the automotive
 industry worldwide.
 
 1999
 
 
 - Castrol's performance seems to be losing momentum which in turn
 will
 put the Castrol share price on alert While the 1:1 bonus issue from
 Castrol has cheered the market there seems little scope for further
 upsides in the Castrol share price, based on fundamentals.  
 
 - Castrol India Ltd, has improved its market share from 18 per cent
 to
 20 per cent of its oil and lubricants during the year 1998 and is
 likely to improve its market share further during the current year.
 
 - Authorised capital reclassified.  617,51,728 bonus shares
 allotted.
 
 2000
 
 - Castrol India Ltd has announced the launch of Castrol Active 4T,
 an
 engine oil for 4 stroke bikes.
 
 - Castrol introduced GTX Magnetic for passenger cars, accompanied
 with
 a print campaign that stresses the molecular attraction of the
 lubricant, allowing it to stick to engine parts, even when it is
 switched off.
 
 - TELCO and LML have tied up with Castrol India Ltd (CIL), marketer
 of
 specialised lubricants and lubrication services, for sourcing
 customised lubricants for various vehicles manufactured by these
 companies.
 
 - The company has entered into strategic alliances with several
 automotive and industrial majors with a view to developing a
 customise
 products and services for the Indian market.
 
 - Castrol India and Tata Engineering signed two agreements for the
 supply of specially formulated lubricants for Tata commercial
 vehicles
 and for use of motor oils for Indica passenger car.
 
 - Castrol has launched a web site dedicated to motor sports,
 `www.castrolbikeworld.net'.
 
 - Ram Savoor, chief executive and managing director of Castrol
 India,
 has been appointed as business unit head for global major BP Amoco's
 operations in India, Middle East and South Asia.
 
 - In Wadala Plant the manufacturing has become an unviable activity
 due
 to restrictive space and lay-out, coastal regulations zones/rules
 restricting constructions and several other operations hazards.
 
 - The Company has signed up with the Chennai-based Rane Engine
 Valves
 Ltd. for total supply of its lubricant requirements.
 
 - The Company has stopped commercial production at its Wadala Plant
 with effect from 1st July,
 
 - The year 2000 was a difficult year for the transport industry and,
 as
 a consequence, the automotive lube market is estimated to have
 declined
 by around 6%. This decline was mainly driven by an increase in lube
 and
 diesel prices which squeezed margins in the road transport industry.
 There was also a move towards `floor' sales tax rates for several
 products including lubes which translates to a higher selling price.
 The rationalisation of sales tax attempted to equalise sales tax
 across
 the country resulted in a decline in road freight movement. Together
 with this, the drought condition prevailing in certain parts of the
 country affected the demand for diesel engine oil in the
 agricultural
 segment.
 
 2001
 
 - Castrol India has launched `Castrol call-for-a-can' whereby
 Castrol
 products including motorcycle, scooter and car engine oils, coolants
 and brake fluids will be available to customers over phone.
 
 - Castrol India has closed down its manufacturing facility at
 Hoskote
 in Karnataka.
 
 -Tata BP Lubricants India Ltd has been amalgamated into Castrol
 India
 Ltd (CIL), following Tata group’s decision to exit the lubricants
 business.
 
 - Castrol India Ltd has posted a net profit of Rs 22.23 crore for
 the
 quarter ended September 30, 2001 as compared to Rs 28.17 crore for
 the
 same quarter last year.
 
 - During the year 2001, Castrol, UK acquired a 20% stake in the
 company
 vide an open offer made to the shareholders of CIL, thereby
 increasing
 its stake from 51% to 71%.
 
 2002
 
 -Appoints Naveen Kshatriya as new MD & CEO.
 
 -Announces change in the management structure and  still continue its
 focus on
  lubricants and allied services.
 
 -Aspi Modi has been appointed as company secretary.
 
 -Launches CRB Turbo special oil for new generation turbocharged
 vehicles.
 
 -Mr. Uswin Desousa,Mr.Roger Elston-Green and Mr Ravindra Pisharody
 appointed as wholetime directors.
 
 -Shifted four of its offices to Andheri.
 
 -Alastair Ferguson has been nominated as director of castrol India.
 
 -Launched a slew of integrated marketing plans.
 
 
 2003
 
 -Castrol India has entered into motorcycle servicing business with
 the launch of  'PrimaZona' brand of franchisee workshop.
 
 -Restructured its sales and marketing force. It has set up 3 groups
 including retail specialists, workshop specialists and institutional
 specialists.
 
 -Castrol India has posted a net profit of 408.6million for quarter
 June 30,2003 and declared a dividend Rs 4.00 per equity share for
 december 2003.
 
 ---Baged tenth slot among `Top 10' in Asiamoney's corporate
 governance poll on Asian companies in the energy sector. And joined
 the club of a select few Asian companies.
 
 2004
 
 -Castrol India Ltd has said that Mr Philip J. Hughes was nominated by
 Castrol Ltd UK with effect from January 9, as a director of the
 company in the place of Mr D. Hulf. On Mr Hulf ceasing to be a
 director, his alternate Mr K. Warnett also ceased to be a director.
 Further, from the said date, Castrol Ltd UK has also nominated Mr L.
 Freese as an alternate director to Mr P. Hughes.
 
 - Castrol India in pact with Mahindra Tractors
 
 -Castrol India's managing director Naveen Kshatriya has been
 appointed regional vice president of parent BP's transcontinental
 lubricant business
 
 -Castrol India, the Indian arm of the BP group, has become a global
 hub for supplying marketing professionals to the group
 
 -Escorts has announced a tie-up with Castrol India for exclusive
 supply of engine oils for service refill as well as after market
 sales
 
 -Castrol India rolls out BikeZone in Bangalore