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Greaves Cotton
BSE: 501455|NSE: GREAVESCOT|ISIN: INE224A01026|SECTOR: Engines
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Company History - Greaves Cotton
YEAR                       EVENTS
 1922 - The company was incorporated on 29th March, as a Private Ltd.
        company.  It was converted into a Public Limited Company on
        8th May, 1950.
 
      - The main objects of the company is to act as merchants,
 engineers 
        and contractors.  The company has a large number of associated
 
        and subsidiary companies manufacturing various items of 
        electrical and machinery products.  It  also acts as
        concessionaires for a large number of firms in U.K.  The
 company
        manufactures paper cones and tubes for the cotton textile
        industry and diamond drilling bits.
 
      - Equity shares were issued without payment in cash.
 
 1958 - Greaves Dronefield Company was floated in collaboration with
        Dronsfield Brothers Ltd., Oldham for the manufacture of their
        well-known Atals brand emery fillets.  It was registered on
        31st December, and it went into production soon thereafter.
 
 1959 - Mather Greaves Company was registered on 6th August, for the 
        manufacture of calender bowls.
 
 1960 - The company concluded a technical collaboration agreement
 with
        Mandrills Ltd., of Melbourne, Australia for the manufacture of
 
        diamond tools.
 
      - The company was floated in collaboration with David Brown
        Industries Ltd., for the manufacture of Radicon worm
 reduction
        gears and geared motor units and was registered on 6th June. 
        Later, the company was also licensed to manufacture David
 Brown
        marine gear boxes.
 
      - Draton Greaves concern was floated in collaboration with
 Drayton
        Regulator & Instrument Co. Ltd., of Middlesix for the
 manufacture
        of steam traps and regulators and registered on 19th August. 
 
 1963 - After consolidating the manufacture of calender bowls, the 
        company embarked on the production of Schriner calenders,
 stenter
        clips, mangles, printing machines, etc.
 
      - On 22nd April, it became a subsidiary of the company by virtue
 of
        such allotment of 425 shares of Rs. 100 each to the company
 in
        terms of the collaboration agreement.
 
 1965 - Mather Greaves Ltd., undertook the entire marketing of its
        products resulting in the termination of their Sole
        Concessionaires Agreement with Greaves Cotton & Co. Ltd.
 
 1967 - The other subsidiaries are Greaves Leasing & Finance Ltd.,
        Rajpath Investment Ltd.  Cannation Investment Ltd. Greaves
        Midwest Engineering Co. Ltd. and SIDVIM Ag.
 
 1975 - Greaves Lombardini Company in collaboration with Lombardini 
        Motori of Italy promoted Greaves Lombardini Ltd., for the
        manufacture of diesel engines.  Greaves Lombardini Ltd., was
        incorporated on 21st May, under the name and style of Greaves
        Diesels Ltd., and the name was subsequently changed to the
        present one.
 
 1982 - Consumption of emery fillets in the home market during the
 last
        quarter of 1982 and the beginning of 1983 was less due to
        prolonged textile strike in the country.
 
 1983 - 5% tax-free Pref. shares made 13.5% taxable from 1.7.1983.  
        25,000-6% Pref. share redeemed on 31.3.1984.  2,12,625 Bonus
        Equity shares issued in prop. 1:2 on 23.3.1984.
 
 1984 - Greaves Lombardini Ltd., was merged with Greaves Cotton & Co.
        Ltd.
 
 1985 - Consequent upon the purchase by Greaves Cotton & Co. Ltd., of
 50%
        shares held by Dronsfield Brothers Ltd., U.K. Greaves
 Dronsfield
        Ltd., became a wholly owned subsidiary of Greaves Cotton &
 Co.
        Ltd.
 
      - A technical collaboration agreement was entered into with
 David
        Brown Gear Industries, U.K., for the manufacture of hardened
 and
        profile ground helical gear boxes.  Government gave its
 approval.
 
      - 20,265-15% Pref. and 19,250 No. of equity shares allotted
 without
        payment in cash to members of Greaves Lombardini, Ltd. on its
        merger.  These Pref. shares redeemable at 1.7.1996 but before
        15.6.1998 at the company's option.
 
 1988 - 25,000-15% Pref. C shares paid off.  3,28,562 Bonus Equity
 shares
        issued in proportion 1:2.
 
 1989 - To improve exports further, it was proposed to open offices
 in
        the USSR and East Africa.  The works at the Nasik plant
 resorted
        to go-slow and the company was forced to declare a lock-out
 of
        the plant effective from 14th June, 1990.  The lockout was
 lifted 
        on 20th October, 1990.
 
 1990 - During the year, the company introduced Greaves portable
 light
        weight diesel Genset viz., Greaves-GD3000.
 
      - The company entered into an understanding with the Rajasthan
        State Industrial Development and Investment Corporation Ltd.
        (RIICO) for the setting up of a unit at Abu Road in Rajasthan
 for
        manufacture of ABS Resins in collaboration with Technochim
 and
        Plastpererabotka (Russian partners).
 
      - The company undertook to set up a 3-wheeler autorickshaw
        manufacturing unit at Baramati, Maharashtra.
 
      - During the year, the company undertook to increase existing
        capacity of the light weight engines unit at Aurangabad to
 32,500
        units from the existing 22,500 units.
 
      - Greaves Chitram, Ltd., (Chitram) was amalgamated with the    
        Company.  The erstwhile shareholders of Chitram were allotted
        one equity share of Greaves Cotton Co., Ltd., for every 412
        shares held by them in Chitram.
 
 1991 - During the year, the Company had converted the representative
        office at Singapore into a trading office.
 
      - The company proposed to set up a joint venture company with 
        Frabelle Fishing Corporation, Philippines to undertake deep
 sea
        tuna fishing in the exclusive economic zone of the territorial
 
        waters of India.
 
      - Subject to necessary approvals being obtained, Greaves
        Semiconductors Ltd. (GSL), a subsidiary of the company, was
        proposed to be amalgamated with the Company with
 retrospective
        effect from 1st April 1989.
 
      - During April-May, the company offered 32,89,488 - 12.5%
 secured
        fully convertible debentures of Rs. 40 each on Rights basis
 in
        the proportion 1 debenture : 3 equity shares held (all were
 taken
        up): Additional 4,93,341 debentures were allotted to retain
 over
        subscription.
 
      - Simultaneously, another 1,64,475 - 12.5% debentures of Rs. 40
 
        each were issued to employees including Indian working
 directors
        of the Company on an equitable basis (only 75,200 debentures
        taken up).  UN subscribed portion of 89,275 debentures
 allowed
        to lapse.
 
      - Each debenture of Rs. 40 was fully and automatically
 converted
        into one equity share of Rs. 10 each at a premium of Rs. 30
 per
        share after 12 months from the date of allotment of
 debentures.  
        Accordingly, 38,58,029 No. of equity shares were allotted in
 July
        1992.
 
      - 50 No. of equity shares allotted without payment in cash to 
        members of Greaves Chitram Ltd., on its merger.
 
 1992 - The company's operations at Marol was suspended in October
 and
        the land and building had since been disposed of.  The Nashik
        plant was reported to be suffering from lack of profitable
 orders
        from the Government sector.  Efforts were on to diversify the
        product portfolio.
 
      - The power transmission unit II (erstwhile David Brown Greaves
        Ltd.) Falta, W. Bengal was commissioned.
 
      - During November the company offered share on 1,37,14,949 No.
 of
        equity shares of each at a premium of Rs. 70 per rights basis
 in
        the proportion 1:1. (all were taken up).  Another 6,85,747 No.
 of
        equity shares of Rs. 10 each at a premium of Rs. 70 each were
        offered to the employees of the company on an equitable basis
        (only 26000 shares taken up).
 
      - The company offered for sale 26,82,240 No. of equity shares of
 
        Rs. 10 each of Greaves Fosico Ltd. at a premium of Rs. 60 per
        share.
 
      - Rajasthan, Polymers & Resins Ltd., an associate Company
 offered
        on preferential basis 12,68,000 - 14.5% secured redeemable
 partly
        convertible debenture of Rs. 25 each of Rs. 10 of the face
 value
        was to be converted into 1 equity share on allotment of
 debenture
        Rs. 15 was to be redeemed.
 
      - Subject to necessary approvals being obtained, the company
        proposed to issue 1473,81,765 bonus equity shares in
 proportion 
        1:2.
 
      - 28,552 No. of equity shares allotted to shareholders of
 erstwile
        Greaves Ltd., on its amalgamation 19,91,903 No. of equity
 shares
        allotted on amalgamation of Ruston & Honnsberg Ltd. and David
 
        Brown Greaves Ltd. within company.  137,40,949 Rights shares 
        issued to shareholders and employees.
 
 1993 - The company entered into a joint venture agreement with a few
        parties in Singapore for trading in Vietnam and other parts
 of
        the world.  A new company was registered in Singapore in the
 name
        of Pacific Greaves Pte. Ltd.
 
      - It was also proposed to set up a joint venture company with
        overseas consortium partners for installation and developed
 of
        part infrastructure in Russia.
 
      - Effective 19th August, the name of the company was changed to
 
        Greaves Ltd., from Greaves Cotton & Co. Ltd.
 
      - 38,58,029 No. of equity shares (prem. Rs. 30) was allotted in
        conversion of 12.5% fully convertible debs.  28,552 No. of
 equity
        shares allotted to shareholders of erstwhile Greaves
        Semi-Conductors Ltd. on its amalgamation.  19,91,903 No. of 
        equity shares allotted on amalgamation of Ruston & Hornsby
 Ltd.
        & David Brown Ltd. with the company.  137,40,949 Rights
 equity
        shares allotted.
 
 1994 - Two new products were launched viz., diesel three wheelers
 and
        sale of HIPS resins and partly from the petrol engine unit at
        Thoraipakkam and Commencement of production of diesel engines
 at
        Ranipet, both acquired in January. 
 
      - The company undertook a project for the manufacture of
 rolling
        cutter rock bits, used largely in oil well drilling and also
 for
        waterwell drilling in collaboration with Smith Tool Company,
 a
        division of Smith International, Los Angeles, U.S.A.  For this
 
        purpose a new factory was set up in the MIDC Industrial
 Estate
        at Nasik.
 
      - Effective 31st January, the company acquired the Thoraipakkam
        properties of Enfield India Ltd., Chennai.  The company
 undertook
        to invest in the Ranipet complex to manufacture light diesel
        engines which was originally planned for at Aurangabad.
 
      - The company proposed to enter the field of agricultural
 tractor
        and associated diesel engines manufacture in Rankipet, Tamil
 Nadu
        in collaboration with a well known Italian manufacturer.
 
      - The company has signed a licence agreement in June to avail
        technology from SAME for the manufacture of certain range of
        tractors.
 
 1995 - 147,38,176 shares allotted as Bonus shares in prop. 1:2.
 
 1996 - The company achieved 94% of the installed capacity in the
        manufacture of Greaves Garuda diesel 3-wheeler.  However, the
        original plans for introducing the eco-friendly 4-stroke
 petrol
        engined 3-wheeler could not materialise during the year.
 
      - The Company proposed to set up an industrial park of
        international standard at Ranjangaon near Pune in
 collaboration
        with Overseas consortium partners and in association with
        Maharashtra Government agencies viz., the SICOM & MIDC.  The
        company proposed to introduce an eco-friendly 4-stroke Petrol
        engined 3 wheeler.
 
      - The company entered into a technical collaboration with SAME
 Spa,
        Italy for the manufacture of agricultural tractors and signed
 a
        joint venture agreement with SAME for the manufacture of
 diesel
        engines for tractors and other uses.
 
      - The company proposed to increase the capacity for the
 manufacture
        of diesel generating sets at Diesel Engines Unit in
 Chinchwad,
        Pune to cater to the enhanced demand in the market.
 
      - The company entered into a joint venture agreement with Same
        Deutz Fahr SPA of Italy for manufacture of diesel engines.
 
 1997 - Greaves Ltd, the engineering arm of the Thapar group, is
 entering
        into the automotive sector with tractors and two models of
        three-wheelers - one a six-seater diesel versions and the
 other a
        three-seater petrol model.
 
      - The production capacity of high speed diesel engines
 manufactured
        at Aurangabad and Ranipet will be increased form 60,000
 engines
        per annum to 100,000 engines per annum.
 
      - The company is to launch the Garuda six-seater diesel
        three-wheeler which conforms to 1996 emissions norms and will
 be
        shortly introducing the Garuda four-stroke petrol
 three-wheeler.
 
      - In the transportation division, the manufacturing capacity of
 the
        diesel run three wheeler garuda is proposed to be increased
 to
        60,000 from the present 24,000.
 
      - The company proposes to launch the production of the petrol
        version of the Garuda in the first quarter of 1997-98
        incorporating new features such as electric start and
        four-stroke engines.
 
        Greaves proposes to later launch a six-seater diesel vehicle
        and flat bed load carriers in the country.
 
      - Piaggio, the Italian auto major, is close to tying up with
        Greaves for manufacturing a range of diesel three-and
        four-wheelers in the country.  The two companies signed a
        memorandum of understanding and have already initiated a
 joint
        feasibility study.
 
      - The Power Transmission Division (PTD) of the company is on
 the
        verge of signing two joint ventures - one with the
        Singapore-based Team Asia for semi- conductors and another
 with
        an Italian company - Bonfigliloe - to manufacture higher
 ranges
        of transmission equipment and various types of gear boxes,
        which are applicable in heavy engineering and earth-moving
        vehicles.
 
      - Rajasthan Polymers & Resins Ltd (RPRL) is to be merged with
        Greaves Ltd with effect from April 1, as part of a
 comprehensive
        rehabilitation package approved by the Board for Industrial &
        Financial Reconstruction (BIFR).
 
 1998 - Greaves Ltd a LM Thapar group company, is doubling the
        manufacturing capacity of internal combustion engines at its
        Thoraipakkam plant, near Chennai.
 
      - Greaves Limited, which is the country's largest manufacturer
 of
        diesel engines, proposes to enhance the manufacturing
 capacity
        of spark ignition internal combustion piston engines -
 diesel,
        petrol land kerosene versions-from one lakh to two lakh units
        per annum.
 
      - The Italian automobile major has an existing tie-up with
 Greaves
        for manufacturing the Ape range of three wheelers in the
 country. 
 
      - Greaves Ltd, is the largest manufacturer of diesel engines
 with
        factories located at Pune, Aurangabad, Ranipet and
 Thoraipakkam,
        Chennai.  Greaves has also emerged as the largest
 manufacturer
        of IC engines in the country with a production of 1.8 lakh
        engines.
 
      - A memorandum of understanding (MoU) was signed between the
        Thapar company and the Dutch transmission equipment giant;
 BTR
        European Holdings, in New Delhi.
 
      - The company entered into a memorandum of understanding (MoU)
        with BTR European Holdings of Netherlands (BTR) recently to
        float a subsidiary which will be promoted in India by BTR or
        its associated companies.
 
      - Greaves Limited, the Thapar group company, launched a 50HP
        tractor, Same Greaves 503, in Chandigarh.
 
 1999 - Greaves Ltd has joined hands with Piaggio S. P. A. of Italy
 to
        locally produce in India compact engines with in-built
 gearboxes
        for the three-wheelers which the two Companies would be
        manufacturing under their joint venture.
 
      - Leading Auto manufacturer Greaves Ltd has tied up with two
        Chinese companies to manufacture small tractors (power
 tillers)
        and plans to sell the product at one third the price of a
        normal tractor.
 
      - Greaves has entered into an agreement with a Chinese company
        Chang Chai and has also entered into an alliance with
 Dangefeng
        Agricultural Machinery Group Corporation for manufacturing
 rest
        of the machinery and body of the power tiller.
 
      - Greaves Ltd, engineering arm of the Thapar group, has launched
 a
        new range of industrial gearboxes for the industry, making it
 the
        only company to offer a wide end unique range of gearboxes
 for
        different industries. 
 
      - The company has set up a plant at Baramati, Maharashtra, with
 a
        capacity to manufacture 25,000 vehicles every year. 
 
      - The company currently produces the `APE' range of diesel
        three-wheelers under technical guidance from Piaggio.  The
        company has just launched its APE range of three-wheelers in
 the
        National Capital Region (NCR) of Delhi.
 
      - Greaves, which had entered the industry with 50 hp tractor
 during
        end-1998, will manufacture `Solaris' tractors in the range of
 25,
        35, 45 hp at its Ranipet plant in Tamil Nadu.
 
 2000 - Greaves Ltd has decided to set up a 50:50 joint venture
 company
        with its existing technical collaborator Same Deutz SpA of
 Italy
        to manufacture tractors ranging from 25 hp to 70 hp.
 
      - The capacity of petrol/kerosene engines manufactured at
 Chennai
        will be increased to 120,000 engines from the current capacity
 of
        80,000 engines.
 
      - The Company have approved, in principle, the amalgamation of
        Rajpath Investments Ltd. a wholly owned subsidiary of the
 company
        with Carnation Investment Ltd. also another owned subsidiary
 of
        the company.
 
      - The Greaves engineering arm of Thapar Group, has entered into
 a
        technical collaboration with Italian Construction equipment
 giant
        Cifa Spa for manufacturing ready mix concrete equipment.
 
      - Greaves Ltd. has converted its tractor manufacturing
 operations in Ranipet
         near Chennai, which was earlier a technical collaboration
 with SAME of
         Italy, into a 50:50 joint venture with the Italian tractor
 major.
 
 2001- Italian diesel engine major, Lombardini acquires engine
 manufacturing facility of the Thapar group company, Greaves, at
 Aurangabad for a consideration of Rs 11 crore
 
 
 
 2002
 
 
 -Greaves Ltd has informed  that Mr K K Nohria has resigned from the
 office of Director of the Company, in view of his pre-occupation.The
 Board of Directors of the Company at its Meetings held on March 21,
 2002 has appointed Mr Vijay Rai as a Director to fill the casual
 vacancy caused by the resignation of Mr K K Nohria.
 
 - Italian auto firm Same Deutz Fahr Group SPA has taken over its
 Indian partner, Greaves Ltd, for Rs 26.9 crore from its two tie-up,
 one to manufacture tractors and the other for tractor engines 
 
 2003
 
 -Solaris Chemtech Limited acquires 950,000 equity shares of Rs 10
 each of Crompton Greaves Limited from Greaves Ltd., stake increases
 to 10.83% in the company
 
 - Greaves Ltd to go back to its erstwhile name Greaves Cotton
 
 2004
 
 -Greaves Cotton, part of the B M Thapar group has appointed Karan
 Thapar as the chairman of the company
 
 -Greaves Cotton signs MoU with Premium Energy Transmissions
 
 -Inks MoU with Corporation Bank for financing farm machines to
 farmers
 
 2005
 
 -Launches of an all-new Greaves Metro Pump for the construction
 industry
 
 -Greaves Cotton unveils four new products
 
 - Greaves Cotton Limited has appointed Mr. Vikram Tandon as a
 Director of the Company to fill the casual vacancy caused by the
 resignation of Gautam Thapar.
 
 2007
 
 - Greaves Cotton Ltd has informed that the Board of Directors of the
 Company, has appointed Mr. S D Nayyar as Additional Director of the
 Company, effective from September 26, 2007.
 
 -Greaves acquires Bukh-Farymann GmbH Diesel, Germany
 
 2008
 
 -A state-of-the-art Technology Centre and manufacturing facility for
 new G Series engines opened in Pune
 
 -New Compaction Equipment plant opened in Gummidipoondi, Tamil Nadu
 
 -A new manufacturing facility for Agro Equipment inaugurated in
 Gummidipoondi, Tamil Nadu.
 
 -Greaves Cotton - PVPL ties with Greaves for supply of engine
 
 2009
 
 -Greaves crosses two million mark in light diesel engines
 
 2010
 
 -Greaves Cotton has declared a third interim dividend of Rs. 2 per
 share for the year ended March 31, 2010. The company has already
 declared two interim dividends, totalling Rs. 4.50 per share.
 
 -Company has splits its Face value of Shares from Rs 10 to Rs 2
 
 2011
 
 -Greaves Cotton Ltd has entered into a long-term supply agreement
 with Mahindra & Mahindra Limited (M&M) for supply of single cylinder
 engines for their three-wheeled vehicles.
 
 -Greaves sets up Light Engines Unit V at Aurangabad
 
 2012
 
 -Greaves crosses three million mark in light diesel engines.
 
 -The Company has appointed Dr. Clive Hickman as an Additional
 Director of the Company.
Source : Dion Global Solutions Limited
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