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NELCO
BSE: 504112|NSE: NELCO|ISIN: INE045B01015|SECTOR: Telecommunications - Equipment
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Company History - NELCO
YEAR                       EVENTS
 
 
 1949 - The Company was Incorporated as a public limited company on
 28th
        May.
 
      - The Company's object is to manufacture radios, radiogram,
 radio
        components, electronic and other engineering products.  The
        Company received technical collaboration from E.K. Cole Ltd.,
 
        England under an agreement which was entered into in 1948 for
 a
        period of twenty years.  The products are sold under the
 trade
        mark NELCO.
 
 1950 - Authorised equity capital reduced from Rs.100,00,000 to 
        Rs.80,00,000.  Paid up capital reduced by Rs.6,00,000 by
 writing
        off Rs.20 per shares.  The issued shares were subdivided into
        fractional certificates of Rs.20 each and later consolidated
 into
        shares of Rs.100 each.  6,000 No. of equity shares were issued
 
        against payment in cash to M/s. E.K. Cole Ltd., England.
 
 1967 - General Radio & Appliances Ltd., was amalgamated with the
 Company
        with effect from 1st January.
 
 1968 - 11,666 No. of equity shares issued to shareholders of General
        Radio & Appliances Ltd. upon its amalgamation with the
 Company.
 
 1974 - 20,555 1/3 Right issued at par in prop. 1:3.
 
 1977 - 28,582 rights equity shares issued at par in prop. 3:8. 
 63,317
        shares allotted to schlumberger Ltd. France at par.
 
 1979 - The name of the Company was changed from The National Ekco
 Radio
        and Engineering Co. Ltd., to its present one consequent upon
 the
        expiry of the collaboration agreement with E.K. Cole Ltd., 
        England.
 
 1980 - The Company received licence to manufacture
        mini-computer/microprocessor based systems.
 
      - Some of the engineering support service activities of the
 Company
        were shifted from Andheri (Zone II) to TTC Industrial Area
 (Zone
        III).  For this purpose, the company purchased an existing 
        factory building on a plot of land leased from the MIDC at
 Vashi.
        The new facility became fully operational from August 1981.
 
      - The Company applied for an industrial licence for the
 manufacture
        of colour television receivers and video cassette recorders.
 
 1983 - 43,530 rights equity shares issued in the prop. 1:4.
 
 1985 - In February, the Company issued 1,00,000 - 13.5% secured 
        convertible bonds of the aggregate value of Rs.3 crores.  Each
 
        bond of Rs.300 consisted of two parts, namely, a convertible
        scrip of Rs.100 and a non-convertible scrip of Rs.200.
 
      - 93,000 bonds were offered on `Rights basis' to the resident 
        Indian shareholders in the prop. of 7 bonds for every 10 No.
 of 
        equity shares held.  5,000 bonds were offered to the
 employees
        and directors and 2,000 bonds to business associates.  At the
 end
        of 12 months from the date of allotment, the convertible part
 of
        Rs.100 was compulsorily and automatically converted into one 
        fully paid-up equity share at par.  The non-convertible
 portion
        of Rs.200 per bond would be redeemable at par at the end of 7
 
        years from the date of allotment.
 
      - The non convertible portion of Rs.2 crores which was due for
        redemption on 1st March, 1992 was proposed to extend the date
 of
        maturity by a period of two years.
  
 1986 - During October, the Company introduced its first colour TV
        receiving set under the brand name Blue Diamond.
 
      - In association with Morgan Construction Co. U.S.A., General
        Electric Co., Australia, the Company executed a contract for
        supply of Automated Drive Control System for Bar and Rod Mill
 for
        TISCO, Jamshedpur.
 
      - The Company in association with Honeywell, Italy, proposed to
        manufacture Unix-based computer system based on 68020
 Motorola
        Chip.
 
      - The Company entered the telecommunications field with the 
        manufacture of Electronic Exchanges (EPABXS) based on
 indigenous
        technology developed by C-Dot.
 
      - 1,00,000 No. of equity shares issued on conversion of bonds.
 
 1987 - Several new models of colour television sets were introduced. 
 
        The Company also developed and launched new models of 14
 black
        and white television sets.
 
      - Major drives, control and automation systems were
 successfully
        commissioned at the TISCO and Durgapur Steel plants.
 
      - The Durgapur steel plant introduced a Unix-Based Force 20
 mini
        computer system.
 
      - During Nov./Dec., 3,80,000 rights equity shares issued at par
 in
        prop. 6:5 (only 1,25,931 shares taken up).  19,000 No. of
 equity
        shares offered at par to employees/workers of the Company
        (including working directors) on an equitable basis (only 290
        shares taken up).
 
 1988 - In-house manufacture of colour television receivers were more
 
        than doubled and new models of both colour and black and white
 
        TV sets were introduced.
 
      - 1,21,410 rights equity shares (out of 3,80,000 issued in
 December
        1987) allotted.
 
 1989 - The balance 1,32,659 shares out of 1987 rights quota
 allotted.
        The balance 18,710 shares not taken by employees were allowed
 to
        lapse.
 
 1990 - Turnover at Rs.160 crores registered further growth, mainly
 due 
        to improved performance in the industrial systems business.
 
      - The Company's industrial systems division diversified into
 the
        area of energy management system for the power industry.  A
 major
        order was received from one of the power generating companies
 for
        the same.
 
 1991 - Industrial systems group and the information technology group
        registered substantial increase in business but sales and
 margins
        in the consumer products continued to decline due to recession
 in
        the consumer electronics industry.
 
 1992 - Shares sub-divided on 19th August, 6,00,000 shares allotted
 to
        financial institutions in conversion of loans on 28th August.
 
 1993 - Overall sales were reduced due to the demand recession in some
 
        of the Company's business and this coupled with the transfer
 of
        the UPS division into a new joint venture company with Tata
        Liebert Ltd.
 
      - Sales in the Drives and automation area was comparatively
 lower
        mainly due to execution of larger turnkey projects.
 
      - Technology group experienced a marginal reduction in sales in
 
        view of the reduced order from DoT on the industry and also
 due
        to non-uniform order replacement.
 
      - During December, 151,58,800 shares of Rs.10 each for cash at
 par
        were offered on rights basis to the shareholders of the
 Company
        in prop. 2:1 (all were taken up).
 
      
 -Simultaneously, 2,93,400 shares were to be offered to employees
        of the Company (only 80,200 shares taken up).
 
 1994 
 
 -152,39,000 shares allotted to shareholders.
 
 1996
 
 -Signed a contract with Tata Housing to develop a commercial complex 
 Nelco Plaza  at Andheri. Nelco stands to gain close to Rs 100 crore
 from the project.
 
 -Enteres into a tie-up with General Electric Company (GE) of the US 
 for the latest knowhow for drive and automation system in the metal
 industry.
 
 1999
 
 -NATIONAL Radio is dead. Long live Nelco. Replacing its registered
 name with its brand name recently is only the ostensible face of the
 change at this 57-year-old Tata company.
 
 2003
 
 -Signed a memorandum of understanding to develop, market and sell a
 range of hi-tech electronics-based systems to the Indian defence
 forces.
 
 -Dr. Ravi Gopinath has been appointed director on the Board with
 effect from August 19, 2003. Mr. K A Mahashur has been reappointed
 Whole-time Director of the Company designated as Executive Director
 for 5 years with effect from September 1, 2003.
 
 -Mr. R R Bhinge as an Additional Director of the Company w.e.f August
 29, 2003.
 
 2004
 
 -Tatanet Broadband Wireless Pvt Ltd has become subsidiary of the
 company. Consequently the new name of that company is Tatanet
 Broadband Wireless Ltd.
 
 2006
 
 -Nelco Ltd has appointed Lt. Gen. Davinder Kumar (Retd) as an
 Additional Director of the Company effective November 17, 2006.
 
 2007
 
 -Nelco Ltd has appointed Mr. Prasad R Menon as an Additional Director
 of the Company effective July 20, 2007.
 
 -Nelco Ltd has appointed Mr. Shailendra Kumar Gupta as an Additional
 Director of the Company effective October 23, 2007.
 
 2008
 
 -Tatanet Customer Gulf Oil bags SAP ACE 2008 Award
 
 2009
 
 -Tatanet, Division of Nelco, Bags ONGC order worth Rs 42 crore  for
 Satellite Connectivity.
 
 - The Board has recommended dividend of Rs. 0.60 p per share on the
 Equity Shares of Rs. 10/- each.
 
 2010
 
 -Tatanet Partners with Compuware to Deliver World-class Application
 Performance Management to its Customers.
 
 -The Company recommended dividend of Rs. 2/- per share (including
 Re.1/- as dividend) on the equity shares of Rs. 10/- each.
 
 2011
 
 -The dividend of Rs. 2/- (including Re 1/- as special dividend) per
 equity share of Rs. 10/- each.
 
 -Registered Office of the Company has been shifted From Francysters
 Cybernetics Center, Eucharistic Congress Building no. III, 5, Convent
 Street, Colaba, Mumbai - 400001 To Nelco Limited MIDC, Plot no. EL 6,
 TTC Industrial Area, Electronics Zone, Mahape, Navi Mumbai - 400710
 
 2012
 
 -The Company has recommended a dividend of Rs. 0.5 per equity share
 of the face value of Rs. 10 each.
 
 -The Company appointed Mr. P. J. Nath as Manager.
 
 -The Company appointed Mr. S. K. Gupta as Independent Director of
 NELCO Ltd.
Source : Dion Global Solutions Limited
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