SENSEX NIFTY
Sundaram-Clayton > Company History > Auto Ancillaries > Company History of Sundaram-Clayton - BSE: 520056, NSE: SUNCLAYLTD
YOU ARE HERE > MONEYCONTROL > MARKETS > AUTO ANCILLARIES > COMPANY BACKGROUND - Sundaram-Clayton
Sundaram-Clayton
BSE: 520056|NSE: SUNCLAYLTD|ISIN: INE105A01035|SECTOR: Auto Ancillaries
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
Jul 28, 17:00
1323.60
-69.65 (-5%)
VOLUME 196
LIVE
NSE
Jul 25, 17:00
1409.05
-74.15 (-5%)
VOLUME 1,476
Company History - Sundaram-Clayton
1962 
 
 - The Company was incorporated on 24th May, as a Private Ltd. 
 Company
 and it was converted into a public limited company in October 1962.
 The company was jointly promoted by T.V. Sundaram Iyengar & Sons
 Ltd.,
 and Clayton Dewardie Holdings Ltd., U.K.  (CDH).  It manufactures
 brakes exhausts, compressors, servos units, stack adjusters, brake
 chambers, reservoirs, hoses, mopeds and non-ferrous castings.
 
 - 9,446 shares allotted to Clayton Dewandre Holdings, Ltd., U.K.,
 without payment in cash against supply of plant and machinery.
 
 1972 
 
 - The Company established an aluminium foundry for the manufacture
 of
 non ferrous castings.
 
 1978 
 
 - The company set up another plant at Hosur for the manufature of
 mopeds which are sold under the brand name TVS-50.
 
 - Bonus Equity shares issued in prop. 1:3.
 
 1979 
 
 - The licensed capacity was increased to 1,19,000 sets in Nov.
 
 1981
 
 - The company entered into a license and technical assistance
 agreement
 with Clayton Dewandre Company Ltd. (CDC), U.K. for the manufacture
 of
 system protection valves.  The Company also entered into two license
 and Technical assistance agreements with WABCO, GAHREUGBREMSEM LTD.
 West Germany, for the manufacture of dual brake valves, trailor
 control
 valves and hand operated brake valves.
 
 - The Company proposed to enter into another licence and technical
 assistance agreement with the Union Switch and Signal Division of
 American Standard Inc., U.S.A. (AS), for the manufacture of
 signalling
 relays, point machines and related hardware.  The plant was proposed
 to
 be constructed at Hosur, Dharmapuri district, Tamil Nadu State.
 
 1982 
 
 - Shares sub-divided.  22,76,110 bonus shares then issued in prop.
 1:1.
 
 - 11,38,055 shares issued (prem. Rs 10 per share) of which 56,900
 shares to employees and 22,760 shares to business associates were
 reserved for allotment.  10,58,395 shares offered to the public in
 August, 1983.
 
 1984 
 
 - A letter of intent and clearance under the MRTP Act was received
 for
 the manufacture of pneumatic equipment for industrial applications
 in
 collaboration with WABCO.
 
 - Another letter of intent and MRTP clearance was received for the
 manufacture of industrial laundering, washing, cooking, dispensing
 and
 disposing systems.
 
 1985 
 
 - Clearance under MRTP for the manufacture of refrigerators at
 Pondicherry was received.  The Company received a letter of intent
 to
 manufacture uninterruptible power supply systems and computer
 peripherals in collaboration with M/s. Elgar Corporation, U.S.A.
 Collaboration arrangements were under negotiation.
   
 1987 
 
 - Ausaldo Transporti, Sr. A, Italy is a collaborator for the
 manufacture of signalling relays, point machines and related
 hardware.
 
 - Negotiations were being held with Ausaldo, Italy for
 implementation
 of the letter of intent granted for the introduction of
 micro-processor
 based signal and train controlling systems through a new joint
 venture
 to be established.
 
 - As the moped division was sold to TVS-Suzuki, Ltd. the Company
 subscribed for 14,00,000 No. of equity shares of Rs 10 each in the
 rights issue of TVS-Suzuki, Ltd.
 
 - 37,93,517 bonus shares issued in prop. 2:3.
 
 1989 
 
 - The production of foundry division suffered in the last quarter of
 the year due to a lock-out in the factory of one of the Company's
 major
 customers.  The operations of the railway division suffered for a
 variety of reasons such as stiff competition, increase in the cost
 of
 inputs, higher working capital requirements, etc.
 
 - The Company privately placed with ICICI 5,00,000-14%
 non-convertible
 debentures of Rs 100 each which were to be redeemed in three annual
 instalments beginning from 27th September, 1995 with a premium of 5%
 to
 be paid with the second instalment.
 
 1991 
 
 - A subsidiary Company by name Railway Products (India) Ltd. was
 formed.
 
 - Investigations revealed unsatisfactory prospects for the
 manufacture
 of industrial pneumatic equipments in collaboration with WABCO,
 Hannover, Germany hence the licence was ceased and agreement was
 cancelled.
 
 - The Company privately placed 5,00,000-19% non-convertible
 debentures
 of Rs 100 each aggregating to Rs 500 lakhs with the following
 financial
 institutions: (i) 1,25,000 to LIC, (ii) 20,000 to GIC, (iii) 15,000
 to
 New India Assurance Co. Ltd., (iv) 15,000 to United India Insurance
 Co.
 Ltd., (v) 2,00,000 to SBI Mutual Fund and (vi) 1,25,000 to GIC
 Mutual
 Fund.
 
 - These debentures of Rs 100 each are redeemable in three annual
 instalments beginning from 29th October, 1997, with a premium of 5%
 to
 be paid along with second/third instalment.
 
 1994 
 
 - It was proposed to expand the production capacity.
 
 2001
 
 - Sundaram Clayton is forging a sourcing arrangement with engine
 maker
 Cummins for the Indian and US markets. SCL has recently achieved a
 breakthrough by executing orders worth Rs 3-4 crore for Cummins of
 US.
 
 2002
 
 -Sundaram Clayton Board have approved the variation of the terms of
 contract executed between the company and Mr Venu Srinivasan, MD.
 
 2003
 
 -Sundaram Clayton, part of the TVS group is betting on Anti-lock
 Break System (ABS) as the new technology which could bring in
 huge cost savings, especially for the commercial vehicle industry in
 India.
 
 -SCL is enhancing the capacity of its aluminium die-casting foundry
 from 600 tonnes per month to 1500 tonnes per month.
 
 -TVS group company Sundaram Clayton Ltd (SCL) has acquired an order
 to supply die castings to Volvo for its American operations
 
 2005
 
 -Sundaram-Clayton opens new division to develop software for WABCO
 
 2006
 
 - Mr. S Muralidharan has been appointed as a Company Secretary and as
 a Compliance Officer.
 
 - 100% defect free delivery for Q2, Q3 and Q4 from Cummins, USA 
 
 2007
 
 - The Board have recommended a final dividend of Rs 2/- per share on
 equity shares of Rs 10/- each.
 
 - ''Most Improved Supplier award from Cummins, US 
 
 - Best supplier award for Responsiveness from Cummins ABO 
 
 2008
 
 - Best Supplier award for Cost reduction from Honda Siel Cars India.
 
 - Awarded for TPM Excellence, Category A.
 
 2009
 
 - Mr R Raja Prakash appointed as Company Secretary and Compliance
 Officer of the Company.
 
 - Excellent performance in 6 sigma initiatives from Cummins, United
 States.
 
 -Sundaram Clayton has given the Bonus in the Ratio of 1:1
 
 2010
 
 - Sundaram Clayton - Lakshmi Venu joins Sundaram-Clayton Board of
 Directors.
 
 2011
 
 - Sudarshan Venu joins Sundaram-Clayton Board of Directors.
 
 2012
 
 -  Mr Venu Srinivasan has been appointed as Chairman of the Company.
 
 - Mr R Vijayaraghavan as an additional and non executive independent
 director of the Company.
Source : Dion Global Solutions Limited
Quick Links for Sundaram-Clayton
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.