1919 - The company was incorporated on 26th May, for the purpose of
acquiring and continuing the managing Agency business of the
of Andrew Yule & Company which had been established in India
1863. The Company carries on business as general merchants,
traders, agents and dealers in shares, stocks, and
It also runs an engineering division which produces a wide
of machinery and equipment including `Sirocco' and `PEW'
- The Company's engineering division has facilities for
specialised ferrous and non-ferrous heavy castings and
fabricated items and also manufacturer river and coastal
- The Company also has a factory which produces, among other
things, electrical equipment like switch-fuses, switchboards,
circuit breakers, metering kiosks, control panels, drop out
fuses, feeder pillars, cable joint and terminal boxes,
flamerproof air circuit breakers and lightning transformers,
transductors, voltage regulators, rectifiers and power
- As Managing Agency House, the Company was intimately
with tea, jute, coal, electric power generation and
in addition to its traditional business activities.
1967 - Equity shares subdivided. 6,00,000 Bonus Equity shares issued
prop. 2:3. 5,000 Pref. and 1,00,000 Equity shares issued to
Davidson & Co., Ltd. Belfast, upon merger of Davidson of
Pvt. Ltd. with the Company.
1968 - 3,00,000 No. of equity shares issued at par through
1,00 - 9% Pref. 1,00,000 No. of Equity shares issued without
payment in cash to members of steam a Mining Equipment
Pvt. Ltd. on merger.
1976 - A letter of intent received for the belting project was
into an industrial licence.
- In order to ensure that the belting project became viable at
earliest, the Company finalised a technical collaboration
agreement with BTR Belting, Ltd., U.K., to provide technology
the manufacture of synthetic fibre reinforced rubber conveyor
- Calcutta Discount Co., Ltd. was amalgamated with the Company
with effect from 1st January.
- 22,790 - 4.5% Pref. shares held by Calcutta Discount Co. Ltd.
were cancelled upon merger with the Company.
1977 - An agreement was entered into with BETHE, GmbH, West Germany
providing technical know-how for the manufacture of air
- A technical collaboration agreement was also finalised with
Davidson & Co. Ltd., U.K., for their entire range of products
including the static and dynamic components for heavy duty
1978 - The company also entered the field of electrical equipment
manufacture by virtue of its acquisition of Steam & Mining
Equipment (India) Private Ltd., effective from 1st July.
- The Company acquired the entire business of Davidson of India
Pvt. Ltd., which along with port Engineering works Ltd. was
amalgamated with the Company with effect from 1st July.
- The Company also acquired the business of steam & Mining
(Switchgear) Ltd., an associate to Steam & Mining Equipment
Pvt. Ltd. effective from 1st July.
- The Company also acquired the business of Steam & Mining
Equipment (India), Pvt. Ltd. The Company closed down its
- Hooghly Printing Co., Ltd. with an issued and paid up capital
1,89,500 No. of equity shares of Rs 10 each is a wholly owned
subsidiary of the Company.
1982 - 51,82,834 No. of Equity shares issued for cash par.
1983 - The Company received a Letter of Intent for the manufacture
material handling equipment and there was a search for
identifying a suitable technical collaborator to diversify
- The Air Pollution Control Equipment Unit received a Letter of
Intent for the manufacture of Wet suppression dust control
system. A technical collaboration agreement for this
was executed with B.J. Devaux & Co., U.K. This unit proposed
diversify into the design and manufacture of high capacity
electrostatic precipitators for thermal power stations. A
technical collaboration agreement for the manufacture of this
product was executed with Peabody Sturtevant Ltd., U.K.
- The Electrical Unit took up diversification programmes into
fields of electronics, mine communication and safety devices.
- The Belting Division successfully implemented the technology
the manufacture of polyester cord fan and vee belts under the
brand name of `YULE SHAKTI' in technical collaboration with
Goodyear India, Ltd.
- The Company entered into a technical collaboration agreement
BETH GmbH, West Germany for transfer of technology in
with the manufacture of Bethfulls which is an improved model
- Two more technical collaboration agreements were executed
two U.K. companies and B. J. Devaux & Co., and Peabody
Sturtevant, Ltd., for the manufacture of west supression dust
control system and electrostatic precipitators respectively.
- The Government nationalised the undertaking of Transformer &
Switchgear, Ltd., Chennai and vested the assets thereof with
Company with effect from 8th November. As a result, this
undertaking became a unit of the Company.
- The Company's investment subsidiaries viz., Clive Row
Holding Co., Ltd. and Chitpore Golabari Co., Ltd. were
amalgamated with the Company with effect from 31st March.
- 52,630 No. of Equity shares allotted to the minority
of CRIHCO in term of amalgamation scheme. 2,96,300 No. of
shares allotted to Government of India.
1985 - The belting division took steps to instal a few additional
equipment during the year to increase the production capacity
`YULE SHAKTI' polyester fans and vee belts.
- The Company obtained necessary approval for a project to
manufacture steel cord reinforced rubber conveyor belting.
1986 - A proposal for the transfer of latest technology for the
manufacture of pole mounted switchgears and sectionalizers
the existing agreement with Togami Electric Manufacturing
Ltd., Japan, was undertaken during the year.
1987 - A new factory was inaugurated on 10th October. With the
installation of balancing equipment, production of conveyor
and fan and Vee belts increased.
- Effective from 26th August, the Company's six tea
viz., Banarhat Tea Co., Ltd., Basmatia Tea Co., Ltd.,
Hoolungooree Tea Co., Ltd., Mim Tea Co., Ltd., Murphulani
Tea Co., Ltd. and the Rajgarh Tea Co., Ltd., were amalgamated
with the Company.
- As per the scheme of amalgamation, the Company allotted
payment in cash preference and equity shares to the
tea companies as: 2,217-6 1/2% Cumulative Preference shares
Rs 100 each. 9,259 - 9.3% Cumulative Preference shares of Rs
each; and 18,82,714 No. of Equity shares of Rs 10 each.
- The undertaking of Brentford Electric (India), Ltd. was
nationalised vide the Brentford Electric (India), Ltd. Act,
with effect from 1st April, 1986 and all the rights, titles
interest in relation to the said undertaking was vested with
1988 - The electrical unit entered into a collaboration agreement
Metronex Ltd., Poland for manufacture of sophisticated mining
electronic equipment. This is in addition to the
with Togami Electric Mfg. Co., Ltd., Japan for production of
Vacuum Circuit breakers.
1989 - The engineering division proposed to introduce new products
make good its poor performance.
- The engineering division developed various electronic
such as flame proof and intrinsically safe sequence
with pre-start alarm and communication system incorporating
required modification suggested by the Department of
- Necessary steps were taken for the manufacture of synthetic
reinforced conveyor belting.
- 9%, 6.5% and 9.3% Pref. shares redeemed 11,57,600 No. of
shares issued to Govt. of India against the compensation paid
for acquiring Brentford Electric India Ltd. and Transformer
1990 - A collaboration agreement was entered into with the Department
Electronics for the manufacture of Linear Accelerator
used for cancer therapy.
1991 - The Company entered into a collaboration agreement with M&I
Transfer products of Canada to acquire technical knowhow for
manufacture of specialised air handling and air ventilation
equipment having critical application in nuclear power
defence, steel and petrochemical industries.
- As a result of the amalgamation of Steam & Mining Equipment
(India) Private Limited, the Company acquired a 50% interest
Brentford Electric (India) Limited, for whom the Company now
as sole selling agents.
1992 - Yule Red launched was well received in the market. `Yule
launched in the second half of the year also received
- The electrical unit undertook to manufacture EPABX and ERAX
equipment based on C-Dot technology. the Togami unit proposed
import SF-6 gas filling plant from Germany for production of
filled bottom chambers for capacitor switches leading to
- The Brentford unit entered into a Technical collaboration
agreement with Daihen Corporation Ltd., Japan for manufacture
Automatic Step Voltage regulators.
- The Company finalised technical collaboration agreements with
Togami Electric Manufacturing Co., Ltd., Japan for the
manufacture of the following products: 3.3 KV airbreak
contractors and isolators; block type airbreak LT contactors;
bi-metallic overload relays and moulded case circuit
1993 - A technical collaboration agreement was signed with Mushroom
Consulting J. Huys, B. V. Holland for cultivation of white
- The Company also undertook to use modern technology for
up a Horticulture and tissue culture project.
1994 - In the engineering division, manufacture of specialised air
handling air ventilation equipment and isolation dampers for
nuclear power plants was held up due to technical problems.
- The belting division faced acute crisis due to lower order
as the orders were spread out over sector and time period.
- Due to liquidity crisis, the Company was not able to
its diversification activities viz., export oriented agro
products. It was proposed to set up a new Company Yule Agro
Industries Ltd. to take over the said agro based products.
- Andrew Yule & Company, has introduced a voluntary retirement
scheme to trim down its workforce in engineering and
-Joint venture with Phoenix AG of Germany for the belting division
has been further delayed as its bans want a part of the money
received by Yule from the sale of a 74 per cent stake in the
-Phoenix AG of Germany has picked up 74 per cent stake in the belting
division of Andrew Yule & Co an ailing public sector undertaking
(PSU) for a consideration of around Rs 35 crore.
-submitted a revival-cum-restructuring proposal for its engineering
division to the Centre for its consideration.
-Acepted and prematurely retired a few of its employees based on
undated voluntary separation applications given by them.
-Shri Arindom Mukherjee appointed as Chairman and Managing Director
of the company
-Offer Voluntary Retirement Scheme (VRS). Voluntary retirement scheme
fails to achieve its objective as the management was not able to
release union staff members, mainly clerks and workmen, who opted for
the VRS at its head office
-Approves issue and allotment of fresh 2,900,000 Equity Shares of Rs
10 each to the Central Government in the name of the President of
India in conversion of the financial assistance of Rs 29,000,000
sanctioned and disbursed to the Company by the Central Government.
-Board approves the issue & allotment of fresh 43,05,000 equity
shares of Rs 10 each at par to the Central Government in the name of
the President of India in conversion of the financial assistance of
Rs 43.050 million sanctioned and disbursed to the company by the
-Phoenix Yule receives 'Highest Export Award in the non-tyre segment
-Andrew Yule & Company Limited has won the prestigious `SCOPE' Award
for Excellence and Outstanding Contribution - Turnaround Category for
-The Company has bagged the prestigious BRPSE Turnaround Award 2011
-Andrew Yule & Co. Ltd. has won the prestigious MoU Excellence Award
-FICCI West Bengal State Council in partnership with Public Health