Company History - Balkrishna Industries
1961 - The Company was incorporated on 20th November, at Mumbai.
Company carries out the manufacture of pulp and paper and
processing of synthetic fabrics.
1963 - Allotted 450 shares to directors and 12,050 shares to friends
directors. 12,500 shares offered at par to the public in
1962. Only shares offered at par to the public in March
Only 7,500 shares subscribed for.
1971 - With effect from 17th May, the name of the company was
from Papchoni Corporation Ltd., to Balakrishna Paper Mills
It was again changed to the present one on 29th October,
1978 - 50 tonnes per day paper machine was installed in October,
enhanced the installed capacity of the paper plant to 7,200
1979 - 10,000 Shares issued at par as Rights in prop. 1:2.
1984 - 30,000 Rights equity shares issued in 1982-83 (Prem. Rs 100
share; prop. 1:1).
1985 - 60,000 Bonus equity shares issued in prop. 1:1 and allotted
1986 - The Company privately placed with UTI 1,50,000-15% secured
redeemable non-convertible debentures of Rs 100 each.
1987 - The Company undertook modernisation of Synthetic Textile
Processing Division by addition of latest sophisticated
- The Company undertook to set up a plant with an installed
capacity of 18 lakhs automobile tyres at Waluj, Aurangabad
district, a notified backward area.
- During October/December, the Company offered at par
secured redeemable convertible debentures (Series-IV) of Rs
each in the proportion 2 convertible debentures to every 25
of equity shares held and 2,88,000-14% secured redeemable
non-convertible debentures (Series-V) of Rs 100 each in prop.
non-convertible debentures to every 25 No. of equity shares
to the then existing shareholders.
- Out of the convertible debentures, only 76,847 debentures
taken up by shareholders and their nominees. The balance
debentures were allotted privately. Out of the
debentures, only 1,301 debentures were taken up by
and their nominees. The balance 2,86,699 debentures were
allotted to UTI under a stand-by arrangement.
- In addition, 4,800 convertible debentures of Rs 170 each and
14,400 non-convertible debentures of Rs 100 each were offered
the employees (including Indian working directors)/workers of
Company. All the non-convertible debentures and only 1,560
convertible debentures were taken up.
- As per the terms of offer, the convertible portion of Rs 70
each debenture (Part-B) was to be compulsorily and
converted into one equity share of the Company at a premium of
60 per share at the expiry of six months from the date of
- The non-convertible portion of Rs 100 of each debenture
under both cumulative and non-cumulative interest schemes
be redeemed in three equal instalments between 6th and 8th
from the date of allotment of the convertible debentures.
Subsequently, 97,560 shares were issued during June/July 1988
conversion of debentures.
- The non-convertible debentures of Rs 100 each under both
cumulative and non-cumulative interest scheme shall be
in three equal instalments between the 6th and the 8th year
the date of their allotment. A premium of 5% on redemption
be payable along with the instalment falling due on the 7th
1989 - The tyre division introduced various sizes of 4 wheeler tyres
light commercial vehicles, jeep, tractor (front), railers,
- Various sizes of 4 wheelers tyres for LCV, Jeep tractor
trailers & animal drawn vehicles etc., were introduced during
year. However, the margins of the division were affected by
increase in costs of inputs, uneconomic sales realisation and
low capacity utilisation.
1990 - The Company undertook further modernisation cum balancing
at the paper plant to increase the capacity to 26,400 TPA.
- Operations at the paper division were suspended for 10 days due
to a fire in the electrical installation. The margins of
division continued to be affected by increase in cost of
- 12,97,560 Bonus equity shares issued in prop. 1:1.
- The paper plant was shut down for 13 days for the purpose of
replacement of ACB panel, which was burnt in a fire in
- The Company undertook phase-II of the expansion-cum-modernisation
-A range of Light Commercial Vehicle tires launched in the
- The Company issued 2,00,000-18% secured redeemable
non-Convertible debentures of Rs 200 each to UTI on private
placement basis. These debentures are to be redeemed in
equal annual instalments from 3rd November, 1995.
1994 - Under the modernisation-cum-expansion scheme, the plant to be
installed was to have modern finishing equipment for
polyester viscose fabrics enabling the synthetic textile
processing division to enter premium segments.
- The Company undertook to set up a division named Balakrishna
Poly Packs at Murbad, a backward area in Maharashtra, for the
manufacture of 15 million woven sacks of HDPE/PP. This
was to be financed by a rights issue of non-convertible
debentures not exceeding Rs 240 lakhs, internal accruals and
loans from financial institutions.
- The Company allotted 25,95,120 Bonus Shares in the ratio of
to the existing shareholders. Pursuant to the resolution the
Company allotted 10 lakh shares to Unit Trust of India at a
premium of Rs 200 per share on private placement basis.
-The Company undertook to implement a further
modernisation-cum-expansion of Scheme No. V. After the
completion of the Scheme the plant capacity will increase to
48,000 tpa from 30,000 tpa and the scheme also includes the
setting up of a captive power plant of 3.3 Megawatt capacity.
-Identified a niche segment for International Market, commenced
production of Off Highway Segment
-Commenced exports to Europe & North American markets with
Agricultural Range of tires. Based on initial success in the
International markets ,a massive production expansion program was
-More than 500 SKUs developed in Agricultural application segment
-Started production of Flotation & MPT tires and further expanded the
production capacities and capabilities.
-Second Manufacturing unit was established at Bhiwadi in Northern
part of India, thereby doubling the production capacity. Awarded with
prestigious ISO 9001:2000 certificate for Quality Management System by
-Launch of Earthmover tires, All Terrain Vehicle (ATVs), Lawn &
-First company from India to introduce Radial Agricultural tires sub
branded as AGRIMAX
-The Comopany enters into Outsourcing Agreement with Trelleborg Wheel
-Balkrishna Industries has given the Bonus in the Ratio of 1:2
-In house mould shop established
-The Company has recommended a Final Dividend of Rs 3/- (30%) per
Equity Shares of Rs 10/-
-Third Manufacturing unit commissioned at Chopanki in Northern India
-The Company Opened European office at Milan , Italy
-The Company Launched Floatation Radial tires
-The Company Introduced 65 series and 90 Series AGRIMAX range of
-The Company Introduced Port application tires & Row crop tires.
-The Company became first company from India to offer All Steel
radial OTR tires. Sub branded as EARTHMAX.
-The Company has recommended payment of Final Dividend of Rs 6 per
-The Company Launched Radial MPT Range of tires sub branded as
-The Company Introduced Forestry range of tires
-The Company has recommended payment of Dividend of Rs 6.00/- per
-The Company has appointed Shri. L V Merchant, as an Additional
Director (Independent Director) of the Company.
-The Company Introduced Radial Harvester tires sub branded as AGRIMAX
-The Company introduced Radial extra large tires sub branded as AGRI
-The Company Introduced Steel belted Forestry tires sub branded as
FORSTECH also introduced steel belted ROADMAX range of tires.
-Company has splits its Face value of Shares from Rs 10 to Rs 2
-Work Commenced at 4th Plant; a Greenfield project.
-The Company has repaid 4.5% Foreign Currency Convertible Bonds
(FCCB) ('Series B') of USD 22 million.
-The Board has recommended payment of Dividend of Rs. 1.40/- per
Share (70%) on the Equity Shares of Rs. 2/- each.
-The Board has approved the re-appointment of Shri Arvind M Poddar,
Vice Chairman and Managing Director of the Company.
-The Board has approved the appointment of Shri Vipul Shah, as an
Additional Director and Whole Time Director of the Company.
-The Board has recommended payment of Dividend of Rs. 1.50/- per
Share (75%) on the Equity Shares of Rs. 2/- each.
-The Board has approved the re-appointment of Shri Rajiv Poddar for a
period of five years w.e.f. January 22, 2014 as a Executive Director
and has been re-designated as a Joint Managing Director.
- The Board has recommended payment of Final Dividend of Rs. 2/- per
Equity Share (100%) on the Equity Shares of Rs. 2/- each