Company History - Hindustan Motors
1942 - The Company was incorporated on 11th of February, at Baroda.
- The Company manufactures and Assembles Hindustan
Bedford trucks, lion diesel engines, Harion shovels,
bulldozers, M.A.N cranes and all types of steel
- Hindustan Motor Corporation Limited, Uteco Limited are
1945 - 48,75,000 shares issued through a prospectus, of which
shareholders subscribed for 9,75,000 shares and the
their friends for 24,00,000 No. of equity shares.
15,00,000 shares offered to public.
1959 - The company entered into an agreement with Universal Marion
Switzerland and the Marion Power Shovel company for the
manufacture and sale in India of 93M crawler mounted
powered excavators and components; with the Caterpillar
Company, USA, for the manufacture and sale of bulldozers
scrapers; with M.A.N. Nuremberg for the manufacture and
crane engineering products of M.A.N design in India.
1967 - The company entered into a collaboration agreement with the
General Motors Corporation, USA, for the manufacture of
earthmoving equipment at Trivellore.
1970 - 1,757 Right equity shares allotted out of previous Right
till March 1970 and in February, 1971, 21,94,201 Bonus
shares issued in the prop. 1:5.
1971 - HM diversified its activities by setting up a plant at
Tiruvallur, near Chennai, Tamil Nadu for manufacture of
earthmoving equipment such as dumpers, front-end
1980 - Authorised capital reclassified. Dividend on pref. shares
to 11% w.e.f. 7.6.1980. 21,455 pref. shares redeemed.
1983 - The Government approved the company's proposal to increase
production capacity of passenger cars to 50000 units per
out of which 20000 were to be produced in Madhya
1984 - In January the company launched its new passenger car
with a new aero dynamic body. A technical collabration
was entered into with Isuzu Motors Ltd, Japan for the
manufacture of TROOPER a general utility vehicle.
- Another collaboration was entered into with Caterpillar
to manufacture their diesel engines.
1985 - The new product CONTESSA CLASSIC was intoduced. The company
entered into a collaboration agreement with Liebherr
Induetrieanlagen AG, Switzerland for the manufacture
mobile cranes (hydraulic telescopic boom) ranging from
capacity of 20 tonnes to 60 tonnes.
- HM set up a plant at Hosur, Tamil Nadu for manufacture of
duty transmission required for earthmoving equipment
- The company entered into an collaboration agreement with
Caterpillar Tractor Company (CAT) of USA for the
earthmoving equipment. The 50 tonne dumper was launched
1986 - There was also acute power shortage. During the year,
tractors and front end loaders based on caterpillar
- The name of Hindustan Motor Corporation Ltd., was changed
Hindustan Motor Finance Corporation Ltd., with effect
- 131,65,208 Bonus equity shares issued in prop. 1:1, as
1987 - The company introduced during the year 85 tonnes dumper on
- During August-September the company issued 3300000 - 14%
1988 - The company entered into an agreement with Birla Technical
Services Ltd (BTS) a unit National Engineering
for services and supply of materials for modernisation
Rourkela and Durgapur steel plants.
- Also, another agreement was entered into with Ricardo
Engineers, U.K. for modernisation of Ambassodor petrol
- In addition, an agreement was entered into with Pragoti
Industries Ltd., Bangladesh for technical know-how for
manufacture of company's Hindustan Tractors in
Bangladesh for a
period of 10 years. The company in joint venture with
Caterpillar Commercial N.V., Belgium incorporated a new
at Tamil Nadu called Hindustan Power Plus Ltd.
- The Company had entered into collaboration with Twin Disc
(TDI) of USA for a specific line of transmissions, the
for which was sold to TDI by ATD in 1986.
1989 - Effective from 11th January, the name of the Uteco, Ltd., was
changed to HM Export, Ltd.
- The Company offered 23,00,000 - 12.5% partly convertible
debentures of Rs.200 each as rights to equity
prop. 2 debentures : 23 equity shares. All were taken
Additional 3,43,746 debentures were allotted to retain
- Simultaneously 1,15,000 - 12.5% parly convertible
Rs.200 each were offered to employees (including working
directors)/workers of the Company on an equitable basis.
7,550 debentures taken up. The balance 1,07,450
allotted to Canbank Mutual Fund with the permission of
Controller of Capital Issues.
- Rs.50 (Part-A) of the face value of each debenture was to
converted into 5 ordinary shares of Rs.10 each at par at
of six months from the date of allotment of debentures.
- Another Rs.50 (Part-B) of the debentures was to be
5 ordinary shares of Rs.10 each at par at the end of 12
from the date of allotment of debentures.
- The non-convertible portion (Part-C) of Rs.100 of each
was to be redeemed at par in 5 equal instalments of Rs.20
the expiry of 5th, 6th, 7th, 8th and 9th year from the
allotment of debentures.
1990 - 137,93,730 No. of equity shares allotted at par on conversion
Part-A of 12.5% debentures.
1991 - 137,93,730 No. of equity shares of Rs.10 each allotted at par
conversion of Part-B of 12.5% debentures.
1992 - The Automobile division introduced a new 20 tonne dumper with
disc brakes and higher and improved power train to meet
- Two new transmissions adopting caterpillar technology
- The Company proposed to enter into a joint venture
General Motors Corporation.
- During Nov./Dec. 1992, the Company offered 539,17,876 No.
equity shares of Rs.10 each for cash at a prem. of Rs.5
share, prop. 1:1 (all were taken up). 2,97,732 shares
1993 - A new version of Ambassador 1800 ISZ which has a power train
manufactured at the company's factory at Pithampur, M.P.
- Production at the auto division was only marginally
higher due to
production constraints in the later part of the year.
division developed and indigenised a two litre diesel
based on Isuzu technology.
- The joint venture between the Company and General Motors
launched. A joint venture agreement was signed and a new
under the name General Motors India Ltd. was incorporated
the Company having 50% stake.
1995 - A new joint venture with General Motors Corporation of US is
launched in the name of General Motors India Limited.
- Company's Power Product Division at Hosur received ISO
certification. Company has introduced a new version of
Ambassador (Amabassador 1800 ISZ) Car.
- Hindustan Motors Ltd., has launched its environment
compressed natural gas(CNG)/petrol bi-fuel Ambassador car.
company also has plans to introduce Ambassador and
Classic cars fitted with catalytic converters, which will
suitable for lead free petrol in the four metros by 1
- The passenger car division of Hindustan Motors Limited,
awarded the coveted ISO 9001 certificate by the Indian
- The power products division of Hindustan Motors Limited
developed a prototype of a fuel-efficient automatic
system which the company wants to market to on-highway
i.e., trucks and buses.
- Hindustan Motors Limited, the CK Birla flagship company,
set to enter the small car segment.
- Hindustan Motors to make new earthmoving equipment
`blackhoe loaders'. The machine will be produced in
collaboration with Fermec of the UK.
- The Company entered into a technical collaboration
Mitsubishi Motors Corporation, Japan for providing
assistance to the company for the manufacture of
- 86,432 shares were forfeited.
1996 - During the year, production suffered due to the stoppage of
by convoy drivers for about 71 days.
- The Contessa Classic model was phased out and a new
GLX with power steering, new seats & improved suspension
introduced. The company also introduced Contessa 2000 CC
- The Power Division of the company at Hosur produced more
1000 numbers of transmissions.
- The Auto Marketing Division was awarded ISO 9001
during the year.
- The Company has entered into an agreement in October,
Management Systems Inc., USA for Multi-point Fuel
System for Isuzu petrol engines being manufactured at
Company's Pithampur unit.
- The Company launched a project at Indore plant for
a Rural Transport vehicle in collaboration with Oka
- 33,900 No. of equity shares of Rs.10 each allotted
1997 - The company and the Association of Transport Contractors had
entered into an agreement with the convoy drivers,
they were assured of a minimum driving of 4,600 km per
- HM has entered into a tie-up with Mitsubishi Motors
(MMC) for manufacture of 20,000 MMC Lancer passenger
annually at Chennai, competing with Esteem and Cielo.
- Hindustan Motors Ltd (HML) has signed memorandum of
(MoUs) with several leading vendors in the country
Lucas-TVS Ltd and Wheels India Ltd in the south and VS
Ltd in the
north for procuring auto components for its `Lancer
- The company set up another facility at Pondicherry for
manufacture of smaller earth moving equipments in
collaboration with Fermec of UK.
- Hindustan Motors Ltd in technical joint venture with the
Australia-based OKA Motor Company will be launching its
multi-utility vehicle christened HMRTV in July.
- The Company launched an improved version of Ambassador
model with an improved engine.
- 525 No. of equity shares of Rs.10 each allotted during
1998 - MRF Tyres Ltd, the country's largest manufacturer of tyres
entered into an OEM partnership with Siel Honda Motors
- The board of Hindustan Motors Ltd (HM) proposes to make a
offer of both equity and/or fully convertible debentures
aggregate value not exceeding Rs.54 crore to the
- Hindustan Motors Ltd., announced the launch of the first
Transport Vehicle (RTV) from its factory at Pithampur.
- Hindustan Motors (HM) became the seventh automobile
sign the mandatory Memorandum of Understanding (MoU) with
government for manufacture of Lancer passenger cars in
collaboration with Japan's Mitsubishi Motors.
- 2,57,570 No. of equity shares of Rs.10 each issued on
basis (prop. 1:2). Another 6,400 shares kept in
1999 - The Credit Rating Information Services of India Limited has
downgraded the financial programmes of three major
companies, Hindustan Motors Limited, GKW Limited and
and Industries Limited. Hindustan Motors Limited's Rs
537.4-million fully convertible debenture issue has
downgraded by Crisil from A to BBB.
- Hindustan Motors Ltd (HM) will sign a memorandum of
(MoU) with Malaysia's national car manufacturer
Otomobil National Bhd, or Proton on Friday for the
- MALAYSIAN automobile major Perusahaan Otomobil Nasional
_ popularly known as Proton _ and Hindustan Motors Ltd
entered into an alliance for the assembly and
Proton's `Wira' model in India.
- Mahindra & Mahindra (M&M) has tied up with Hindustan
sourcing Isuzu petrol engines to fit them on its
2000 - Hindustan Motors launched two more variants of its Lancer
in a bid to strengthen its presence in the high-end car
Launching the SFX and SLX variants here, the company
sell about 10,000 units of the Lancer.
- From January, the Mitsubishi Lancer is available in
versions - Lancer GLX, Lancer SLX and Lancer SFX.
- Visteon Automotive Systems, a fully-owned subsidiary of
Motor Company, has been chosen by Hindustan Motors to
airconditioning parts to the Mitsubishi Lancer.
- The earthmoving equipment division of Hindustan Motors
received the QS 9000 certification. The certification
first of its kind bagged by any manufacturer of
construction equipment in the country.
- Crisil has withdrawn the ratings Automotive Axles and
the Rs 53.74 crore FCDs of
Hindustan Motors Ltd.
- The Company is selling its earthmoving equipment
division to Caterpillar Inc. of the
US. An agreement has been signed to sell the division
to the American earthmoving
- The Company has sold 504 Lancer units during December.
manufactures the Lancer in its Chennai facility under
licence from Mitsubishi
Motors of Japan.
2001 - Mr. A.C. Muthiah ceased to be a Director of the compay w.e.f.
- The Company has sold off its earthmoving equipment
divsion to M/s. Caterpillar
India pvt Ltd., on 9th Februrary located at Pondicherry
and Tiruvellur near Chennai.
- Hindustan Motor Ltd. formally launched its rural
transport vehicle (RTV) model in the
- For car buyers who always wanted to own a dream machine
on wheels, Hindustan Motors Ltd (HML) has now introduced
its unique my Lancer initiative. Customers can now choose from a
range of important features, such as a whole range of colour
palette choices, types of wheels embellishments etc.
-Firms up an arrangement with Ford India Ltd for supply of Engines
and Transmissions to them in a phased manner.
-Decreases the spare part prices of Mitsubishi Lancer, the prices
will be cut down at a range of 30-60% depending upon the spare
-Launches a new pick-up vehicle in the two tonne segment in
association with an Australia Company.
-Receives permission of the Automotive Research Association of India
for an LPG powered RTV.
-Launches Pajero, nation's first imported utility vehicle rated at
Rs. 33.85 lakh.
-Maruti Udyog Ltd, Daewoo Motors and Hindustan Motors enters into a
tie-up with Rohan Automotive Equipments Pvt Ltd for supply and
fitting of LPG dual fuel kits in cars.
-Regains its leadership position in the JD power Asia Pacific 2002
India Sales Satisfaction Index study.
-HM-Mitshubishi leads the List of Industries in the Sales
-General Motors awards a Letter Of Intent to the company for the
supply of power units to be fitted into their new model of utility
vehicles introduced by them.
-Appoints Mr Naresh Chandra as the Director on the Board of the
-IDBI nominates R Vasudevan as Director on the Board of Hindustan
-Board decides to accept the offer in terms of public announcements
to divest company's holding of 18.00.000 shares in Hindustan
-Embarks on exporting the CNG version of its old workhouse
'Ambassador' to Bangladesh
-Board decides to delist its ordinary stakes from the Delhi Stock
-Enters into an alliance with Sundaram Finance, Ashok Leyland Finance
and Bank of Punjab to offer loans for the Ambassador car.
-Launches new car 'Ambassador Grand'
-Truncates its Pajero prices from Rs.33 lakh to Rs.17 lakh.
-Slashes the price of Mishubishi Lancer to Rs.6.5 lakh.
-Mr. Kranti Sinha has ceased to be the nominee of Life Insurance
Corporation of India (LIC) but simultaneously has been co-opted as an
additional director on the Board of the Company in his individual
capacity both w.e.f. December 15, 2003. Mr. Subhash Chandra Jain has
been nominated by LIC on the BOD of the company as a rotational
director w.e.f. from the said date.
-Hindustan Motors (HM) has launched an upgraded range of the premium
mid-size car Lancer Invex
-HM launches new variant of Lancer
- Launches `LPG Ambassador' on April 19, 2005 in Chennai.
- Hindustan Motors Ltd (HM) has inked a pact with Shriram Properties
Ltd of Bangalore for the development of an integrated IT township and
an auto park in 314 acres of land specifically identified for the
purpose at Uttarpara and in accordance with the conditions laid down
by the West Bengal Government in its approval order dated September
- Hindustan Motors Ltd. has informed vide its letter dated September
19, 2007 that on resignation of Mr.G N Pareek, Company Secretary, Y
Goenka has been appointed as the Company Secretary. The contact
details are as follows:- Email ID: firstname.lastname@example.org Telephone
- In order to provide financing for its new mini truck 'HM - Shifeng
Winner', Hindustan Motors Ltd has signed a three-year pact with
Punjab National Bank (PNB) wherea under the MoU, PNB would provide
easy and attractive finance schemes for three years to customers
purchasing the 'Winner'.
- Shri Manoj Jha has been appointed as Managing Director of the
-Hindustan Motors launches mini truck
-Mr. Uttam Bose has been appointed as Managing Director of the
--Registered Office of the Company has been shifted to Birla
Building, 14th Floor, 9/1, R. N. Mukherjee Road, Kolkata - 700001
-Hindustan Motors Ltd Signs Memorandum of Agreement with Isuzu Motors
India Pvt. Ltd. in Chennai.
-Hindustan Motors launched BS IV-compliant vehicle Ambassador
-Hindustan Motors launched its Mitsubishi range dealership in
-Hindustan Motors Ltd. ties up with Raaj Unocal Lubricants Ltd.
-Hindustan Motors has signed a deal with United Bank of India.
-Hindustan Motors introduces Pajero Sport in India.
-Shri. Gautam Dutta has been appointed as a Director of the company.
-Hindustan Motors offers VRS for Uttarpara employees.