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Hindustan Motors Ltd.

BSE: 500500 | NSE: HINDMOTORS | Series: NA | ISIN: INE253A01025 | SECTOR: Auto - Cars & Jeeps

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Company History - Hindustan Motors
YEAR                                                         EVENTS
 1942 - The Company was incorporated on 11th of February, at Baroda.
 
            - The Company manufactures and Assembles Hindustan
 Ambassador cars,
               Bedford trucks, lion diesel engines, Harion shovels,
 scrapers and
               bulldozers, M.A.N cranes and all types of steel
 fabrications.
 
             - Hindustan Motor Corporation Limited, Uteco Limited are
 the
               companies subsidiaries.
 
 1945 - 48,75,000 shares issued through a prospectus, of which
 existing
             shareholders subscribed for 9,75,000 shares and the
 directors and
             their friends for 24,00,000 No. of equity shares. 
 Remaining
             15,00,000 shares offered to public.
 
 1959 - The company entered into an agreement with Universal Marion
 S.A.,
              Switzerland and the Marion Power Shovel company for the
              manufacture and sale in India of 93M crawler mounted
 diesel
              powered excavators and components; with the Caterpillar
 Tractor
             Company, USA, for the manufacture and sale of bulldozers
 and
             scrapers; with M.A.N. Nuremberg for the manufacture and
 sale of
              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
 issue
              till March 1970 and in February, 1971, 21,94,201 Bonus
 Equity
              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
 loaders, crawler
              tractors, etc.
 
 1980 - Authorised capital reclassified.  Dividend on pref. shares
 raised
              to 11% w.e.f. 7.6.1980.  21,455 pref. shares redeemed.
 
 1983 - The Government approved the company's proposal to increase
 its
              production capacity of passenger cars to 50000 units per
 annum
              out of which 20000 were to be produced in Madhya
 Pradesh.
 
 1984 - In January the company launched its new passenger car
 Contessa
              with a new aero dynamic body.  A technical collabration
 agreement
              was entered into with Isuzu Motors Ltd, Japan for the
              manufacture of TROOPER a general utility vehicle.
 
           - Another collaboration was entered into with Caterpillar
 of USA
             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
 tyre mounted
              mobile cranes (hydraulic telescopic boom) ranging from
 a
             capacity of 20 tonnes to 60 tonnes. 
 
           - HM set up a plant at Hosur, Tamil Nadu for manufacture of
 heavy
             duty transmission required for earthmoving equipment
 (Power
             Products Division).
 
          - The company entered into an collaboration agreement with
             Caterpillar Tractor Company (CAT) of USA for the
 manufacture of
             earthmoving equipment.  The 50 tonne dumper was launched
 in
             October.
 
 1986 - There was also acute power shortage.  During the year,
 crawler
               tractors and front end loaders based on caterpillar
 technology
              were introduced.
 
           - The name of Hindustan Motor Corporation Ltd., was changed
 to
              Hindustan Motor Finance Corporation Ltd., with effect
 from 24th
              November.
 
           - 131,65,208 Bonus equity shares issued in prop. 1:1, as
 on
              29.4.1986.
 
 1987 - The company introduced during the year 85 tonnes dumper on
              caterpillar technology.
 
            - During August-September the company issued 3300000 - 14%
 secured
    
 1988 - The company entered into an agreement with Birla Technical
              Services Ltd (BTS) a unit National Engineering
 Industries Ltd.,
              for services and supply of materials for modernisation
 of
              Rourkela and Durgapur steel plants.
 
            - Also, another agreement was entered into with Ricardo
 Consulting
              Engineers, U.K. for modernisation of Ambassodor petrol
 and diesel
              power trains.
 
            - 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
 company
              at Tamil Nadu called Hindustan Power Plus Ltd.
 
           - The Company had entered into collaboration with Twin Disc
 Inc.,
              (TDI) of USA for a specific line of transmissions, the
 technology
              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
 shareholders in
             prop. 2 debentures : 23 equity shares.  All were taken
 up. 
             Additional 3,43,746 debentures were allotted to retain
             oversubscription.
 
           - Simultaneously 1,15,000 - 12.5% parly convertible
 debentures of
             Rs.200 each were offered to employees (including working
             directors)/workers of the Company on an equitable basis. 
 Only
              7,550 debentures taken up.  The balance 1,07,450
 debentures were
             allotted to Canbank Mutual Fund with the permission of
 the
             Controller of Capital Issues.
 
           - Rs.50 (Part-A) of the face value of each debenture was to
 be
             converted into 5 ordinary shares of Rs.10 each at par at
 the end
             of six months from the date of allotment of debentures.
 
           - Another Rs.50 (Part-B) of the debentures was to be
 converted into
             5 ordinary shares of Rs.10 each at par at the end of 12
 months
             from the date of allotment of debentures.  
 
          - The non-convertible portion (Part-C) of Rs.100 of each
 debenture
             was to be redeemed at par in 5 equal instalments of Rs.20
 each on
             the expiry of 5th, 6th, 7th, 8th and 9th year from the
 date of
             allotment of debentures.
 
 1990 - 137,93,730 No. of equity shares allotted at par on conversion
 of
              Part-A of 12.5% debentures.
 
 1991 - 137,93,730 No. of equity shares of Rs.10 each allotted at par
 on
              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
              international specifications.
 
           - Two new transmissions adopting caterpillar technology
 were
              introduced.
 
           - The Company proposed to enter into a joint venture
 agreement with 
             General Motors Corporation.
 
           - During Nov./Dec. 1992, the Company offered 539,17,876 No.
 of
             equity shares of Rs.10 each for cash at a prem. of Rs.5
 per
             share, prop. 1:1 (all were taken up).  2,97,732 shares
 were kept
              in abeyance.
 
 1993 - A new version of Ambassador 1800 ISZ which has a power train
             manufactured at the company's factory at Pithampur, M.P.
 based on
             Isuzu technology.
 
           - Production at the auto division was only marginally
 higher due to
             production constraints in the later part of the year. 
 The
             division developed and indigenised a two litre diesel
 engine
             based on Isuzu technology.
 
          - The joint venture between the Company and General Motors
 was
             launched.  A joint venture agreement was signed and a new
 Company
             under the name General Motors India Ltd. was incorporated
 with
             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
 9001
             certification.  Company has introduced a new version of
             Ambassador (Amabassador 1800 ISZ) Car.
 
          - Hindustan Motors Ltd., has launched its environment
 friendly
            compressed natural gas(CNG)/petrol bi-fuel Ambassador car.
  The
            company also has plans to introduce Ambassador and
 Contessa
            Classic cars fitted with catalytic converters, which will
 be
             suitable for lead free petrol in the four metros by 1
 April.
 
          - The passenger car division of Hindustan Motors Limited,
 has been
             awarded the coveted ISO 9001 certificate by the Indian
 Register
             Quality System.
 
            - The power products division of Hindustan Motors Limited
 (HML) has
              developed a prototype of a fuel-efficient automatic
 transmission
              system which the company wants to market to on-highway
 vehicles
              i.e., trucks and buses.
 
            - Hindustan Motors Limited, the CK Birla flagship company,
 is all
              set to enter the small car segment.
 
            - Hindustan Motors to make new earthmoving equipment
 called
              `blackhoe loaders'.  The machine will be produced in
 technical
              collaboration with Fermec of the UK.
 
           - The Company entered into a technical collaboration
 agreement with
              Mitsubishi Motors Corporation, Japan for providing
 technical
              assistance to the company for the manufacture of
              Mitsubishi-Lancer Car.
 
            - 86,432 shares were forfeited.
 
 1996 - During the year, production suffered due to the stoppage of
 work
              by convoy drivers for about 71 days.
 
           - The Contessa Classic model was phased out and a new
 Contessa 1.8
             GLX with power steering, new seats & improved suspension
 was
             introduced.  The company also introduced Contessa 2000 CC
 Diesel. 
 
          - The Power Division of the company at Hosur produced more
 than
             1000 numbers of transmissions.
 
           - The Auto Marketing Division was awarded ISO 9001
 certification
              during the year.
 
            - The Company has entered into an agreement in October,
 with Fuel
               Management Systems Inc., USA for Multi-point Fuel
 Injection
              System for Isuzu petrol engines being manufactured at
 the
              Company's Pithampur unit.
 
            - The Company launched a project at Indore plant for
 manufacture of
               a Rural Transport vehicle in collaboration with Oka
 Motor Company
               of Australia.
 
            - 33,900 No. of equity shares of Rs.10 each allotted
 during year.
 
 1997 - The company and the Association of Transport Contractors had
              entered into an agreement with the convoy drivers,
 whereby,
               they were assured of a minimum driving of 4,600 km per
 month.
 
            - HM has entered into a tie-up with Mitsubishi Motors
 Corporation
              (MMC) for manufacture of 20,000 MMC Lancer passenger
 sedan cars
              annually at Chennai, competing with Esteem and Cielo.
 
            - Hindustan Motors Ltd (HML) has signed memorandum of
 understanding
              (MoUs) with several leading vendors in the country
 including
              Lucas-TVS Ltd and Wheels India Ltd in the south and VS
 Ltd in the
              north for procuring auto components for its `Lancer
 MG41' car
              model.
 
           - The company set up another facility at Pondicherry for
              manufacture of smaller earth moving equipments in
 technical
              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
 Diesel
              model with an improved engine.
 
            - 525 No. of equity shares of Rs.10 each allotted during
 the year.
 
 1998 - MRF Tyres Ltd, the country's largest manufacturer of tyres
 has
             entered into an OEM partnership with Siel Honda Motors
 and
             Hindustan Motors.
 
           - The board of Hindustan Motors Ltd (HM) proposes to make a
 public
              offer of both equity and/or fully convertible debentures
 for an
              aggregate value not exceeding Rs.54 crore to the
 existing
              shareholders.
 
            - Hindustan Motors Ltd., announced the launch of the first
 Rural
              Transport Vehicle (RTV) from its factory at Pithampur.
 
            - Hindustan Motors (HM) became the seventh automobile
 company to
             sign the mandatory Memorandum of Understanding (MoU) with
 the
             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
 rights
              basis (prop. 1:2).  Another 6,400 shares kept in
 abeyance issued.
 
 1999 - The Credit Rating Information Services of India Limited has
              downgraded the financial programmes of three major
 Calcutta-based
              companies, Hindustan Motors Limited, GKW Limited and
 Orient Paper
              and Industries Limited.  Hindustan Motors Limited's Rs
              537.4-million fully convertible debenture issue has
 been
              downgraded by Crisil from A to BBB.
 
            - Hindustan Motors Ltd (HM) will sign a memorandum of
 understanding
              (MoU) with Malaysia's national car manufacturer
 Perusahaan
              Otomobil National Bhd, or Proton on Friday for the
 assembly of
              Proton cars.
 
            - MALAYSIAN automobile major Perusahaan Otomobil Nasional
 Berhad
               _ popularly known as Proton _ and Hindustan Motors Ltd
 (HM)
               entered into an alliance for the assembly and
 manufacture of
               Proton's `Wira' model in India.
 
            - Mahindra & Mahindra (M&M) has tied up with Hindustan
 Motors for
               sourcing Isuzu petrol engines to fit them on its
 utility
               vehicles.
 
 2000 - Hindustan Motors launched two more variants of its Lancer
 model
              in a bid to strengthen its presence in the high-end car
 market.
              Launching the SFX and SLX variants here, the company
 expects to
              sell about 10,000 units of the Lancer.
 
            - From January, the Mitsubishi Lancer is available in
 three
              versions - Lancer GLX, Lancer SLX and Lancer SFX.
 
           - Visteon Automotive Systems, a fully-owned subsidiary of
 Ford
              Motor Company, has been chosen by Hindustan Motors to
 supply
              airconditioning parts to the Mitsubishi Lancer.
 
            - The earthmoving equipment division of Hindustan Motors
 Ltd. has
               received the QS 9000 certification.  The certification
 was the
               first of its kind bagged by any manufacturer of
 earthmoving and
               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
               equipment major.
 
            - The Company has sold 504 Lancer units during December. 
 The Company
               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.
 December 19.
 
            - 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
              Maharashtra market.
 
           - 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.
 
 2002
 
 -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
 parts.
 
 -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
 satisfaction.
 
 -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
 Company.
 
 -IDBI nominates R Vasudevan as Director on the Board of Hindustan
 Motors.
 
 2003
 
 -Board decides to accept the offer in terms of public announcements
 to divest company's holding of 18.00.000 shares in Hindustan
 powerplus Ltd.
 
 -Embarks on exporting the CNG version of its old workhouse
 'Ambassador' to Bangladesh 
 
 -Board decides to delist its ordinary stakes from the Delhi Stock
 Exchange.
 
 -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
 
 2005
 
 -HM launches new variant of  Lancer
 
 - Launches  `LPG Ambassador' on April 19, 2005 in Chennai.
 
 2007
 
 - 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
 13, 2006.
 
 - 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: hmcosecy@hindmotor.com Telephone
 Nos: 033-2242-0932/0930.
 
 2009
 
 - 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'.
 
 2010
 
 - Shri Manoj Jha has been appointed as Managing Director of the
 Company.
 
 -Hindustan Motors launches mini truck
 
 2012
 
 -Mr. Uttam Bose has been appointed as Managing Director of the
 Company.
 
 --Registered Office of the Company has been shifted to Birla
 Building, 14th Floor, 9/1, R. N. Mukherjee Road, Kolkata - 700001 
 
 2013
 
 -Hindustan Motors Ltd Signs Memorandum of Agreement with Isuzu Motors
 India Pvt. Ltd. in Chennai.
 -Hindustan Motors launched  BS IV-compliant vehicle Ambassador
 Encore.
 -Hindustan Motors launched its Mitsubishi range dealership in
 Hyderabad.
 -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.
 
 2014
 
 -Shri. Gautam Dutta has been appointed as a Director of the company.
 
 2015
 -Hindustan Motors offers VRS for Uttarpara employees.