Mysore Kirloskar Ltd.

YEAR                                                                  
              EVENTS
 
 1941 - The company was incorporated on 7th April 1941, at Harihar,
 Mysore. 
              The company manufactures machine tools & castings.  The
 other important
               products manufactured by the Company are geared-head &
 cone pulley 
               lathes, capstan & turrent lathes, hacksaw machines &
 power presses.  
               The companies products are marketed under the trade
 marks MK & Kirloskar.
 
 1984 - The company entered into a collaboration with Balding
 Engineering Company 
               U.K. for the manufacture of CNC machining centres &
 with Meceonica Nova, 
               Italy for the manufacture of NC/CNC internal grinders. 
 
 
 1988 - The company received a letter of intent to manufacture
 Aluminium Alloy Castings.
 
 1989 - The company received a letter of intent for manufacture of
 pollution control 
               system & equipments.
 
            - The company has started a joint venture under the name
 Kirloskar Snyder
               General Ltd. in technical and financial collaboration
 with the US company Snyder
               General Inc. to manufacture a complete range of
 pollution-control systems.  
               Both will have a 50% stake in the company.
 
            - The company has also entered into a technical
 collaboration with Linde AG of
               Germany for the manufacture of Waste Water Treatment
 Plants.
 
            - It has a subsidiary by the name of Precision Tooling
 Systems Ltd, in which it has 
              a holding of 51 per cent.
 
            - MKL is the leading exporter of lathes in the country. 
 The company is the first machine
              tool company in India to receive the ISO-9001
 certification by Reotuv Germany.
 
 1997 - The Company has already promoted a Company under the name
 Kirloskar Toyoda 
              Textile Machinery Ltd., (KTTM) in technical and
 financial collaboration with Toyoda
              Automatic Loom Works Limited, Japan, for the manufacture
 and sale of textile machinery. 
 
            - The Authorised Capital of  Company is Rs.150,000,000
 (Rupees One hundred Fifty
               million) consisting of 14,000,000 Equity Shares of
 Rs.10/- each amounting to 
               Rs.140,000,000 (Rupees One hundred Forty million) and
 1,000,000 Preference Shares of 
               Rs.10/- each amounting to Rs.10,000,000 (Rupees Ten
 million). 
 
            - Company has established a new division for the
 manufacture and sale of
               Cobalt Therapy Equipments for the treatment of cancer
 and to deal in other 
               medical equipments also.
 
 1998 - 2,50,000-14% Non-convertible Redeemable Debentures of Rs.100/-
 each
              privately placed with Financial Institutions, redeemable
 in three equal
              yearly instalments commencing from 4th November, 1996,
 at a premium of
              5% payable with the last instalment.
 
            - b) 1,00,000 - 20% Non-convertible Redeemable debentures
 of Rs. 100/-
              each, privately placed with SBI Mutual Fund, at premium
 of Rs.5/- each,
              redeemable in three equal instalments commencing from
 5th June, 1998 at
              a premium of 5%, payable with the last instalment.
 
           - c) 6,55,540 - 15.63% fully paid Partly Convertible
 Debentures of Rs.100/- each, 
              privately placed with ICICI, redeemable in 20 quarterly
 instalments commencing from 
              15th May, 1996.
 
            - d) 65,200-15.08% fully paid Non-convertible Debentures
 of Rs.100/- each, privately 
               placed with IFCI, redeemable in 20 quarterly
 instalments commencing from 15th
               May, 1996.
 
             - e) 5,67,750 - 16.63% fully paid Non-convertible
 Debentures of Rs.100/- each, privately 
                placed with IDBI, redeemable in 22 quarterly
 instalments commencing from 1st January,
               1996
 
 1999 - a) 2,50,000 - 14% Non-convertible Redeemable Debentures of
 Rs.100/- each privately 
               placed with Financial Institutions, redeemable in three
 equal yearly instalments 
               commencing from 4th November, 1996, at a premium of 5%
 payable with the last instalment.
 
            - b) 1,00,000- 20% Non-convertible Redeemable Debentures
 of Rs.100/- each, privately 
               placed with SBI Mutual Fund, at a premium of Rs.5/-
 each, redeemable in three equal
               instalments commencing from 5th June, 1998 at a premium
 of 5%, payable with the last instalment. 
 
            - c) 6,55,540 - 15.63% fully paid Partly Convertible
 Debentures of Rs.100/- each, privately
               placed with ICICI, redeemable in 20 quarterly
 instalments commencing from 15th May, 1996.
 
            - d) 65,200- 15.08% fully paid Non-convertible Debentures
 of Rs.100/- each, privately 
               placed with IFCI, redeemable in 20 quarterly
 instalments commencing from 15th May, 1996. 
 
            - e) 5,67,750 - 16.63% fully paid Non-convertible
 Debentures of Rs.100/- each, privately placed
               with IDBI, redeemable in 22 quarterly instalments
 commencing from 1st January, 1996. 
 
             - f) 5,02,807- Fully paid up Non-convertible Part B of
 Rs.44/- each of 12.5% Secured Redeemable
               Partly Convertible Debentures of Rs.100/- each, falling
 due on 1st June, 1998.
 
 2000 - Due to the shifting of operations from the company's Hubli
 plant to Harihar, there
              was a loss of production and consequently sales for a
 period of eight months.
 
            - During September, the company has entered into an
 agreement with
              M/s. 600 UK Limited, England for exports of substantial
 quantity of machines from
              April, 2001 onwards, which will improve sales of the
 company.