Company History - Stone India
1931 - The Company was incorporated on 15th January, as a Private
Limited Company and was converted into a Public Limited
on 25th October, 1972.
- The main objective of the Company is to manufacture sale and
Service of train lighting equipment and related equipments
including dynamos, switchgear and alternators, pantograph for
electric locomotives and electrical multiple units,
element for locomotive boilers, ball and joints, return bends
brake regulating equipment for railway rolling stocks,
horsepower motors, complete air conditioning/ refirgeration
equipment for railways and buses, control panels, stators,
and traction Motors. The Company also manufactures certain
classified equipment for the government of India.
- The Company took over as a going concern the business of
agencies or braches of the then J. Stone & Co., Ltd. (a
incorporoated in the U.K.), carried on at Calcutta, Chennai,
Mumbai and other places in India and Ceylon. It also
a workshop in Calcutta to undertake the manufacture of
items of train lighting equipment, such as kent couplers,
junction boxes, light fittings and carriage fans.
1972 - Prior to November entire capital of Rs.53,57,000 was held by
Stona-Platt Overseas, Ltd. London. In November, 3,57,130
issued at par through a prospectus. Of these, 17,856 shares
reserved for subscription for cash by the Indian directors
employees of the Company. 3,39,274 shares offered to the
1976 - The name of the company was changed from Stone & Co. (India)
to Stone-platt Electrical (India) Ltd. During the year it
again changed to Stone India Ltd. during 1986-87.
1983 - The Company implemented the Railway's orders for freight
1984 - 5,95,220 bonus shares issued in prop. 2:3.
1986 - The Company developed a range of loco value systems for
1987 - However, these profits declined due to the upward revision of
administered prices of steel and non-ferrous metals, strike
the Central Government Public Sector undertakings in West
and low prices for many products.
1988 - A solar powered system for navigational buoys using the
photo sensing lanterns, charge controllers and maintenance
batteries was developed and launched.
- 9,92,033 bonus equity shares issued in prop. 2:3.
1991 - The company achieved allround improvement in its opertions,
despite the adverse effect of various factors like increase
costs and interest rates, cutback in the expenditures by some
important customers and severe competition.
- The Company is a subsidiary of Stone Platt Overseas Ltd. U.K.
is an important member of Stone-Platt Group which made
to the company technical assistance for the manufacture of
lighting and air-conditioning equipment. The company renewed
technical collaboration agreement with Svenska Aktiebolagest
Bromstregulator for the manufacture of break regulatings
equipment for railway rolling, stock. The Company also has a
technical collaboration agreement with L. Faively of France
the manufacture of Pantographs for electric locos and
multiples unit coaches.
- The Company had indigenously developed a design for AC
cooling fan. The Company had finalised a technical
agreement with Goldstar, Republic of Korea, for transfer of
technology of instrument cooling fans.
- 9,92,000 rights shares issued at par in prop. 2:5.
1992 - The Company issue 9,92,000 No. of Equity Shares Rs.10 each of
Rights basis in the ratio of two new Equity Shares for every
existing Equity Shares held in the Company.
1993 - The Company has entered into a Technical Collaboration with
WABCO, Netherlands for manufacture of C3W Distributor Valve
cast iron version for Railway Rolling Stock Brake System.
1995 - The Company has entered into technical arrangement with Avon
Polymer Products Ltd., U.K. to implement the Rubber Component
manufacturing Project at Thane.
1996 - During the year under review Doon-Valley Investment and
Company Ltd. ceased to be a subsidiary of the Company.
1997 - The company has been engaged in the manufacture of high
technology electrical and mechanical engineering equipment
the Railway's and Defence at its factories located at
Calcutta, and at Thane, Mumbai.
- The company came out with a public issue of 24,40,600 - 16
percent secured redeemable partly convertible debentures of
Rs. 50 each aggregating Rs. 12.20 crore
1999 - The Company has set up a rubber manufacturing plant, Skylark
Rubber Products, at Thane in Maharashtra.
- Stone India proposes to launch more new products in the
year in areas of railway braking systems, air-conditioning
secondary components for the defence sector.
2000 - The GP Goenka-controlled Stone India Ltd will be spun off into
new joint venture with a German arm of the US-based railway
equipment supplier Westinghouse Air Brake Co. Ltd, or Wabco.
- Westinghouse Air Brake Technologies Corporation Inc., USA has
agreed to form with the company a joint venture in India for
railway products business.
-IDBI chalks out rejig package for Stone India
- Stone India Ltd has informed that the Company has received an
initial development order for supply of 5 sets of 180 KVA Static
converter for Locomotive application to Indian Railways.
- The Company has received the order for End of Train Telemeter
(EOTT) device from Konkan Railway Corporation Ltd.
- The Company receives Order for Toilet System.
- The Company has entered into an exclusive co-operation with NRT Co.
of Korea to undertake Platform Screen Projects for Metros.
- The Company has executed a Memorandum of Understanding with Voith
Turbo Scharfenberg GmbH & Co, KG, Germany for Indian Railways Coupler
- The Company has recently executed a Memorandum of Understanding
with MELECS MWW GmbH & Co. KG, Austria for manufacturing and supply
of light weight pantograph for Metro Coaches in India.
-Stone India receives TDDP grant of Rs. 2.88 Cr for Bio-Toilet system
-Stone India appoints Shrivardhan Goenka as Non-Executive Director
with effect from August 14, 2013.
-Stone India receives LOA from DMRC for PSD
-Stone India receives major Bio-toilet order for ENBIOLET
-Stone India enters Escalator & Elevator Business
-Stone India receives first export order from China
-Stone India receives order for Computerised Brake System
-Stone India bags Rs 83 cr order from DMRC
-Stone India Ltd has Escalator business by bagging an order of
supply, installation and commissioning of 2 nos Escalators valuing
Rs.115 lakns from East Coast Railway
-Stone India bags Rs 939.6 lac order from Western Railway
-Stone India Ltd has signed an Agreement with Shenyang Brilliant
Elevator Group Co., Ltd., China, for forming a Joint Venture