YEAR EVENTS 1986 - The Company was incorporated on August 29th, by Dr. A.J. Prasad, K.S. Varaprasada Reddy and five others. The company obtained the certificate for Commencement of Business on 22nd September. - The Company's objects is to manufacture of Nickel Cadmium Pocket plate batteries. 1991 - The company undertook to set up facilities for the manufacture of uninterupted power systems (UPS) of 10 KVA and above with an installed capacity of 200 units per annum. It was also proposed to widen its range of manufacture of storage batteries to include products such as sealed lead acid batteries. The project is to housed alongside the existing facilities at Lalgadi, Malakpet village, Shameerpet Mandal, Ramga Reddy district, AP. - The company entered into an arrangement with NIFE, AB of Sweden for manufacture of UPS. The technology adopted was the transistorised pulse width modulation (PWM) as against thyristorised technology conventionally adopted. - 30,00,000 No. of equity shares issued to promoters of which 8,08,000 shares allotted to foreign promoters viz. NIFE AB, Sweden 30,00,000 No. of equity shares were then issued at par in February 1992 of which the following were reserved for allotment in preferential basis: - (1) 1,50,000 shares to employees (all were taken up); - (2) 2,70,000 shares to Swedfund on repatriation basis (all were taken up). Balance 25,50,000 shares were issued to the public. Another 4,50,000 shares allotted to retain oversubscription (53,800 shares to employees and 3,96,200 shares to public). 2002 -Mr P Satish Kumar appointed as Director of the Company. 2003 -The 4.03 per cent foreign promoter's stake in HBL Nife Power Systems Ltd, has been taken over by the promoters of the company 2004 -HBL Nife declared a dividend of 12% 2005 -HBL Nife mulls 3 new battery manufacturing facility -HBL Nife Power has recommended a dividend @ 15% 2006 -HBL Nife Power has recommended for the payment of Dividend @ 15% -Company has changed its name from HBL Nife Power Systems Ltd. to HBL Power Systems Ltd. -HBL Power Systems Ltd Issues Rights in the Ratio of 1:10 2007 -HBL Power Systems has recommended for the payment of Dividend @ 15% 2008 -HBL Power Systems has recommended for the payment of Dividend @ 15% 2009 -Hbl Power Systems sets up JV Company in Saudi Arabia to manufacture of Industrial Batteries. -Hbl Power Systems Recommended a dividend of Rs.3/- per equity share of Rs. 10 each. -Sub-division of equity shares from Rs. 10 per share into 10 shares of Rs. 1 each. 2010 -HBL Power Systems Recommended 30% dividend 2011 -HBL Power Systems has recommended 10% dividend 2012 -HBL Power Systems has recommended 15% dividend. 2013 -HBL Power Systems has recommended 15% Dividend. 2014 -The company has entered into a Share Purchase Agreement with Varp Power Private Limited, Hyderabad for acquisition of 26% shares i.e. 2600 shares of Rs. 10 each at face value aggregating to Rs. 26,000. 2015 -Best Vendor Award from HAL -Boost for Make in India as FAA clears two plane parts 2024 -The Company name has changed to HBL Engineering Ltd. from HBL Power Systems Ltd.