YEAR EVENTS 1945 - The Company was Incorporated on 20th June, at Mumbai. - The Company's object is to manufacture batteries and allied products and accessories. 1958 - 12,500 right equity shares issued at par in the prop. 1:2. 1962 - 7,500 Right equity shares issued at par in the prop. 1:5. 1967 - In July, 1967, 5,000 Bonus equity shares issued in the prop. 1:9. 1969 - Oldham & Son (India) Ltd., was amalgamated with the Company with effect from 1st April. 1970 - 10,000 bonus shares issued in prop. 1:5. 22,000 shares issued to members of Oldham & Son (India) Ltd. on its amalgamation with the company. 1973 - 20,500 Right equity shares issued in prop. 1:4. 1983 - Exports came down to Rs.2.22 crores due to imbalance of trade between U.S.S.R and India. - The Company concluded a technical collaboration agreement with the Oldham Batteries, Ltd., Denton, Manchester, U.K. to manufacture improved types of miners cap lamp batteries, metrhalarm and maintenance free stand-by range of batteries and their components. Collaborations were also on hand for up-dating the technology of industrial and submarine batteries. 1984 - Nackiketa Investments, Ltd., became a subsidiary of the Company. - The Company made a rights issue of 4,10,000 - 15% secured redeemable non-convertible debentures of Rs.100 each to augment long term working capital resources and to cover a part of the capital expenditure on the modernisation programme. - These debentures are redeemable at a prem. of 5% in four equal annual instalments commencing from 13th November, 1991. 1986 - The Company entered into a long term wage settlement with the Workers Union at Mumbai, to be effective from 1st February, 1988. 1987 - A new contract was signed with Oldham Batteries Ltd., for the supply of miners cap lamp. Implementation of the agreement with the Farukawa Battery Co., Ltd., Japan, and with Oldhman SA, France for industrial batteries commenced. - The Company signed a technical collaboration agreement with Hagen Batteries AG of West Germany for technical know-how on copper stretch material (CSM) batteries. - Authorised capital reclassified and increased. Equity shares subdivided. 1989 - The Company launched during December the second generation Standard Furukawa automotive batteries. - The Company also introduced upgraded capacity miners cap lamp, developed with technology from Oldham. 1990 - Sales turnover was lower at Rs.75.05 crores as compared to the previous year, mainly due to Gulf-war and mid stream policy changes in value addition norms for rupee exports to Russia, the chief importer of batteries. - Kanjur factory was being modernised to produce Type-I battery, designed by Hagen for new generation submarines of the Indian Navy. - The proposed modernisation programme of the Vakola factory and Guindy, Chennai was kept in abeyance due to the proposed re-location of the Vakola factory at Taloja. 1991 - In the industrial batteries group, the Company introduced state of the art low maintenance longer life batteries for the stationary and traction applications. - In the industrial batteries group, new products offering improved performance were introduced. The performance of mineric cap lamp batteries suffered due to low off-take from Coal India Ltd. - 10,25,000 right equity shares issued (prop. 1:1; prem. Rs.40 per share). Simultaneously, 51,250 No. of equity shares issued to employees/workers (prem. Rs.40 per share) only 18,450 shares taken up and the balance 32,800 shares allowed to lapse. 1992 - Turnover declined to Rs.84.48 crores mainly due to the lockout at the Vakola factory for about 10 months. - In spite of inflation, higher interest cost, recession in the automotive industry and lockout at Vakola factory with effect from 21st April to 7th May (which was lifted on 27th January 1993), sales turnover went up. 1993 - 82,37,800 right equity shares issued. (prop. 4:1, prem. Rs.10). 1998-99 - The business undertakings consisting of entire battery business of the company were sold to Exide Industries Ltd. with effect from 16/02/1998. 2010 -Company has Consolidates its Face value of Shares from Re.05 to Re 1.