Samkrg Pistons & Rings Ltd. Company History and Annual Growth Details

YEAR EVENTS
1985 - The Company was incorporated on 30th March, at Hyderabad as a
public limited company and obtained the Certificate of
Commencement of Business on 18th July, 1985. It was promoted by
R.J. Yata and S.D.M. Rao alongwith Andhra Pradesh Industrial
Development Corporation Ltd. (APIDC). The Company manufacture
pistons and piston rings used in two-wheelers, three-wheelers,
four-wheelers and internal combustion engines.

- The Company entered into a technical collaboration agreement with
Cheng Shing Piston Co., Ltd., Taiwan (Cheng Shing) to manufacture
pistons and piston rings. Under the agreement, valid for six
years from the date of commencement of commercial production, the
collaborators were to provide updated technology for casting,
machining, and finishing of pistons and manufacture of piston
pins. The agreement also covers supply of designs, drawings and
specifications of plant and machinery.

- The Company undertook a project to set up a plant at Bonthapalli
in Medak district of Andhra Pradesh for the manufacture of six
lakh piston and piston pins per annum as per specifications of
two/three/four wheelers and IC engines by installing three
production lines with a capacity of two lakh numbers each. Two
of the three production lines were commissioned on 20th October,
1988.

- The Company also installed two generators having total capacity
of 250 KVA as a stanby arrangement.

1987 - 10,30,000 shares taken by promoters and 2,00,000 shares allotted
to APIDC.

1988 - The Company developed 21 models of piston assemblies with 80
ranges and established supplies to original equipment
manufacturers of two wheelers & stationery engines of
Japanese/Italian/European technologies.

- As a part of import substitutions plan, the Company successfully
developed piston assemblies for Kinetic Honda Scooters, LML Vespa
Scooters, Hero Honda motor cycles and Birla Yamaha generators.

- 14,00,000 shares issued at par of which the following shares were
reserved for preferential allotment:

- (i) 2,80,000 shares to NRIs on repatriation basis (only 22,600
shares taken up) and (ii) 1,32,500 shares to employees/workers of
the Company (none were taken up). The balance 9,88,500 shares,
along with the unsubscribed portion of 3,88,900 shares out of
preferential quota were offered for public subscription in
December 1988. Additional 2,06,200 shares allotted to the public
to retain oversubscription.

1992 - 1,40,000 No. of equity shares issued at par to promoters,
directors etc. on conversion of unsecured loans. 35,70,800
rights equity shares issued (Prop. 1:1).

- New piston ring assemblies were developed for Kinetic Honda,
Bajaj Scooters and 3 Wheelers, LML, TVS and Piston assemblies for
Bajaj 125cc, TVS 100cc, LML and KG 8T for Kinetic Honda and
Piaggio for export.

1993 - The Company achieved 99% capacity utilisation for pistons. New
piston ring assemblies were developed for Kinetic Honda, Bajaj
Scooters and 3 Wheelers, LML, TVS and Piston assemblies for
Bajaj 125cc, TVS 100cc, LML and KG 8T for Kinetic Honda and
Piaggio for export.

1994 - The Company successfully developed sophisticated piston ring
assemblies to meet the requirements of highly fuel efficient
Bi-wheelers as per DIN and JIS specifications like IKA and
DUCTILE IRON (KVI) and supplies to world denouned Bi-wheelers
companies, Bajaj Auto, Kinetic Honda, LML, TVS Suzuki, Hero Group
and Piaggio.

1995 - The Company achieved 141% capacity utilization of piston plant.
The Company developed sophisticated piston ring assemblies to
meet the requirements of highly fuel efficient Bi-wheelers as per
DIN & JIS specifications like IKA and DUCTILE IRON (KVI) and
supplied to world denounced Bi-wheelers companies, Bajaj Auto,
Kinetic Honda, LML, TVS Suzuki, Hero Group and Piaggio. The
Company achieved 135% capacity utilisation of Piston plant.

- The Company expanded its Piston plant capacity from 6 lakh Nos.
to 9 lakh Nos. per annum.

- The Company allotted 1,40,000 No. of equity shares at par to
promoters and their relatives in lieu of interest free unsecured
loans outstanding from them. 29,76,200 No. of equity shares at
par issued as rights in the proportions of 1:1. Another 1,48,810
No. of equity shares issued to the employees of the Company.
Additional 4,46,300 shares were issued to retain ovesubscription.

- 32,73,500 rights shares issued in prop. 1:2.

1996 - The Company achieved 111% capacity utilisation and successfully
developed sophisticated piston assemblies and piston rings to
meet the requirements of highly fuel efficient engines meeting
pollution norms of Bi-wheelers.

- The Company expanded its Piston plant capacity located at
Bonthapally from 9 lakh Piston Assemblies to 14.5 lakhs Piston
Assemblies per annum.

- The Company further expanded and set up another piston plant with
a capacity of 5.50 lakh piston assemblies per annum located at
Arinama Akkivalasa, Srikakulam - A.P.

1997 - The Company achieve 101% capacity utilisation of piston plant.

1998 - The Company has expanded its Rings Plant located at
Phdibhimavaram achieving a 81% capacity utilisation.

2001

-Samkrg Pistons and Rings Ltd (SPRL) has entered into a supply agreement with Honda Motorcycles and Scooter India (P) Ltd.

2004

-Samkrg Pistons and Rings Ltd has been certified for Quality Management System (QMS) under ISO/TS 16949:2002 by Underwriter Laboratories Inc of the US.

2005

-Samkrg Pistons has recommended dividend 50%

2006

-Samkrg Pistons has recommended Dividend 30%

2007

-Samkrg Pistons has recommended Dividend 35%

2008

-Samkrg Pistons has recommended Dividend 35%

2009

-Samkrg Pistons has been accredited with ISO 14001 : 2004 for Environmental Management System and BSI - OHSAS 18001: 2007 for Occupational Health and Safety Management System.

2010

-Samkrg Pistons has recommended Dividend 40%

2011

-Samkrg Pistons has recommended Dividend 45%

2012

-Samkrg Pistons has recommended Dividend 35%

2013

-Board has recommended a Dividend 25% i.e. Rs. 2.50 per equity share for the year 2013.

2014

-Board has recommended a Dividend of Rs.2.50/- per equity share of the face value of Rs. 10/- each i.e. 25% for the year 2014.

2018
-Company received Bajaj Quality Award 2018.
-Company received Honda Award for Quality & Delivery for the year.

2019
-Company received Quality Award "Gold" by Bajaj Auto Ltd.

Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article