Company History: YEAR EVENTS 1925 - The Company was incorporated at Mumbai. The main object of the Company is to manufacture cotton textiles drafting machines jigs tools fixtures and agricultural tractors.1960 - A new engineering division was established to manufacture drafting machines jigs tools fixtures and special machines.
1976 - 14 105 Bonus shares issued in prop. 1:2.
1979 - 14 105 Bonus shares issued in prop. 1:3.
1981 - In February a new unit at Ahmednagar for the manufacture of machine tool rehabilitation-cum-modernisation. After considering the submissions made by the concerned parties BIFR gave its sanction to the said scheme with minor modifications. The Company signed a memorandum of understanding with its labour union incorporating various terms and conditions as assigned by BIFR in the proposed rehabilitation-cum-modernisation package.
- The Company had set up Marketing Division for marketing a wide range of drawing office reprographic equipment and machine tool accessories.
1982 - New models of drafting machines were introduced.
1983 - The Company secured a right to manufacture a range of paper shredders.
1984 - The new range of paper shredders were introduced in the market. The first phase of automation of the internal grinding machines were developed to meet the completed.
1985 - New drafting machines were developed to meet the competition at home and also to cater to exports market. Subcontracting jobs were accepted for better capacity utilisation and for increased turnover.
1986 - A colour feeding pump for textile mills was introduced.
1987 - The different models of chairs were developed and the Company's R & D undertook the design and production of imported German model of paper shredders viz. sympathic 100 hitherto imported. Also a new type of cabinet for the said model was introduced.
- The textile division remained closed since 25th August due to labour unrest. It was reopened on 5th August 1989 but it was decided to keep the entire weaving shed closed.
1989 - As per the scheme of rehabilitation the promoters stake in the equity capital was to be increased by Rs.50.0 lakhs. Accordingly 50 000 No. of equity shares of Rs.100 each were to be allotted to them in due course. By the end of March promoters had already brought in an amount of Rs. 25 25 000.
1990 - During 1990 and 1991-92 Engineering division incurred loss due to high input cost and low sales realisation.
- As per the terms of rehabilitation scheme 38 750 shares allotted to promoters.
1991 - The Company had submitted a revised scheme to IFCI after taking into account the market conditions.
- Raja Bahadur Motilal Export Import Ltd. is a wholly owned subsidiary of the Company.
- Some of the fixed assets of the textile and engineering division were revalued as on 30th June 1985. The net surplus arising out of this was credited to Revaluation Reserve.
