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History of High Energy Batteries [Indias] Ltd.

YEAR EVENTS 1961 - The Comp. was Incorporated on 27th September, at Tiruchirapalli at Tamil Nadu.

- The Company object is to manufacture industrial & domestic meters, measuring & recording instruments, gadgets, tools and implements, indicators, electronic machinery & appliances and batteries.

1962 - Issued 16,700 No. of equity shares to directors etc. & 15,000 pref. shares to Insurance companies, 37,500 No. of equity shares to LIC, & 66,667 No. of equity to C.D.F.C. London. 15,000 pref. & 1,38,833 No. of equity shares issued to public in May.

1963 - 2,000 No. of equity shares forfeited for non-payment of calls in 1966-67.

1974 - Southern Electronics Pvt. limited was amalgamated with the Company with effect from 1st May.

- The Comp. holds all the 10,300 No. of equity shares of Rs.10 each issued by its subsidiary, Energy Investments Ltd.

- 1,99,359 No. of equity shares allotted to the members of Southern Electronics [Pvt.s] limited & 70,167 No. of equity shares held by Southern Electronics cancelled on its merger with the Company.

1976 - The Comp. received a letter of intent for manufacture of high energy batteries [Silver Oxide Zincs], required by Defence department, in collaboration with Yardney Electric Corporation, Inc., U.S.A. The plant was commissioned on 1st July 1979. The collaboration with Yadney Electric Corporation Inc. U.S.A. expired on 30th June, 1984.

- The Comp. received a letter of intent for manufacture of 7 mn. nos. per annum of sealed cylindrical nickel cadmium cells.

1977 - 30,000 pref. shares redeemed.

1979 - The Comp. undertook to develop nickel cadmium [Ni-cds] sealed cylindrical cells. A pilot plant was being established for developing initially 3 sizes of such sealed cylindrical cells popularly known as size `D', size `C'.

1982 - The Comp. received & installed all machinery. Pilot samples of NI-CAD cells were made successfull.

1983 - The Comp. undertook to develop Ah 350 batteries for use by Indian Navy.

- Towards the end of year, Mathur Investment Company, limited became a subsidiary of Company.

- Consequent upon the sale of Meter division, the name of Comp. was changed from Simco Metres, limited to the present one with effect from 12th September.

1984 - The Comp. developed a new generation of HR45 batteries & a substantially improved version of silver-zinc batteries for supply to IAF called Mark II.

1985 - 15% secured redeemable non-convertible debentures of the aggregate value of Rs.40 lakhs were privately placed with UTI to augment long-term resources & to meet a portion of cost of balancing equipment.

- These debentures are redeemable at a prem. of 5% in three equal annual instalments between the 6th & 8th year from the date of allotment, the earliest date of redemption being 4th March, 1992.

1986 - The Comp. received type approval for 7.2 Ah Nickel-Cadmium prismatic cell batteries.

- 4,47,192 bonus shares issued in prop. 1:1.

1987 - The Comp. installed & commissioned equipment for partial automation in the manufacture of positive electrodes for Silver Zinc batteries.

- The Comp. was exploring the possibility of acquiring the State-of-art-technology in the manufacture of Ni-cd electrodes.

1988 - The margins, however, were adversely affected mainly due to overall increase in the employer cost & selling & distribution expenses & higher provision for depreciation.

1989 - Turnover declined due to late receipt of orders for HR45 batteries from the Government.

- The Comp. proposed to undertake leasing business. The Company proposed to manufacture batteries for general consumer market. Negotiations were on only with foreign parties who would agree to buy-back the product to meet the cost of imports such as technical know-how, capital goods, etc. from the proceeds thereof.

1990 - The Indian Air Force couldn't place further orders for HR-45 batteries due to want of budgetary sanction.

- The Research & Development division developed quality fibre for fibre technology nickel cadmium batteries.

- 2,000 forfeited shares reissued at a prem. of Rs.5 per share to employees of company.

1994 - Development of very high capacity primary silver zinc battery was in advanced stage of development. Also the unit undertook development of INWGT secondary battery.

2007

-High Energy Batteries India Ltd delists equity shares from Madras Stock Exchange Ltd [MSEs] with effect from March 07, 2007.

- High Energy Batteries India Ltd has informed that Smt. D Vijayalakshmi, Nominee of Life Insurance Corporation of India was inducted as an Additional Director with effect from June 23, 2007. She is liable to retire & is to be elected in the ensuing Annual General Meeting.