History of Birla Power Solutions Ltd.
YEAR EVENTS 1984 - The Comp. was incorporated on 27th April, at Mumbai. The Comp. was promoted jointly by Tunghabhadra Industries limited and Yamaha Motor Co. limited The Comp. manufactures portable generators and multi-purpose engines.
- The Comp. entered into a technical-cum-financial collaboration agreement with Yamaha Motors Co. Ltd [YMCLs] of Japan on 31st August, YMCL were to provide knowhow and technical information for implementation of Company project & for manufacture of portable generating sets.
- The portable generator sets & engines produced by Company would be in the range of 0.5 KW to 4.0 KV. In case of generators, the Comp. adopted the self excitation brushless system which would render the process immune to dust, humidity & other vagaries of atmospheric conditions.
- For the manufacture of multi-purpose engines, the process adopted is the condensor discharge ignition which would eliminate unwanted parts resulting in better fuel efficiency & low maintenance costs.
1985 - 160 shares allotted to promoters, directors, etc. 79,99,840 shares then issued at par out of which the following shares were reserved & allotted: 20,80,000 shares to Yamaha Motor Co. Ltd., Japan, 20,79,840 to Tungabhadra Industries Ltd., other associate Indian companies, directors, etc. & 11,290,000 shares to Pratap Malapani [a non-resident Indian associate of the promoterss]. Out of remaining 27,20,000 shares, 1,36,000 shares to the Company employees including working directors & 54,400 shares to business associates were reserved and allotted on a preferential basis. The balance 25,29,600 shares were offered for public subscription during November/December.
1986 - In order to ensure, continuous supply of power, an 850 KVA generator was also installed. The Comp. commenced trial production of LG 900 & 2000 model generators in April.
1987 - New modern generators such as LG 600, LG 900 AC & LG 2800 were introduced. Prototypes of multipurpose engines [part of Company product ranges] were also developed.
1989 - New range of products such as multipurpose engine, fogger and public address system were test marketed.
1990 - The Comp. came under the provisions of above mentioned Act due to erosion of fifty percent in its networth.
1992 - Production suffered to a great extent as one of key suppliers to the Comp. declared lock-out at their works twice during the year resulting in non-availability of components.
1993 - The Comp. launched a new model of genset of smaller capacity which operates on kerosene in order to satisfy market requirement of lower running cost genset.
- The Sales improved in spite of Road Transport Strikes. The Comp. opened several sales depots throughout the country and excise duty on portable gensets was reduced to 10% which resulted in improvement of overall performance of Company.
1994 - A new Kerosene model `BY 1000 K' launched by Comp. in April, for which market response is encouraging.
- The Comp. proposed to launch multi-purpose engines for the semi-rural/rural areas.
- The Comp. also proposed to deal in various types of electrical equipment viz. `Inverters' to cater to the middle-class household segment in the domestic market.
1995 - The Comp. introduced two new models of self start generators. Also introduced two new multi purpose engines namely Birla Power Birla Power Plus.
- 10,00,000 No. of equity shares issued to FIs against dues of simple interest. 3,51,500 shares [prem. Rs 20s] issued to foreign collaborator.
1996 - The Comp. launched two new models of self start portable generators & `Yamaha' brand of EF 6600 E [5.5 KWs] Electric start genset.
1997 - The Comp. was discharge from the purview of BIFR under the sic industrial companies [Sp. Provisionss] Act, 1965.
- 11,32,350 No. of equity shares issued to promoters at a prem. of Rs 58 per share on preferential basis.
- Turnover declined to Rs.70.48 crores due to general slack in the demand for consumer durables coupled with currency crisis in South Asian Countries which led to decline in Exports.
- Genset manufacturer Birla Yamaha would be launching single battery inverters in April.
- Birla Yamaha Limited, a joint venture of Yashowardhan Birla group & Yamaha of Japan, is making a preferential allotment of equity shares worth around Rs.10 crore to the promoters.
1998 - The Company turnover declined to Rs.69.39 crores due to the South East Asian Currency Crisis.
- The Comp. launched 4 stroke 600 watts LG 700 K model which received a favourable response.
1999 - Birla Yamaha is setting up a genset manufacturing facility in Himachal Pradesh, its second in the country.
- The Comp. has entered into a long term agreement with Yamaha & is concentrating on exports during the lean months, gives the Comp. the twin advantage of balancing manufacturing in addition to earning some additional revenue.
2000 - The Comp. have received 11,20,000 equity shares of company, jointly held by Mr. Sundrashan Malpani & Mr. Ashutosh Malpani both NRIs for transfer in the name of Transvestments Pte Ltd., [TPLs], Singapore an Overseas Corporate Body.
- The Comp. has introduced a range of eco-friendly generators under the brand, Birla Ecogen.
2002-Birla Yamaha Ltd has informed that Mr Vijay Agarwal has been appointed as an Additional Director of Company.
2004 Birla Power Solutions, a Yash Birla Group company, has tied up with Hindustan Petroleum Corp Ltd [HPCLs] to produce electricity generators, which run on LPG.
2007
Birla Power Solutions Ltd has informed that Mr. Biswajit Sarkar has been appointed as Chief Executive Officer [CEOs] of Comp. w.e.f. March 20, 2007.
- Birla Power Solutions Ltd has informed that the Board of Directors of Comp. at its meeting held on October 31, 2007, inter alia, has Appointed Mr. Kalyan Bhattacharya as Wholetime Director of Comp. for a period of three years w.e.f. November 01, 2007.
