History of Kirloskar Oil Engines Ltd.

YEAR EVENTS 1978 - The Comp. was incorporated as a private limited Comp. on 13th June, as a wholly owned subsidiary of K.G. Khosla Compressors, limited The Comp. became a public limited Comp. on 9th October 1980.

- The manufacturing activities of Comp. are carried out at its two units at Ambad Industrial Estate, Nasik in Maharashtra. One of units of Comp. is a 100% export oriented unit which is designated as Khosla Compressors International & the other caters to the domestic market. The Comp. also holds an arrangement of marketing assistance with K.G. Khosla Compressors, Ltd.

- The company objects is to manufacture air compressors, gas compressors, accessories & diesel generating sets.

1985 - Land & buildings of Comp. were revalued as on 31st May.

1986 - 4,95,000 No. of equity shares issued as bonus shares on 8.5.1985 in prop. 1:1, 2,60,000 shares issued as rights in 1985-86. All shares held by K.G. Khosla Compressors, limited 50,000 - 11% pref. shares of Rs.100 each were redeemed on 30.1.1987.

1987 - 3,00,000 No. of equity shares issued at a prem. of Rs.20 per share out of which the following shares were reserved for pref. allotment:

- [1s] 15,000 shares to the employees [including Indian working directorss]/workers of Comp. [only 3,200 shares taken ups] & 30,000 shares to UTI [all were taken ups]. The balance 2,55,000 shares, along with the unsubscribed portion of 11,800 shares out of employees quota, were offered for public subscription during February 1988. Additional 30,000 shares were allotted to the public to retain over subscription.

1988 - Simultaneously, with the public issue of equity shares in February, the Comp. offered 1,10,000 - 14% secured redeemable convertible debentures of Rs.250 each of which the following debentures were reserved for preferential allotment: - [is] 5,500 debentures to the employees of Comp. [only 30 debentures taken up and - [iis] 11,000 debentures to UTI [all were taken ups]. The remaining 93,500 debentures along with the unsubscribed 5,470 debentures belonging to the employees quota were offered for public subscription. 11,000 additional debentures were allotted to retain over-subscription.

- A portion of Rs.150 of each debenture of Rs.250 was to be automatically & compulsorily converted into 5 equity shares of Rs.10 each at a prem. of Rs.20 per shares on expiry of 6 months from the date of allotment of debentures. The non- convertible portion of Rs.100 of each debenture would be redeemed at par in 4 yearly instalments of Rs.25 each at the end of the 7th, 8th, 9th & 10th year from the date of allotment of the debentures.

- Kirloskar Kisan Equipment limited is a subsidiary of company.

1993 - The Comp. along with Deutz Motor Industriemotoren GmbH, Germany [DMIs] set up a pvt. limited Comp. viz. Kirloskar Deutz sales and services Pvt. Ltd., with equity participation. The Comp. commenced its operation was coordinating the activities of exports of F2L912/913 engines manufactured by company.

1994 - In terms of revival scheme sanctioned by BIFR, Kirloskar Oil Engines, limited [KOELs] was merged with Prashant Khosla Pneumatics limited [PKPLs] effective 1st April & the amalgamation was to become effective from 1st March 1996, being the date of issue of new certificate of incorporation by Registrar of Companies, Maharashtra in the changed name of Kirloskar Oil Engines limited As per this, the issued & subscribed Capital shall stand reduced from 21,85,000 shares of Rs.10 each to Rs.10,92,500 divided into 21,85,000 No. of equity shares of Rs.0.50 each. Forwith upon such reduction, the aforesaid 21,85,000 No. of equity shares of Rs.0.50 each would be consolidated & divided in such a manner that 20 such shares of Rs.0.50 each shall constitute 1 equity share of Rs.10 each.

- Equity shareholder of KOEL would be allotted equity shares in the prop. of 1 equity share of face value of Rs.10 each for every equity share of Rs.10 each held by them in KOEL. Similarly preference shareholders were to be allotted 9,55,000 - 11% redeemable preference shares in the prop. 1 preference share of Rs.10 each for every preference share of Rs.10 each held by them in KOEL. The name of Comp. was changed to Kirloskar Oil Engines Ltd.

1995 - Approval from Government was received for setting up a project at Ambad, District Nasik in Maharashtra for manufacture of 300 units per annum of heavy duty large diesel generating sets. In this connection, a technical collaboration agreement was entered into with M.A.N.B and W Diesel GmbH, West Germany.

- The Comp. undertook to set up a power house for generation of electricity at Munirabad, Raichur district of Karnataka. The power generated was to be consumed in the state of Karnataka on the terms to be mutually agreed upon with KSEB or other parties to whom electricity was to be sold. Kirloskar Pielstick diesel generating sets would be used to generate power. The capacity of plant was 9 MW.

- 4,75,000 No. of equity shares of Rs.10 each issued to ICICI at a prem. of Rs.110 per share as per BIFR stipulation.

2000 - Crisil has upgraded the ratings assigned to the Comp. Rs. 1.4-crore & Rs 6.62-crore non-convertible debenture issues to `A-' from `BBB'.

- The Board has appointed Mr. Sanjay C. Kirloskar as Director & Vice-Chairman.

- Kirloskar Oil Engines is existing the 50:50 joint venture with Deutz of Germany. - The Comp. has expanded its board to 15 from the existing 10.

- The Comp. has bagged the Automotive Components Manufacturers Association Quality Award for 1999-2000.

- Kirloskar Oil Engines limited has been named the country best automotive components manufacturer by Automotive Components Manufacturers Association [ACMAs] for 1999-2000.

- The Comp. has launched its `Gen Power 2000 Project' in Guwahati in collaboration with Assam Allied Industries.

2001 - Kirloskar Oil Engines has launched a new range of ready-to-use gensets.

- The Comp. has informed that it has acquired 23.82 per cent of shares from Kirloskar Oil Engines Ltd.

2002

-Takes the entire stake held by Chatterji Group in Kirloskar Systems for Rs.40 cr.

-Board approves in principle, the proposal of merger of Kirloskar Power Supply Comp. Ltd with the company.

2003

-Becomes the first Comp. in the country to achieve compliance with the Central Pollution control Board mass emission & smoke norms.

-Board approves for allotment of shares to Erstwhile Kirloskar Power Supply Comp. Ltd in terms of scheme of amalgamation, subsequently it approves for buyback of 40,00,000 equity shares which do not exceed maximum amount of 10% of aggregate of company tota paid up capital.

-Approve the proposal of delisting of equity shares of Comp. from Pune stock exchange by passing special resolution.

-Better Value Holding Pvt Ltd acquires 4,41,239 shares amounting to 2.27% od the total paid up capital of company.

-Declares 'SLK Birth Centenary Year Special Interim Dividend' @ 50% on the equity shares of Comp. for year 2003-2004

2007

-Kirloskar Oil Engines limited has informed that the Company Registrars & Share Transfer agent viz. Intime Spectrum Registry Limited has shifted operations in respect of Comp. from its Mumbai office to Pune branch, at the following address: Intime Spectrum Registry Limited, Block No. 202, Akshay Complex, Off Dhole Patil Road, Near Ganesh Temple, Pune -411001.

-The Comp. has issued Bonus Shares in the Ratio of 1:1.

2009

- Kirloskar Oil Engines Ltd has appointed Mr. A N Alawani as additional director [Independent Directors] with effect from January 21, 2009.