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Home > Equity Market > Atlas Cycles (Haryana) Ltd. share price- Company History >

Atlas Cycles (Haryana) Ltd. share price- Company History

Industry: Cycles & Accessories
BSE Code :505029
NSE Code :ATLASCYCLE
Business Group:Not Applicable
LTP (Rs.)
ISIN No :INE446A01017
Face Value/M Lot :10.00/1
P/E Ratio : 31.44
Market Cap : 87.17 Cr
The company history sections lists out major chronological events that happened to the company.
YEAR EVENTS 1950 - The Company was incorporated on 31st May, at Sonepat.

- The Company's objects is to manufacture bicycles and bicycle components and parts. Some of the trade names used by the company are `ATLAS', `ARMY', `EASTERN STAR' and `ZEBRA'. The factory is located at Sonepat, near Delhi, and the factory buildings cover an area of about 2,50,000 sq. ft.

- The capital structure in 1956. 3,144 pref. shares fully paid-up 160 pref. shares 90% paid-up 255 pref. shares 50% paid-up.

1969 - The Company sponsored a scheme for the manufacture of powered bicycles in technical collaboration with S.A.C.E.M. of France, one of the largest manufacturers of powered bicycles under the trade name `Velosolex'.

- 1,10,000 bonus equity shares issued in the prop. 1:2.

1970 - A new company under the name and style of Atlas Auto-Cycles Ltd., was registered as a subsidiary of the company for this purpose on 9th March. This company was to manufacture 50,000 powered bicycles per annum. The company obtained Governments approval for investing Rs.10 lakhs in the equity capital of Atlas Auto-Cycles Ltd.

1971 - The Collaboration agreement for the manufacture of powered bicycles was unilaterally terminated by the foreign collaborator on technical grounds.

1972 - In January, the factory entered into a technical collaboration agreement with an Iranian party who proposed to manufacture bicycles and bicycle parts. The company was to supply technical know-how etc. in consideration of some technical fees payable by the Iranian party.

- The Company also entered into another 10 year collaboration agreement with the National Development Corporation of Tanzania for the manufacture of bicycles in that country. This agreement was transferred to The National Bicycles Co., Ltd. Tanzania.

1977 - 2,00,000 bonus equity shares issued in prop. 5:11.

1978 - 1,10,000 bonus equity shares issued in the prop. 1:3.

1979 - Punjab and Haryana High Court approved the amalgamation of this subsidiary with the company with effect from 1st January.

- Authorised capital reclassified. 7,579 - 11% pref. and 1,29,337 No. of equity shares allotted to members of Atlas Auto-Cycles, Ltd. without payment in cash upon its merge with the company.

1985 - The Company went ahead with its tube mill project at Gurgaon (Haryana). A factory with a production capacity of 10,000 TPA of tubes, was under construction.

1986 - Land and buildings of the company were revalued as on 30th June, and the net surplus of Rs 789.06 lakhs arising out of this was credited to capital reserve.

1987 - 3,84,668 bonus equity shares issued in the prop. 1:2.

1990 - 6,856 - 11% pref. shares were redeemed as on 31st March, 1991.

1991 - 723 - 11% pref. shares redeemed. 4,71,250 No. of equity shares issued on part conversion of pref.

1992 - The company issued 494550 - 15% PCD of Rs.200 each on Rights basis. Of these Rs.130 of the face value of each debenture was converted into one equity share of Rs.10 each at a prem. of Rs.120 per share. Accordingly 471250 shares allotted.

- Balance Rs.70 of the face value of each debenture was to be redeemed at par in three instalments of Rs.25, Rs.25 and Rs.20 at the end of 7th, 8th and 9th year respectively from the date of allotment of debenture ie., on January 2000, 2001 and 2002 respectively.

1994 - A sophisticated latest technology tube mill for rolling bigger dia tubes was installed and commissioned.

- During October, November the company issued 8,25,000 - 12.5% second non convertible redeemable debentures of Rs.200 each with detachable warrants.

- Rs.200 of the face value of each debenture was to be redeemed in three equal instalments at the end of 7th, 8th and 9th year respectively from the date of allotment of debentures ie., November 2000, 2001, & 2002 respectively.

- Each warrant entitles the holder to apply for one equity share of Rs.10 each at a prem. of Rs.230 per share between expiry of 12 months from the date of allotment of debentures.

- 8,12,627 bonus equity shares issued in prop. 1:2.

1995 - A number of new sizes were added to the existing product range. A godown was opened in Delhi & at Pune for sale of tubing.

1996 - The performance of the second bicycle plant at Sahidabad showed an upward trend mainly due to the newly introduced `Laser' series of bicycles and aggressive marketing strategies etc.

- The third bicycle unit with a modern state-of-the-art plant is situated on 16 acres of land at Malanpur, district Bhind, Gwalior. It has fully automatic computer controlled debrassing pre-treatment and paint plant. Overhead conveyors running into kilometers have been provided for improved material handling. Also, specially designed ramps have been provided for loading and unloading of trucks.

- 7,87,937 No. of equity shares allotted (prop. Rs.5 per share) against detachable warrants along with 12.5% Right NCDs of Rs.200 each.

2000 - Noted Industrialist and Atlas Cycle Industries Ltd. president Bishamber Das Kapur passed away on 16th August night at the Escort Heart and Research Institute.

2001 - The name of the company be changed as `Atlas Cycles (Haryana) Ltd'.

2004

- Atlas ropes in Sunil Shetty, Sania Mirza as brand ambassadors

2005

-Atlas Cycles Haryana has recommended dividend at the rate of 45%

2006

-Atlas Cycles Haryana has recommend dividend at the rate of 45%

2007

-Shri Rajesh Khanna has been designated as Company Secretary & Compliance officer of the company.

2008

-Atlas Cycles Haryana has recommend dividend at the rate of 45%

2009

-Atlas Cycles Haryana has recommend dividend at the rate of 45%

2010

-Mr. Sanjeev Kumar has joined as Company Secretary & Compliance officer of the company.

2011

-Mr. Rajesh Kumar Kapoor has been appointed as CEO of the Company

2012

-Mr. Gagan Singhal has joined as Company Secretary & Compliance officer of the company.

-Mr. Mange Ram Agarwal has been appointed as CEO of the Company

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