Kirloskar Pneumatic Company Ltd

Kirloskar Pneumatic Company Limited (Erstwhile known K G Khosla Compressors Ltd.) a Kirloskar Group of Company was incorporated in Nov.74 as Khosla Compressors. Originally, the Company was promoted by K G Khosla. Kirloskar Pneumatic Company Ltd. acquired additional 20,51,000 Equity Shares of the Company pursuant to SEBI in 199899. During the year 2002, Kirloskar Pneumatic Company merged with the Company and the name was changed to Kirloskar Pneumatic Company Limited.KPCL is a diversified product Company serving key sectors viz. Industrial, Oil Gas, Infrastructure Food Processing markets. Presently, the Company is engaged into the business of Compression Transmission segments, primarily serving sectors of oil gas, steel, cement, engineering, food beverage by offering engineered products and solutions. The Compression segment is engaged in design, manufacture, supply and erection / commissioning of wide range of air, gas and refrigeration compressors, packages systems. The Transmission segment is engaged in design, manufacture and supply of railway traction gears and customized gearboxes for windmill, industrial and marine applications.The Company has started RoadRailer operations providing logistic services using rail network of Indian Railways with first and last mile operations carried on road. The Companys broad inhouse resources provide the capability to engineer, design, manufacture, construct, commission and service products and systems. Companys manufacturing facilities at Hadapsar, Saswad and Nashik are modern and investments have been planned to ensure that State of the Art manufacturing technologies will always be in place. Your Company has highly qualified and trained Service Personnel across India with Sales Service networks in place at strategic locations in India.The company suffered industrial unrest for a few years and the plant was locked out between Sep.91 and Jun.92. A revival plan was prepared in consultation with financial institutions, including raising of fresh capital. In Feb.94, the company came out with a rights issue at a premium to raise funds for a voluntary retirement scheme, for the reduction of a part of the highinterest borrowings and for longterm working capital. The revival plan has been successfully implemented.In 1997 the Company improved the technology for gas compressors with the help of IHI Limited, Japan. In second half of 19992000 the company had taken over the air compressors business of the Kirloskar Pneumatic Co Ltd., on licence. The company entered into a License Agreement with Kirloskar Proprietary Ltd to use the brand name Kirloskar on its products, letter heads, etc. which will help to promote its products in the market.Kirloskar Pneumatic Co. Ltd. (KPC) was amalgamated with the Company at the Court Convened Meeting held on March 9, 2002 through the Scheme of Amalgamation effective from June 4, 2002. Resulting to amalgamation being made effective, name of the Company changed from K. G. Khosla Compressors Ltd. (KGKCL) to Kirloskar Pneumatic Co. Ltd. w.e.f. June 4, 2002. Kirloskar Airtech Limited, a subsidiary of erstwhile KPC, ceased to be the subsidiary of the Company during the year 200102.During the year 200203, Demag Group was taken over by Siemens AG, Germany. The stake in Demag Kirloskar Compressors Pvt. Ltd., a joint venture company was sold to Siemens AG, Germany during the year 2003.During the year 200607, the Joint Venture Agreement between Kirloskar Pneumatic Co.Ltd. and McQuay International, USA, was terminated and the name of the Joint Venture Company i.e. Kirloskar McQuay Pvt. Ltd. got changed to Kirloskar Chillers Private Limited.During the year 200910, 1 MW range wind turbine gearbox was developed. Khosla Indair Limited a subsidiary of the company, ceased to be the subsidiary of the company during FY 200910. The Company delivered their argest Centrifugal Compressor based Refrigeration System for the first Coal Gasification Plant in India in 201112. It commissioned the Emergency Brake Distance Test (EBD) of one RoadRailer Rake for running of train.The Board of Directors of Company in its meeting held on 20 October, 2016 approved the Scheme of Arrangement and Amalgamation between Kirloskar RoadRailer Limited (KRL / the Transferor Company I), Pneumatic Holdings Limited (PHL/ the Transferor Company II), Kirloskar Pneumatic Company Limited (KPCL/ the Transferee Company) and their respective shareholders, which became effective from 28 April, 2017. Accordingly, Kirloskar RoadRailer Limited ceases to be Wholly Owned Subsidiary of Company and Pneumatic Holdings Limited ceases to be Holding Company of the Company. Upon the scheme becoming effective, the Assets and Liabilities of Kirloskar RoadRailer Limited and Pneumatic Holdings Limited got transferred to and vested into the Company with effect from 1 April, 2016, the Appointed Date of Scheme.During the year 201617, Company sold 1,65,000 (14.47%) equity shares of Kirloskar Chillers Private Limited. As a result of this, Kirloskar Chillers Private Limited ceases to be an associate company w.e.f. 29 December, 2016. A Joint Venture Company, Kirloskar AECOM Private Limited (KAPL) was incorporated on 10th February, 2018 to carry on business of Air Quality Control Systems (AQCS) during the year 201718.During the year 201819, the Company commenced operations by undertaking commercial runs of RoadRailer train from both Chennai and Delhi Divisions of Indian Railways. The Company subscribed to 1,60,000 equity shares of Rs. 10/ each of Kirloskar AECOM Private Limited (KAPL), and accordingly sold its entire shareholding of 1,60,000 equity shares of Rs 10/ each in the Joint Venture Company in December, 2018. Consequently, the name of KAPL was changed from Kirloskar AECOM Private Limited to SOX Control Solutions Private Limited as on 24th December, 2018. Thereafter, the Company also sold entire shareholding of 1,60,000 equity shares of Rs 10/ each in the SOX Control Solutions Private Limited on 22nd January, 2019 and the result, SOX Control Solutions Private Limited (Formerly Kirloskar AECOM Private Limited) has ceased to be Joint Venture Company.