Maharashtra Scooters Ltd

The makers of Priya scooters, Maharashtra Scooters was jointly promoted by Western Maharashtra Development Corporation and Bajaj Auto. The company was incorporated at Pune in June 11, 1975 and came out with its first public issue in Nov.77. Presently, the Company sells products in India and is engaged in manufacturing dies, jigs, fixtures and die casting components primarily for automobiles industry etc. The company, at the time of inception, entered into a technical knowhow agreement with Bajaj Auto, the tenure of which was specified as 10 years from the date of commencement of commercial production or till the company achieved a total production of 3 lac scooters,whichever is later.Commercial production at its Satara plant commenced in Aug.76. Under the scheme of reendorsement of industrial capacity with reference to minimum economic scales of operation announced by the government, the company expanded the installed capacity of motorized twowheelers (350 cc engine capacity) during 198586. Further expansions have increased the installed capacity to 1.5 lac numbers in 199697. During 199899, the company installed a PretreatmentcumCathodic Electro Deposition Plant the plant is ecofriendly plant is expected to give boost to the product quality. In 19992000, the company was awarded ISO 9002 and ISO 14001 from Bureau Veritas Quality International (BVQI).In the year 200405, the company was awarded recertification of QMS as per ISO 9001/2000.With the cessation of production of geared scooters, the manufacturing activity of the Company, during the year 200607, was limited to the manufacture of pressure die casting dies primarily for two and threewheeler industry. The Company sold 2,402 finished units of scooters which were in stock as on 1st April, 2006.During the year 201920, pursuant to the Order passed by Honble Supreme Court of India on 9 January 2019, Western Maharashtra Development Corporation Ltd. (WMDC), one of the promoters of the Company transferred its entire 27% stake in the Company to Bajaj Holdings and Investment Ltd. (BHIL), the other promoter, on 17 June 2019. Consequent to this transaction, WMDC ceased to be the Promoter of the Company and the shareholding of BHIL increased to 51%. As a result, BHIL became the Holding Company and this Company became its subsidiary.During the year 202223, the business operations of the Company continued to be manufacture of die casting dies, fixtures and die casting components, primarily meant for the automobiles industry.