Escorts Kubota Ltd Company History

After partition the Registered office of the Company was shifted from

Lahore to New Delhi. The name of the Company was changed from Escorts

(Agents) Pvt. Ltd., to Escorts Ltd. upon its conversion into a public

company.

The Company was Incorporated on 21st December, at Lahore. The

Company manufactures motor cycles, tractors, automotive parts, railway

shock absorbers, agricultural implements, X-rays equipment, heating

elements, etc.

The Company has been functioning as a representative of well-known

foreign manufacturers like M.A.N. Company of the United States, Massey

Ferguson of the United Kingdom and Canada and several others.

The Company has an all-round sales and service organisation and has

put up in conjunction with Garden Reach Workshops, Calcutta, a marine

service base for servicing ocean going vessels equipped with M.A.N.

promulsion and auxiliary engines. The Company has a network of

all-India dealers for sale of products manufactured by itself and by

its subsidiaries.

Capital structure reorganised. Equity and `A' Equity shares

converted into one class of Rs 10 each. 200 Pref. shares were

subscribed for. 2,000 Pref. and 17,500 No. of Equity shares allotted

to M/s. Mahle Komm-Ges, West Germany, against supply of machinery and

technical know-how. The remaining shares issued as rights. The new

pref. shares redeemable after 5 years from the date of issue at the

Company's option.

The Company commenced the manufacture of pistons and established at

Bahadurgarh, near Patiala, in collaboration with Mahle Komm-Ges Bad

Constatt, West Germany.

The Company undertook a phased expansion of the installed capacity of

pistons from 7,21,000 to 10,80,000 numbers per annum and the installed

capacity of piston pins from 6,60,000 to 9,90,000 numbers per annum.

The Company commenced commercial production of X-ray equipment,

railway shock absorbers and heating equipments in technical

collaboration with the Westinghouse Trading Co. (Asia) Ltd., New York,

Eheimmetall GmbH, West Germany and Eltra K. G., West Germany

respectively.

The Company entered into a technical collaboration agreement for the

manufacture of transmission and gears for Escort tractors with

Motoimport Warszawal, Poland, by outright purchase of drawings.

The Company acquired near its existing plant at Faridabad, an area of

23 acres together with 55,000 sq. ft. of built-up space at a cost of Rs

43 lakhs for scientific research activities.

1,229 Pref. shares in 1968 and 336 Pref. shares in 1969 subscribed

for. In Dec. 1969, 580,608 Bonus Equity shares issued in prop. 1:4.

25,000 9.5% `A' Pref. shares offered to public in Aug.1969 (redeemable

on 15-8-1981).

580,608 Right Equity shares issued at a premium of Rs 4 per share in

the proportion 1:5.

The Company undertook to set up a 100% export oriented unit for the

production of X-ray equipment in the Santacruz project area, in

collaboration with Compagnie General de Radiologie who brought over

Westinghouse Manufacturing Company, under the name CGR India Ltd., was

incorporated

17,41,824 Bonus Equity shares issued in the proportion 1:2.

31,35,283 Bonus Equity shares issued on 31-12-1977 in prop. 3:5.

The following contracts were secured for execution (i) Farm

implements manufacturing plant, (ii) Bicycle assembly plant and (iii)

Raw material sold to support PVC plant.

The Company concluded an agreement with Andhra Pradesh Scooters Ltd.,

to produce Rajdoot motorcycles in their plants at Hyderabad for

distribution in Southern States. The Company was to undertake, in due

course, production of scooters for Andhra Pradesh Scooters Ltd., for

distribution in Northern States.

50,16,453 bonus equity shares issued in prop. 3:5.

A new tractor model Escort-345 was introduced in the first quarter of

the year.

Towards the end of the year, Escort-355 tractor with three cylinder

and 47 HP engine was introduced.

The Company commissioned a project for the manufacture of 1,50,000 -

100 cc motor cycles per annum in technical collaboration with Yamaha of

Japan.

Other products proposed to be manufactured were paddy transplanters,

a small size tractor in collaboration with Japan, boilers and other

equipment for collection of bio-mass from straw and other agricultural

wastes.

Government approval was obtained for a new range of road construction

machinery i.e. paver finishers butimen distributors, aggregate

spreaders, pavement profilers, etc. Approval was sought for the

manufacture of vibratory compactors in collaboration with Dynapac of

Sweden.

During July the Company issued 20,00,000-15% non-convertible

debentures of Rs 100 each for Rs 20 crores and offered them as rights

to its resident Indian equity shareholders. The Company allotted a

further 10,00,000-15% debentures to retain the excess subscription. Rs

27.90 crores out of this issue of Rs 30 crores was utilised for working

capital and the balance Rs 2.10 crores for normal capital expenditure.

The Company undertook expansion of the installed capacity of shock

absorbers to 15 lakh numbers, in technical collaboration with Bilstein

AG of West Germany. The Company also introduced disk brakes for Indian

Railways.

It was proposed to introduce tractors with engine capacity below

1,800 cc for which excise duty exemption was announced.

The Company entered into a technical collaboration agreement with

Mercury Marine (Brunswick Group), U.S.A. for the manufacture of 24,000

outboard motors per annum.

The Company established facilities for the manufacture of nearly

5,000 line sets of electronic telephone exchanges (EPABX) in

collaboration with Jeumant Schneider of France.

The Company proposed to manufacture the fuel efficient Citroen 2

CV(6) car in collaboration with Citroen of France.

During February 15% secured redeemable debentures of the aggregate

value of Rs 5 crores were privately placed with Army Group Insurance

Fund.

During June the Company issued 10,00,000-12,5% fully convertible

debentures of Rs 350 each. Out of this, 3,00,000 debentures were

offered to the existing equity shareholders of the Company as rights in

proportion 1 Deb.: 71 No. of Equity shares (all were taken up).

Out of the remaining 7,00,000 debentures, the following debentures

were reserved for preferential allotment; (i) 50,000 debentures to

employees and working directors of the Company and (ii) 1,40,00

debentures to non-resident Indians on repatriation basis. The

remaining 5,10,000 debentures, along with the unsubscribed portion of

1,03,085 debentures were offered for public subscription during June.

Additional, 2,50,000 debentures were allotted to retain over

subscription. (75,000 debentures to equity shareholders of the Company

and 1,75,000 debentures to the public).

As per the terms of the issue, on 31st December, Rs 175 was converted

into 5 fully paid-up equity shares of Rs 10 each at a premium of Rs 25

per share and on 30th June, 1988, the remaining Rs 175 was converted

into 5 fully paid-up equity shares of Rs 10 each at a premium of Rs 25

per share.

80,26,325 bonus equity shares issued in prop. 3:5 and were allotted

on 30.3.1987. All Pref. shares redeemed on 30.11.1987. 62,50,000 No.

of equity shares allotted (prem. Rs 25 per share) on 31.12.1987 in

conversion of debentures.

62,50,000 No. of Equity shares issued (prem. Rs 25/- per share) in

conversion of 12.5% debentures.

The Company privately placed with financial institutions

35,00,000-14% secured redeemable non-convertible debentures of Rs 100

each. The debentures are redeemable in three equal instalments on the

expiry of the 6th, 7th and 8th years from the date of allotment of the

debentures.

The new products i.e., 3 cylinder engine tractor and a 50cc Moped

were launched.

Escorts 40 H.P. and two models of Farmtrac, VIZ 50 and 60 H.P.

tractors were introduced. The Company combined all synagestic product

activities in Escorts group of companies into independent and

autonomous entities.

Escorts Tractors Ltd. was merged with the company effective 1st

April. The shareholders issued 3 equity shares of the company for

every two equity shares of erstwhile Escorts Tractors Ltd. Accordingly

227,75,452 No. of equity shares of the company was allotted.

Escorts JCB Ltd., Escorts Class Ltd., Escorts Automotive Ltd.,

Escorts Herion Ltd., Escorts Communications Ltd., Escorts Construction

Equipment Ltd., Escorts Finance Investments & Leasing Ltd. are all

subsidiaries of the Company.

27,04,226 No. of Equity shares (prem. Rs 130.17) allotted to

promoters on conversion of warrants. 22,775,452 shares allotted to

shareholders of erstwhile Escorts Tractors Ltd.

The Company proposed to set up a joint venture company with equity

participation from Mahle GmbH (Germany). Piston manufacturing activity

of the company was proposed to be transferred to the said joint venture

company.

The Company has decided to form a joint venture to manufacture shock

absorbers. Company is at advanced stage of negotiations with M/s.

COFAP of Brazil.

Company has decided to Spun off Escorts Hospital & Research Centre

into a seperate corporate entity.

The Escorts Employees Ancillaries Ltd. manufactures carburettors

presently catering to the needs of Rajdoot motorcycles. More

components like nipples, spokes, etc., were being added with technical

know-how from Japanese manufacturers.

56,56,381 No. of equity shares allotted on conversion of warrants at

a price of Rs 35 per share. 1,24,059 No. of equity shares allotted on

conversion of warrants issued to the shareholders of erstwhile Escorts

Tractors Ltd. at a price of Rs 33.33 per share.

The Company undertook to set up a tractor plant with a capacity of

18,000 tractors p.a. with a total cost of Rs 200 crores at Ranjangaon

in Maharashtra.

The Company has entered into a joint venture with Carraro SPA of

Italy and promoted a joint venture company under the brand name Carraro

India Ltd. to manufacture transmission to be used in its higher HP

range of tractors at a cost of Rs 110 crores.

83,956 shares issued against warrants of erstwhile Escorts Tractors

Ltd. 28,17,456 No. of equity shares issued on conversion of warrants.

Escorts Ltd has recently entered into a joint venture agreement with

Yamaha Motor Co Ltd of Japan for setting up a new venture Escorts

Yamaha Motor Ltd (EYML) on the basis of equal participation in capital.

Escorts has also signed a 50:50 joint venture agreement with Mahle

GmbH of Germany to manufacture automotive and railway pistons, gudgeon

pins. This venture would take over Escorts existing plant in Bangalore

and Patiala.

The Rs.2,900-crore Escorts group of companies is setting up a

Rs.250-crore industrial complex at Ranjangaon in Pune.

Hughes Escorts Communications (HECL) a joint venture between Hughes

Network Systems Inc (HNS) and Escorts, announced a tie-up with

Datacraft RPG to market satellite based wide area communications

solutions. Under the agreement, Datacraft RPG will be a marketing

associate, offering HECL's V-sat based communications network as part

of the integrated solutions designed for its customers.

Escorts Ltd. transport and agri-equipment company, is exploring the

possibility of tying up with Yanmar of Japan for manufacturing high

speed paddy transplanters in India.

Escorts Yamaha Motor Ltd. (EYML), launched a brand new motorcycle,

the RXZ.

Escorts Yamaha Motor Ltd (EYML), has been awarded the ISO-9001

certificate by TUV Bayern for its manufacturing facility at Faridabad.

Carraro India Ltd, a 51:49 joint venture between the $200-million

Carraro SpA of Italy and the Rs 1,650 crore Escorts ltd, has tied up

its entire debt with IFC Washington and Exim bank.

The company has signed an MoU with Long Manufacturing Inc.

Close on the heels of the introduction of sporty look Yamaha RXZ late

last year, SMM Escorts and Escorts Yamaha Motor Limited (EYML), the

joint venture between Escorts Limited and the Yamaha Company Limited of

Japan have launched yet another new model - Yamaha RX-135 - in

Maharashtra.

Escorts Limited, the flagship company of the Rs.3,500 crore Escorts

Group, which is engaged in the manufacture of tractors, has signed an

MoU (Memorandum of Understanding) with an American company at North

Carolina to acquire 49 per cent equity worth $9 million.

Escorts Yamaha has launched Yamalube, a two-stroke motor oil,

developed by Yamaha Motor Corporation, Japan.

The Company's turnover declined to Rs.1319.70 crores due to depressed

market conditions.

The Company launched a new `Powertrac' range of tractors with vastly

improved engine performance, fuel consumption and meeting the emission

norms not only in the domestic markets but also complying with very

stringent EPA norms prescribed in the USA and other overseas markets.

10,96,672 No. of equity shares of Rs.10 each (prem. Rs.25 per share)

allotted against detachable warrants. 30,00,000 No. of equity shares

allotted against warrants which were issued to the employees under ESOS

on preferential basis. Another 70,505 No. of equity shares of Rs.10

each (prem. Rs.25 per share) allotted against detachable warrants.

Escorts Ltd, the second largest tractor manufacturer in the country,

is set to launch its new tractor, Farmtrack 45, in the US next month

after a silent entry in the domestic markets in August last.

The fall in profits is mainly due to the labour strike which lasted

for 70 days and resulted in production loss.

The Company has approved the proposal to divest 24 per cent equity in

Escorts Yahmaha Motor Ltd (EYML), a joint venture between Escorts Ltd

and Yamaha Motor Co. (YMC), Japan, manufacturing a wide range of

motorcycles in India for the domestic market and exports.

The Company has launched Esconet Services Limited. This company is a

100% subsidiary of Escorts Limited.

The Company has launched its wheel type crop harvestor.

ICRA has downgraded the rating assigned to the Rs 75-crore NCD

programme of Escorts Ltd. from `MAA' to `MAA+'. ICRA has retained the

`A1+' assigned to the Rs 75-crore commercial paper programme of EL.

Yamaha Motor Escorts Ltd. the joint venture between Yamaha Motor Co.

Ltd. of Japan and the Delhi-based Escorts group, has launched a new

100cc four stroke motorcycle (Crux).

The Company will be launching tractors with higher horse power in the

range of 60hp - Farmtrac 70 - by end of December, in a bid to push its

market share to over 22 per cent. 2001

On June 13th Escort withdraws from Yamaha JV. Yamaha set to buy out

Escorts share in their Indian joint venture, by June 30, Yamaha India

becomes the first 100% subsidiary in Asia for the Japanese motorcycle

company.

The Rs 3,200-crore, Delhi-based Escorts Group has launched iServ

India Solutions Pvt Ltd, a wholly-owned subsidiary with services to

address the demand for information technology (IT) infrastructure

related corporate solutions.

Escorts Ltd on July 12, 2002 announced the divestment of its equity in Escorts JCB Ltd & Escorts Class Ltd in favour of its joint venture partners, J C Bamford UK and Claas (Germany) respectively.

Escorts Ltd has entered into an agreement to sell its entire 60% equity holding in Escorts Class Ltd for a consideration of 13.2 million Euros (approx. Rs.63 crs as per the current exchange rates).

Escorts Ltd has informed BSE that Mr Mantosh Sondhi, Director of the Company has expired on October 29, 2002.

Mr Jahar Sengupta, Director of the company expires.

Punjab Agro Industries Corporation signs a Memorandum with Escorts Ltd to

undertake contract farming.

Escorts successfully implements Oracle e-biz suite to increase the effeciency.

The company entered into an agreement with UCO Bank, to provide 100 per cent finance to farmers buying tractors.

Escorts Ltd sells off its stake in Escorts JCB

Escorts Boards decides to sell holdings in mobile telecom subsidiaries to Idea Cellular

Escorts Ltd has informed that Mr. Anil Nanda has ceased to be Managing Director of the Company. He will, however, continue to be a Director and Vice Chairman of the Company.

Escorts Ltd has tied up with Bank of Baroda, Indo Farm Tractors & Motors Ltd to beef up agriculture lending

Anil Nanda, vice-chairman of Escorts and chairman of Goetze, makes foray into real estate business in which he is investing in his personal capacity.

Escorts has announced a tie-up with Castrol India for exclusive supply of engine oils for service refill as well as after market sales

Escorts wins $8.5-m tractor order from Ghana

Escorts Ltd has acquired its Polish joint venture partner, Farmtrac Tractors Europe

Escorts' US subsidiary teams up with SAME Deutz-Fahr Italia

Escort India is set to manufacture tractors in Bangladesh through a joint venture with the Nitol-Niloy group.

Nikhil Nanda takes Charge as Joint Managing Director.

Escorts launches E-mail Id for investor compliants.

Escorts Ltd. has signed a MOU with IFFCO, a multi-state Co-operative society.

Escorts Ltd flags off 'Jai Kisan Utsav', a pan-India initiative for the Indian farming community.

Escorts Ltd. launches FT-60 X-TRA Torque in Punjab and Haryana.

Escorts wins Indian tractor industry's largest ever order, awarded US$ 40 million order by Tanzania.

Escorts Ltd. signs exclusive agreement with European firm for disc brake system for railway coaches.

Escorts Ltd appoints S. Sridhar as Chief Executive Officer of Agri Machinery Group.

Escorts Ltd sponsors Tractor Styling and Design contest Farmtrac 2020.

Escorts Ltd launched its high end premium range of Farmtrac tractors at Sfax the commercial capital of Tunisia.

Escorts Ltd unveiled its 'Jai Kisan Series' of tractors in Punjab, Haryana, Rajasthan and Uttar Pradesh.

Escorts launches New Powertrac Ds-Plus Tractors in Hyderabad

Escorts ties up with Amul Industries for Mini Tractors.

Escorts launches India's first Executive Tractor.

Escorts Ltd announces appointment of Mr. Dipankar Ghosh as Head of Railway Products.

Escorts Ltd. has appointed Nikhil Nanda as a Managing Director.

Escorts CIO wins top Information Security Award 14 June 2013

Escorts launches Crop Solutions, signs MoU with SBI 04 June 2013

Escorts lanches most powerful & fuel efficient Tractors in Bangladesh

Escorts ranked 3rd fastest growing company in india by business world.

Escorts introduces Next Generation XP Series Engine.

Escorts own EEPC Excellence Award for Auto Exports 20 February 2014

Escorts Ltd. - Escorts launches India's first Anti Lift Tractor

Escorts Ltd. - Escorts Partners With Cognizant to Digitally Transform its Businesses

"Escorts Ltd display strength in Europe and North America with launch of New 80 & 90 HP Farmtrac Tractors".

Escorts Ltd Divests Auto Product Business

Escorts develops new products to make rail travel safer.

Escorts unveils latest global tractor series.

Escorts Introduces indigenously engineered Electric Tractor at Agritechnica 2017, Hanover, Germany

Escorts launches new range of construction equipment at Bauma CONEXPO 2018

Escorts Enters into JV with Japan’s Tadano Group for HIGHER CAPACITY MOBILE CRANES

Escorts Showcases India's first Hybrid Concept Tractor at Esclusive 2019

Farmtrac unveils Hybrid Concept Tractor at Agritechnica 2019

Company name has changed to Escorts Kubota Ltd. from Escorts Ltd.

Escorts Construction Equipment unveils India’s first Hybrid Pick-n-Carry Crane and Mono Chassis Safe Crane at EXCON 2022.

Escorts Limited & Kubota Corporation reinforce their long-standing partnership. Kubota increases its stake in Escorts Limited

Company name has changed to Escorts Kubota Ltd. from Escorts Ltd.

Escorts Kubota Ltd.has informed the Exchange about Acquisitions of Rough Terrain (RT) Crane Business and the associated equipment and parts.

Escorts Kubota Ltd.approved the proposal to incorporate a wholly owned subsidiary company as a Non-Banking Financial Company, to finance the Company''s Products and Consumers.