TVS Holdings Ltd Company History

The Company was incorporated on 24th May, as a Private Ltd. Company

and it was converted into a public limited company in October 1962.

The company was jointly promoted by T.V. Sundaram Iyengar & Sons Ltd.,

and Clayton Dewardie Holdings Ltd., U.K. (CDH). It manufactures

brakes exhausts, compressors, servos units, stack adjusters, brake

chambers, reservoirs, hoses, mopeds and non-ferrous castings.

9,446 shares allotted to Clayton Dewandre Holdings, Ltd., U.K.,

without payment in cash against supply of plant and machinery.

The Company established an aluminium foundry for the manufacture of

non ferrous castings.

The company set up another plant at Hosur for the manufature of

mopeds which are sold under the brand name TVS-50".

Bonus Equity shares issued in prop. 1:3.

The licensed capacity was increased to 1,19,000 sets in Nov.

The company entered into a license and technical assistance agreement

with Clayton Dewandre Company Ltd. (CDC), U.K. for the manufacture of

system protection valves. The Company also entered into two license

and Technical assistance agreements with WABCO, GAHREUGBREMSEM LTD.

West Germany, for the manufacture of dual brake valves, trailor control

valves and hand operated brake valves.

The Company proposed to enter into another licence and technical

assistance agreement with the Union Switch and Signal Division of

American Standard Inc., U.S.A. (AS), for the manufacture of signalling

relays, point machines and related hardware. The plant was proposed to

be constructed at Hosur, Dharmapuri district, Tamil Nadu State.

Shares sub-divided. 22,76,110 bonus shares then issued in prop.

1:1.

11,38,055 shares issued (prem. Rs 10 per share) of which 56,900

shares to employees and 22,760 shares to business associates were

reserved for allotment. 10,58,395 shares offered to the public in

August, 1983.

A letter of intent and clearance under the MRTP Act was received for

the manufacture of pneumatic equipment for industrial applications in

collaboration with WABCO.

Another letter of intent and MRTP clearance was received for the

manufacture of industrial laundering, washing, cooking, dispensing and

disposing systems.

Clearance under MRTP for the manufacture of refrigerators at

Pondicherry was received. The Company received a letter of intent to

manufacture uninterruptible power supply systems and computer

peripherals in collaboration with M/s. Elgar Corporation, U.S.A.

Collaboration arrangements were under negotiation.

Ausaldo Transporti, Sr. A, Italy is a collaborator for the

manufacture of signalling relays, point machines and related hardware.

Negotiations were being held with Ausaldo, Italy for implementation

of the letter of intent granted for the introduction of micro-processor

based signal and train controlling systems through a new joint venture

to be established.

As the moped division was sold to TVS-Suzuki, Ltd. the Company

subscribed for 14,00,000 No. of equity shares of Rs 10 each in the

rights issue of TVS-Suzuki, Ltd.

37,93,517 bonus shares issued in prop. 2:3.

The production of foundry division suffered in the last quarter of

the year due to a lock-out in the factory of one of the Company's major

customers. The operations of the railway division suffered for a

variety of reasons such as stiff competition, increase in the cost of

inputs, higher working capital requirements, etc.

The Company privately placed with ICICI 5,00,000-14% non-convertible

debentures of Rs 100 each which were to be redeemed in three annual

instalments beginning from 27th September, 1995 with a premium of 5% to

be paid with the second instalment.

A subsidiary Company by name Railway Products (India) Ltd. was

formed.

Investigations revealed unsatisfactory prospects for the manufacture

of industrial pneumatic equipments in collaboration with WABCO,

Hannover, Germany hence the licence was ceased and agreement was

cancelled.

The Company privately placed 5,00,000-19% non-convertible debentures

of Rs 100 each aggregating to Rs 500 lakhs with the following financial

institutions: (i) 1,25,000 to LIC, (ii) 20,000 to GIC, (iii) 15,000 to

New India Assurance Co. Ltd., (iv) 15,000 to United India Insurance Co.

Ltd., (v) 2,00,000 to SBI Mutual Fund and (vi) 1,25,000 to GIC Mutual

Fund.

These debentures of Rs 100 each are redeemable in three annual

instalments beginning from 29th October, 1997, with a premium of 5% to

be paid along with second/third instalment.

It was proposed to expand the production capacity.

Sundaram Clayton is forging a sourcing arrangement with engine maker

Cummins for the Indian and US markets. SCL has recently achieved a

breakthrough by executing orders worth Rs 3-4 crore for Cummins of US.

Sundaram Clayton Board have approved the variation of the terms of

contract executed between the company and Mr Venu Srinivasan, MD.

Sundaram Clayton, part of the TVS group is betting on Anti-lock

Break System (ABS) as the new technology which could bring in

huge cost savings, especially for the commercial vehicle industry in India.

SCL is enhancing the capacity of its aluminium die-casting foundry

from 600 tonnes per month to 1500 tonnes per month.

TVS group company Sundaram Clayton Ltd (SCL) has acquired an order to supply die castings to Volvo for its American operations

Sundaram-Clayton opens new division to develop software for WABCO

Mr. S Muralidharan has been appointed as a Company Secretary and as a Compliance Officer.

100% defect free delivery for Q2, Q3 and Q4 from Cummins, USA

The Board have recommended a final dividend of Rs 2/- per share on equity shares of Rs 10/- each.

''Most Improved Supplier" award from Cummins, US

Best supplier award for "Responsiveness" from Cummins ABO

Best Supplier award for "Cost reduction" from Honda Siel Cars India.

Awarded for TPM Excellence, Category A.

Mr R Raja Prakash appointed as Company Secretary and Compliance Officer of the Company.

Excellent performance in "6 sigma initiatives" from Cummins, United States.

Sundaram Clayton has given the Bonus in the Ratio of 1:1

Sundaram Clayton - Lakshmi Venu joins Sundaram-Clayton Board of Directors.

Sudarshan Venu joins Sundaram-Clayton Board of Directors.

Mr Venu Srinivasan has been appointed as Chairman of the Company.

Mr R Vijayaraghavan as an additional and non executive independent director of the Company.

The Board of Directors of the Company has declared an interim dividend of Rs. 9/- per share

The Board of Directors of the Company has declared an interim dividend of Rs. 6.50/- per share.

Special award for globally competitive supplies- Daimler

Best supplier six sigma project award - Cummins

Rotex- Best supplier Award

PACCAR - Supplier of the year Award

Product development support excellence Award

Cummins - "Category partner – Aluminum castings" Award

Paccar - "Supplier of the year"" award for cost management

Hyundai - Best Performer-2018 in Production Support category

Cummins - Best Supplier – Six sigma project Award

Hanon - Best Process and System Award

Hanon - Best Process and System Award

PACCAR - Supplier of the year 2019 Award

Energy conservation 2019 – Gold Award from HANON

Sundaram Clayton Limited inaugurates first overseas facility in USA at a project cost of i 630 Crores (US $90Million)".

"Sundaram Auto Components conferred with TPM Excellence Award for its Mysuru plant".

Company name changed to TVS Holdings Ltd. from Sundaram Clayton Ltd..

The Company has issued Bonus Shares in the Ratio of 116:1.

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