Khaitan Electricals Ltd Company Summary

Khaitan Electricals Ltd Summary

Incorporated on 27 Oct.75 as a private limited company, Khaitan Tibrewala Electricals has been promoted by S K Khaitan and Jyoti Prakash Tibrewala, who are presently the Chairman and Managing Director. It was converted into a public limited company on 16 Sep.82. Jhunjhunu Holdings became a wholly owned subsidiary of the company in 1987.During 1983, the Company came out with a public issue to augment the working capital requirements when it started the production of oscillating cabin and wall mounting fans. From 1985 to 1990, the product range was enlarged by introduction of new models of fans. In 1987-89, the oscillating type air circulators was launched and in 1991-92, the window type air cooler was launched. The Companys plants are located at Bachepalli (Medak district), and Balanagar, Hyderabad, both in Andhra Pradesh with an over all installed capacity of 7.5 lacs of ceiling fans and motors, 4 lacs of portable fans and motors and fifty thousand of coolers. In the year 1994-95 room cooler was launched and the company also diversified into sugar and agro products.The company also plans to Buy Back the companys share, as and when the law permits.The scheme of amalgamation of Erstwhile Khaitan Electricals Limited with the company was approved by the Honble High Courts of Calcutta and Hyderabad and became effective on 26th February, 1999 with restrospective effect from 1st April, 1998. As provided in the scheme, the name of the Company has been changed from Khaitan Tibrewala Electrical Limited to Khaitan Electricals Limited with effect from March 10th, 1999.The company is planning to design and develop new as well as low cost models of fans,coolers and power efficient motors.During the year 2000-2001 the scheme of amalgamation with Jhunjhunu Electrical & Finance ltd has been approved by the Honourable High Court of Hyderabad.