BSE:532349 | NSE:TCIEQ | 58888:trat | IND:Warehousing/Supply Chain/Road Transport | ISIN code:INE688A01022 | SECT:Logistics
The Company History page lists out the major events in chronological order for Transport Corporation of India Ltd.
|Company History - Transport Corporation of India Ltd.|
1965 - The Company was incorporated in the State of Assam as a private
limited company on 6th April, with the main object of taking over
as a going concern the business then carried on under the name
and style of Transport Corporation of India. Accordingly, the
transport business was taken over in April, and the diesel pump
business and immovable assets in February 1967.|
- The main object of the company is transport of goods by road, dealing in petroleum products & manufacture of textiles and yarn. The transport division commenced new activities in shipping & liquid transportation
1970 - 200 shares subscriber for by the signatories to the Memorandum of Association and 14,800 shares issued without payment in cash.
1971 - 5,000 shares issued to directors, etc.
1972 - 10,500 shares issued to directors, etc.
1973 - The rolling mill unit, acquired from Bangalore Rolling & Structurals, Ltd, went into production in October.
- Authorised capital reclassified and increased. Shares subdivided.
1975 - With effect from 1st June, the Company acquired a textile mill in Mumbai and started running it under the name Mukesh Textile Mills.
1976 - 4,80,000 shares offered to the public (prem. Rs. 10 per share during May 1975.
1977 - 8,00,000 Bonus shares issued in prop. 1:1.
1981 - The working results of Mukesh Textile unit were adversely affected due to steep increase in the cost of all inputs and also due to a strike by workmen from 18th January, 1982.
- Authorised capital increased 16,00,000 Bonus equity shares issued in prop. 1:1.
1984 - The operations of Wire Rod mill unit were adversely affected due to massive power cuts coupled with shortage of supply of steel billets.
- There was no manufacturing activity due to strike by workmen and a major fire in the mill. An application for closure of Mukesh Textile mills unit was pending with the Mumbai High Court.
- The Company revalued the leasehold land, buildings, plant and machinery of its Mukesh Textile Mills in Mumbai as on 30th June. The net surplus arising out of this was credited to capital reserves.
- Land and Buildings of the transport division were revalued as on 1st July, and the net surplus arising out of this was credited to capital reserves.
- Land, buildings and plant and machinery of the Bhoruka textiles unit were revalued as on 1st July, and the net surplus arising out of this was credited to capital reserves.
- The buildings, plant and machinery of the wire rod mill at Bangalore were revalued as on 1st July, and the net surplus arising out of this was credited to capital reserves.
- Bhoruka Textiles, Ltd., Chanderpal Investments, Ltd., and TCI Investments, Ltd. (formerly Rajat Investments, Ltd.) are subsidiaries of the Company.
- 1,88,720 shares issued at par to financial institutions on conversion of loans.
1985 - The Company privately placed with Unit Trust of India 1,50,000 - 15% secured redeemable non-convertible debentures of Rs. 100 each.
- During Feb. 1986, 16,94,860 Bonus equity shares issued in prop. 1:2.
1986 - In August, Shipping division acquired one more vessels named "M.V. Bhoruka Prabhu".
- There was no production activity due to continued strike. The Government of Maharashtra rejected the closure application forwarded by Mukesh Textile mills bench of Mumbai High Court.
- The Transport division commenced new activities in shipping and liquid transportation. The Shipping division commenced operation on 21st October.
- The collapsible containers division made a small beginning with the manufacture of collapsible containers for transportation of liquids. The division also undertook marketing activities of collapsible containers.
- During April, the Company offered for sale 10,00,000 No. of equity shares of Rs. 10 each at a price of Rs. 15 per share linked to 4,00,000 - 15% secured redeemable non-convertible debentures of Rs. 100 each. Out of this, 20,000 No. of equity shares linked to 8,000 debentures were reserved for preferentail allotment to Business Associates, Directors etc. and 50,000 No. of equity shares linked to 20,000 debentures were reserved for preferential allotment to the employees of the Company.
- The balance of 9,30,000 No. of equity shares linked to 3,72,000 debentures were offered for public subscription during April-May, of which 2,50,000 No. of equity shares linked to 1,00,000 debentures were reserved for prefernetial allotment to non-resident Indians on non-repatriation basis. Every applicant applying for the equity shares was to apply simultaneously for debentures also and vice versa in the proportion of 50 No. of equity shares and 20 debentures or multiples thereof for Indian public, employees & Business Associates and 100 No. of equity shares and 40 debentures or multiples thereof for non-residents.
1988 - Turnover of Transport division registered a growth of 10%. Rent-A-car operations commenced in March, 89 in some cities with a small fleet of non-airconditioned cars.
1989 - Turnover improved by 17% on an annualised basis over the previous period. The wheels rent-a-car division operated from six major cities hiring over both air-conditioned and non-air conditioned cars.
- Shipping division proposed to introduce voyages in Indian coastal waters to adjacent foreign ports and also buy log carriers, mini bulk carriers and offshore vessels for future expansion.
1990 - The wheels rent-a-car division expanded the network to four more cities. The self drive service was well received by the customers.
- There was a setback in the Shipping division due to lower tonnage transported, lower realisation of rate per ton and breakdown of a ship resulting in an increase of both semi variable and fixed overheads.
- With effect from 1st April, the wire rod mill was transferred to `Bhoruka Steel, Ltd.'.
- The division was set up for buying and selling of Forex i.e. money changing business. The RBI was approached by the division for licenses to open branches in few more centres in India.
1992 - During 1992-93 and 1993-94, shipping division registered an increased turnover at 4% and 23% respectively. During the year, 4th ship. M.V. Bhoruka Vikram was to be added to the fleet.
- 25,42,290 bonus shares issued in prop. 1:1.5.
- The Wheels Rent-A-Car division has also introduced a new scheme of long term renting of cars under which cars of various models can be rented for a period of 36 months on self drive basis by the customers. The scheme has been initially introduced in Bombay and Delhi and is expected to get a good response.
- The Company has formed a new division in the name and style of `TRANS CORP INTERNATIONAL BUREAU D'EXCHANGE' for conducting the business of money changer i.e. buying and selling of Forex.
1993 - Despite nationwide transport, strike, transport divisions turnover improved by 19%.
- The Desk-to-desk cargo division proposed to increase the network by introducing 25 branches.
- On 5th March, the Company allotted 25,42,290 No. of equity shares of Rs. 10 each fully paid as Bonus Shares to the members in the proportion of one share for every two shares held.
1994 - During May, the Company issued 6,35,575 - 15% secured fully convertible debentures of Rs. 120 each on Rights basis in the proportion 4 debs : 50 No. of equity shares held (all were taken up).
- Part A of Rs. 40 was to be converted into one equity shares of Rs. 10 each for cash at a premium of Rs. 30 per share on the date of allotment.
- Part B of Rs. 80 was to be converted into 2 equity shares of Rs. 10 each at a premium of Rs. 30 per share after 12 months from the date of allotment of debentures. Accordingly 6,35,575 No. of equity shares were allotted on 30th June.
- Another 10,59,425 - 15% secured redeemable partly convertible debentures of Rs. 120 each were issued through the Prospectus as follows.
- i) 2,64,800 PCDs on preferential allotment basis to the promoters.
- ii) 1,00,000 debentures on firm allotment to UTI.
- iii) 53,000 debentures on firm allotment to SCICI Ltd.
- Balance 6,41,625 debentures were issued to the public (all were taken up). Rs. 40 of the face value of each debenture was to be converted into 1 equity shares of Rs. 10 each at a premium of Rs. 30 per share on the date of allotment of debentures. Balance Rs. 80 of the face value of each debenture was to be redeemed in four equal annual instalments of Rs. 20 each at the end of 6th, 7th, 8th & 9th year respectively from the date of allotment of debentures.
1995 - The Company has received ISO-9002 Certification.
- The Company has also allotted 284800 PCDs of Rs.120/- each to the employees on 31st January. Out of 4,00,000 debentures issued to the Public in 1985-863,00,000 Debentures have been redeemed as on 17th June.
- TCI launched its sea cargo division, TCI Seaways Ltd., to carry cargo between the mainland and the Andaman and Nicobar Islands.
1997 - Transport Corporation of India Ltd (TCI) have launched a new division - XPS Cargo services. Christened XPS, this new door-to-door service is exclusively designed to meet the needs of the time sensitive high value small cargo.
1999 - Transport Corporation of India (TCI) and Mitsui & Co Ltd, Japan's largest general trading company, have joined hands to set up a new joint venture company.
- TCI, has entered into two-year contract with Sathyam Infoway through VSNL for a lease line with capacity of 64 Kilo bytes per second (KBPS).
- The company has signed a joint venture with Mitsui & Co. in the field of automotive logistics.
2000 - The Company has launched a vertical portal on logistics, to provide information and services to the industry.
- The Company has proposed to delist its shares from the Bangalore, Calcutta, Cochin and Madras stock exchanges as the volume of trading on these SEs has reduced.
- XPS Door-to-Door Express Service, a division of the Transport Corporation of India, has launched Anmol Rakhi to facilitate sending of rakhis to anywhere in the country and abroad.
- The Company has launched logisticsfoccus.com.
- ICRA reaffirmed the `LA' and `MA+' ratings assigned to the partly convertible debenture and fixed deposit programme of the Company.
2001 Transport Corporation of India Ltd (TCIL) has received ISO 9002 certificate.
- Transport Corporation of India-promoted XPS ties up with Emirates Post of UAE and launches new inbound parcel service named 'Bharat Parcel Guaranteed' which offers full refund of parcel charges if the parcel is not delivered within two weeks of booking.
-XPS Global signs agreement with Chinese logistics firm
2006 -Company has splits its Face value of Shares from Rs 10 to Rs 2
-Transport Corporation of India Ltd has appointed Mr. R V Raghavan as Additional Director of the Company.
-TCI celebreted its 50 years. Expanded its Global footprints from 3 to 8 countries. Received 'Best 3PL Awards for the year'.
-Expanded its Global footprints to 12 countries. Received 'Best 3PL Express, Logistic & Supply Chain Awards for the year' This is for the third time in the row that we have bagged the ELSCC Award.
-Infinite Logistics Solutions Private Limited(ILSPL) has formed a joint venture between TCI and CONCOR for bulk multimodal logistics solutions by rail and road.
-TCI Bags "Road Tranporter of the Year" & TCI Supply Chain Solutions bags the "Warehouse Service Provider of the Year"8th-February-2012.
2013 -TCI Apex Pal Hospitality Pvt. Ltd forms a JV with Singapore based restaurant chain Sakae Sushi. -TCI wins Mahindra Transport Excellence Award 2013 -TCIF organizes ‘Trucker’s Utsav’ to mark celebrations of World AIDS Day. -TCI Ltd has recommended Payment of Final Dividend @ 30% (Rupee 0.60 per share of face value of Rs. 2/- each).
2014 -TCI XPS continues its 15th year ‘Anmol Rakhi’ Service across 13000 locations in India and Worldwide.
2015 - Frost & Sullivan Award 2015 To TCI Supply Chain Solutions for India Domestics Logistics Services Company
2016 -TCI Ltd Recives Overall Excellence in Logistics & Supply Chain Award -TCI Ltd Recives Domestic Logistics Service Provider of the Year Award -TCI Ltd Manufacturing Supply Chain Service Provider of the Year (Overall) Award -CSR Leadership Award 2016 To TCI Foundation for Concern for Health
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