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L G Balakrishnan & Bros Ltd.

BSE: 500250 Sector: Auto
NSE: LGBBROSLTD ISIN Code: INE337A01034
BSE 00:00 | 21 Feb 386.10 -2.50
(-0.64%)
OPEN

389.00

HIGH

389.00

LOW

386.05

NSE 00:00 | 21 Feb 387.95 -0.80
(-0.21%)
OPEN

391.00

HIGH

391.95

LOW

387.25

OPEN 389.00
PREVIOUS CLOSE 388.60
VOLUME 410
52-Week high 682.00
52-Week low 360.00
P/E 12.61
Mkt Cap.(Rs cr) 1,212
Buy Price 387.00
Buy Qty 12.00
Sell Price 390.00
Sell Qty 500.00
OPEN 389.00
CLOSE 388.60
VOLUME 410
52-Week high 682.00
52-Week low 360.00
P/E 12.61
Mkt Cap.(Rs cr) 1,212
Buy Price 387.00
Buy Qty 12.00
Sell Price 390.00
Sell Qty 500.00

L G Balakrishnan & Bros Ltd. (LGBBROSLTD) - Company History

L G Balakrishnan & Bros (LGB), one of the leading industries in South India, promoted by G Balakrishnan was established way back in 1937. The company which was started with a fleet of 250 buses, grew into India's leading Roller chain manufacturer. Since then the company has come a long way, keeping in pace with the technological advancements and meeting its customer needs with newer & innovative solutions. Today, LGB stands proud as the premier manufacturer of both automotive and industrial chains under the popular brand name 'ROLON'. LGB is also surging ahead to become a METAL FORMING company concentrating on Hot, Warm & Cold forging, Blanking, Fine blanking & Precision machined parts The companies plant are located at Coimbatore, Dindugal, Bangalore, Mysore and Karur. The companies capacity for Industrial/Automotive Chain, Yarn and Rubber Belts stood at 22200000 Mtrs, 9936 No of spindles and 150000 Nos respectively. The company made a rights issue in July, 1994 in 1:2 ratio and a bonus issue in the ratio of 1:3 was made in November, 1994. The company received ISO 9001 Certification from Det Norske Veritas Germany, in 1993-94. The company has five chain manufacturing plants, all ISO 9001 certified by Underwriters Laboratories Inc., USA. Three of the manufacturing facilities along with the central functions have been registered to ISO/TS 16949 by UL, USA.utomotive and industrial chains under the popular brand name 'ROLON'. The company is the first chain manufacturer in India to be awarded the ISO 9001 Certification. The company installed a 1.125 MW wind energy farm comprising five wind mills in 1994-95 During 1997-98 the company took over the operations of Steel Division of M/s Elgi Automotive Services Ltd based at Karur and Wire flattening division of M/s L.G.B. Auto Products located at Karur. Effective from 1st April 1997, M/s LGB Industries was amalgamated with the company Apten forgings pvt ltd, a Bangalore bsed company became subsidiary with effect from 03.07.2003. During 2004-2005, by virtue of scheme of amalgamation approved by, the shareholders at the Extraordinary Meeting held on 07-03.-2005 and the High Court of Judicature Madras vide its order no.3406/05 dated 25-04-2005, the companies wholly owned subsidiary company Apten Forgings Ltd merged with the company. The company also acquired the operations of M/s MGM Industries and Swathe Gears and Heat Treaters, Mysore based frims with effect from 01-06-2004. The acquired divisions are engaged in manufacture of hot forging components. The company acquired shares in LGB Textiles and subsequently the company became wholly owned subsidiary of the company. The company has set up a new facility for manufacture of cold forgings at K. Palayam during the period 2004-2005 The company has disposed of , whole or substantially the whole of the undertaking of Textile Division, Motor Sales & Service Divisions, Bus Body Division, Motor Sports Division, Engineering Division, Power Tools Division, Distribution Division of Mico, Blaupunkt, Elf products and Pre-cured Re-treading operation during the year 2004-2005 with the consent of the shareholders obtained in the AGM held on 28-07-2004. During 2005-2006, A Letter of Offer for subscription in equity shares of Rs.10/- each at a premium of Rs.25/- aggregating an amount not exceeding Rs.10 crores is received from LGB Textiles Ltd. The Directors of the company explained the the companies inability to subscribe to the offer at present owing to the proposed expansion programmes ahead. Hence it is proposed to renounce the rights in favour of any willing investors at the best possible premium, if any, for such renuncation.