Maharashtra Scooters Ltd

Maharashtra Scooters Ltd

The makers of Priya scooters Maharashtra Scooters was jointly promoted by Western Maharashtra Development Corporation and Bajaj Auto. The company was incorporated at Pune in June 11 1975 and came out with its first public issue in Nov.'77. Presently the Company sells products in India and is engaged in manufacturing dies jigs fixtures and die casting components primarily for automobiles industry etc. The company at the time of inception entered into a technical know-how agreement with Bajaj Auto the tenure of which was specified as 10 years from the date of commencement of commercial production or till the company achieved a total production of 3 lac scooterswhichever is later.Commercial production at its Satara plant commenced in Aug.'76. Under the scheme of re-endorsement of industrial capacity with reference to minimum economic scales of operation announced by the government the company expanded the installed capacity of motorized two-wheelers (350 cc engine capacity) during 1985-86. Further expansions have increased the installed capacity to 1.5 lac numbers in 1996-97. During 1998-99 the company installed a Pre-treatment-cum-Cathodic Electro Deposition Plant; the plant is eco-friendly plant is expected to give boost to the product quality. In 1999-2000 the company was awarded ISO 9002 and ISO 14001 from Bureau Veritas Quality International (BVQI).In the year 2004-05 the company was awarded re-certification of QMS as per ISO 9001/2000.With the cessation of production of geared scooters the manufacturing activity of the Company during the year 2006-07 was limited to the manufacture of pressure die casting dies primarily for two and three-wheeler industry. The Company sold 2402 finished units of scooters which were in stock as on 1st April 2006.During the year 2019-20 pursuant to the Order passed by Hon'ble Supreme Court of India on 9 January 2019 Western Maharashtra Development Corporation Ltd. (WMDC) one of the promoters of the Company transferred its entire 27% stake in the Company to Bajaj Holdings and Investment Ltd. (BHIL) the other promoter on 17 June 2019. Consequent to this transaction WMDC ceased to be the Promoter of the Company and the shareholding of BHIL increased to 51%. As a result BHIL became the Holding Company and this Company became its subsidiary.During the year 2022-23 the business operations of the Company continued to be manufacture of die casting dies fixtures and die casting components primarily meant for the automobiles industry.