SWARAJ MAZDA
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SML - BRIEF HISTORY SINCE INCEPTION / MAJOR MILE STONES

  1983 Swaraj Vehicles Ltd. incorporated (in July).  
  1984
Joint Venture and Technical Assistance concluded between Punjab Tractor Ltd., Mazda Motor Corporation, Japan & Sumitomo Corporation, Japan . SVL renamed Swaraj Mazda Ltd.,
 
  1985
Project set up with a capacity of 5000 LCVs at capital outlay of Rs.20.0 crores. Equity of Rs. 10.5 crores was subscribed by
 
   
   
Rs. in Crores
Punjab Tractors Ltd.
29.0%
3.04
Mazda Motor Corpn. Japan
15.6%
1.64
Sumitomo Corpn. Japan
10.4%
1.09
Public
45.0%
4.73
 
 


Trial Production and Test Marketing of Swaraj Mazda TruckWT-48, WT-49, WT-50 LCVs commence.

 
   

Development of vendor base as per PMP approved by Govt. of India undertaken.

 
  1986
Commercial operations start.
 
  1987
Introduction of indigenously developed bus.
 
  1989
In-house tooling for local production of chassis long member.
 
  1990

In-house developed Second Truck Model (Swaraj Mazda Super) launched.

 
  1991

Transmission components indigenised.

 
  1992

Commencement of Truck supplies to MOD.

 
   

500 vehicles supplied to Defence.

 
  1993

Third Truck Model (Swaraj Mazda Premium) launched.

 
  1994

Declared a Sick Company under SICA (due to Rupee devaluation of 1991-93).

 
  1995

BIFR approves Rehabilitation Scheme.

 
  1996

4-Wheel Drive Truck developed.

 
  1997

Company ceases to be a Sick Industrial Company on the basis of positive net worth - 4 years ahead of BIFR Scheme projections.

 
  1998

Complete wipe off of accumulated losses.

 
  1999

Bharat Stage-I Emission Norms complied.

 
  2000

Maiden Dividend declared @ 10%.

 
   

Technical Assistance Agreement with Mazda extended upto October 2004.

 
  2001

Cumulative sales crossed 50,000 vehicles.

 
   

4 Wheel Drive Ambulance launched in March.

 
   

Economy Truck ‘SARTAJ' launched in August.

 
   

CNG Bus for NCR Delhi launched in October.

 
   

Bharat Stage-II Emission Norms complied.

 
  2002

* Profit Before Tax for FY 2002 crosses Rs. 100 Million mark.

 
   

* Dividend raised to 25%.

 
  2003

Profit Before Tax for FY-2003 grows 115% to Rs. 225 Million.

 
   

Dividend enhanced to 45%.

 
  2004

Profit Before Tax for FY-2004 grows 44% to Rs. 324 Million.

  
   

Dividend enhanced to 70%.

 
  2005

Cumulative sales crossed 86,000 vehicles.

 
   

Bharat Stage-III emission norms complied (both diesel & CNG).

 
   

Dividend enhanced to 75%.

 
   

Punjab Tractors offloads 15% of equity stake in favour of Sumitomo Corporation, Japan in June.

 
    Mazda Motor Corporation offloads 15% of equity holding in favour of Sumitomo Corporation, Japan in August
  
  2006

Permission from Government for new manufacturing facilities at existing site obtained in January.

  
   

Dividend rate lowered to 55% due profit decline

  
    Technical Assistance Agreement with Isuzu Motors signed in June.  
    Aggregate vehicles sale crosses 1,00,000 in August.  
    Construction of Buildings for vehicle expansion and new Bus Body Plant taken up in August.
  
  2007 Dividend rate maintained at 55%  
    Trial Production of Isuzu Bus LT134 taken up in July.  
  2008 Dividend rate maintained at 55%  
    Highest-ever Profits in the history of the Company.  
    Launch of Ultra Luxury Buses in July.  
  2009 Sumitomo raised its stake in the Company to 53.5% by buying entire equity holding of Punjab Tractors Ltd. in the Company in January.