SML - BRIEF HISTORY SINCE INCEPTION / MAJOR MILE STONES |
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1983 |
Swaraj Vehicles Ltd. incorporated (in July). |
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1984 |
Joint Venture and Technical Assistance concluded between Punjab Tractor Ltd., Mazda Motor Corporation, Japan & Sumitomo Corporation, Japan . SVL renamed Swaraj Mazda Ltd., |
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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 |
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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 |
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Trial Production and Test Marketing of Swaraj Mazda TruckWT-48, WT-49, WT-50 LCVs commence.
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Development of vendor base as per PMP approved by Govt. of India undertaken. |
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1986 |
Commercial operations start. |
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1987 |
Introduction of indigenously developed bus. |
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1989 |
In-house tooling for local production of chassis long member. |
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1990 |
In-house developed Second Truck Model (Swaraj Mazda Super) launched. |
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1991 |
Transmission components indigenised. |
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1992 |
Commencement of Truck supplies to MOD. |
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500 vehicles supplied to Defence. |
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1993 |
Third Truck Model (Swaraj Mazda Premium) launched. |
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1994 |
Declared a Sick Company under SICA (due to Rupee devaluation of 1991-93). |
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1995 |
BIFR approves Rehabilitation Scheme. |
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1996 |
4-Wheel Drive Truck developed. |
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1997 |
Company ceases to be a Sick Industrial Company on the basis of positive net worth - 4 years ahead of BIFR Scheme projections. |
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1998 |
Complete wipe off of accumulated losses. |
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1999 |
Bharat Stage-I Emission Norms complied. |
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2000 |
Maiden Dividend declared @ 10%. |
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Technical Assistance Agreement with Mazda extended upto October 2004. |
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2001 |
Cumulative sales crossed 50,000 vehicles. |
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4 Wheel Drive Ambulance launched in March. |
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Economy Truck ‘SARTAJ' launched in August. |
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CNG Bus for NCR Delhi launched in October. |
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Bharat Stage-II Emission Norms complied. |
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2002 |
* Profit Before Tax for FY 2002 crosses Rs. 100 Million mark. |
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* Dividend raised to 25%. |
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2003 |
Profit Before Tax for FY-2003 grows 115% to Rs. 225 Million. |
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Dividend enhanced to 45%. |
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2004 |
Profit Before Tax for FY-2004 grows 44% to Rs. 324 Million. |
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Dividend enhanced to 70%. |
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2005 |
Cumulative sales crossed 86,000 vehicles. |
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Bharat Stage-III emission norms complied (both diesel & CNG). |
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Dividend enhanced to 75%. |
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30-11-2005 Ground-Breaking ceremony for expanding its manufacturing capacities beyond the existing levels.
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2006 |
Cumulative sales crossed 1,00,000 vehicles. |
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30-06-2006 SML has signed a Technical Assistance Agreement with Isuzu Motors Ltd., Japan . |
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