YEAR EVENTS 1961 - The Company was incorporated on 21st April, 1961 in Mumbai. The company manufactures ball & roller bearing components in respect thereof, pendulum weighting arms, cradles, bearing units for top rollers, centre sleeve inserts and top tension pulleys. - 6,000 shares taken up by the holding Company, and 4,000 shares by the Investment Corporation of India, Ltd., its associates, Directors. 1962 - 3,90,000 shares issued by a prospectus dated 12.5.1982. 2,34,000 shares to the holding Co.; 76,000 shares to the Inv. Corpn. of India, Ltd., its associates & Directors & 80,000 shares to the public. 1974 - 1,00,000 Bonus shares issued in propn. 1:4 in March. 1975 - 88,236 shares issued (prem. Rs 75 per share) to resident shareholders as rights. 1980 - 2,94,118 bonus shares issued in prop. 2:5. 1981 - During July/August, the Company offered for public subscription of 3,00,000-13.5% non-convertible debentures of Rs 100 each. These debentures are redeemable at par in four equal annual instalments of Rs 25 each beginning from 17th September, 1988. The rate of interest on these debentures was increased to 15% with effect from 17th April, 1982. 1985 - The Company issued 10,00,000-15% non-convertible debentures of Rs 100 each of which 2,50,000 debentures were privately placed with financial institutions. These debentures were allotted in March, 1985 and were to be redeemed in full at a premium of 5% on the expiry of 7 years from the date of allotment of debentures. 1986 - 3,52,941 bonus shares issued in prop. 2:5. 1987 - The name of the company was changed from Associated Bearing Co. Ltd. to SKF Bearing India Ltd. with effect from 1st October. - The company has no technical collaboration in respect of ball & bearing manufactured at its chinchwad unit. However, in its new manufacturing unit at Bommasandra, where line manufacturing technology was introduced the company has a technical collaboration with Akteibolaget SKF. - A project to increase the licensed capacity for ball and taper roller bearings to 1.68 crores nos. and 55 lakh nos. respectively, was taken up for implementation at the Company's factory at Chinchwad, Pune. - The Company proposed to set up a new manufacturing unit for manufacture of 9.0 million nos. of ball bearings at Bommasandra in Karnataka. SKF of Sweden was the technical collaborators of the project. - The Company received a letter of intent to manufacture additional 13 million numbers of ball and roller bearings at Bommasandra unit. - The name of the Company was changed from Associated Bearing Co., Ltd. to SKF Bearings India, Ltd. with effect from 1st October. - Out of the 24,70,590 No. of equity shares issued by the Company 12,60,000 shares are held by the Holding Company Aktiebolaget SKF, Sweden, and its subsidiaries. 1988 - During December, 1988/January, 1989, the Company offered 14,00,000-14% secured redeemable non-convertible debentures of Rs 100 each on rights basis to the existing Indian resident equity shareholders in the ratio of 7 debentures for every 3 No. of equity shares held. The issue was fully subscribed. - As per the terms of the issue, these debentures are redeemable in full at a premium of 5% on the expiry of 7 years from the date of allotment, i,e., 2nd March, 1989. 1989 - 12,35,295 bonus shares issued in prop. 1:1. - The Company also received a letter of intent to manufacture additional 13 million numbers of ball and roller bearings at this unit. 1990 - The Chinchwad unit obtained a licence to manufacture 22.35 million numbers of ball and roller bearings per annum. - The Bommasandra unit was licensed to manufacture 26.4 million numbers of ball and roller bearings per annum. - A programme entitled `Capital India Project' was prepared to implement the letter of intent during the year. - During November, the Company offered 14%-45,00,000 secured redeemable non-convertible debentures of Rs 100 each on rights basis to the then existing resident Indian equity shareholders of the Company in proportion 10 debentures for every 3 equity shares held. - As per the terms of the issue, these debentures are redeemable in full at a premium of 5% at the end of 7 years from the date of allotment. A provision to buy-back debentures was made from individual debentureholders whose face value of holding does not exceed Rs 40,000 and are held continuously for a period of one year at the time of offer for sale is made. 1994 - With a view to focussing on different products, the manufacturing activities were organised into different product division and were being integrated into international product division of the SKF Group. - 44,132 shares issued to Aktiebolaget SKF and its subsidiaries in terms of amalgamation of Sketko India Bearing Co. Ltd. with the Company. 1995 - The Company entered the sophisticated markets of U.S.A., Italy, France, Singapore, Argentina etc. - With a view to contributing effectively in the developing Asian Bearings Market, the Company evaluated the possibility of setting up special capacity at Bangalore and Pune factories to meet with the requirements of exports to the region. 1997 - Several channels of Deep Grove Ball Bearings (DGBB) and Taper Roller Bearings (TRB) were upgraded. - SKF Bearing (India) Ltd. has assured the Monopolies and Restrictive Trade Practices Commission (MRTPC), New Delhi, that it will not insist on a buyer to place order for a whole set of textile drafting components. 1998 - The company had introduced a voluntary retirement scheme (VRS) from June 1 to July 31, for its employees as part of a restructuring programme. - The company top brass has adopted a five point programme that seeks to upgrade its productivity levels. 1999 - SKF Bearings India Ltd. has signed an agreement with Telco to supply hub bearings for its latest model Tata Indica. - SKF Bearings launched an electronic machine reliability inspection system called `Marlin', which can monitor the condition of bearings in industrial processes. 2000 - The Company informed the Bombay Stock Exchange (BSE) that it has entered into a memorandum of understanding for sale of its two office premises in Mumbai. - ICRA has reaffirmed the A1 rating assigned to the Commercial Paper programme of SKF Bearings (India) Limited for an enhanced amount of Rs 50 crore. 2001 - The Company will reintroduce a voluntary retirement scheme at its Pune factory. - The depressed capital market seems to be providing MNCs with an easy route to up stake in their Indian arms. The $5-billion Swedish engineering major SKF, for one, is taking a rather convoluted route to increase its stake in SKF Bearing India from the existing 51 per cent to 71 per cent. 2002 -Board recommends 10% divident on the increased capital of the company. -Rakesh Mahkija appointed as Managing Director of SKF Bearings. -Ties up with Sundaram Motors for the marketing of their kits in Karnataka and Andhra Pradesh. -Launches automotive bearing kits for the retail market. 2003 -SKF Bearings India Ltd informs that Mr Gunnar Gremlin, Director of the company gives his resignation wef April 23, 2003 -Changes in the management structure: Mr Tom Johnstone resigns as a Director wef April 24, 2003. Mr Christer Gyberg appointed as a Director wef April 23, 2003. Mr K C Mehra appointed as Additional Director wef April 24, 2003 Mr Tryggve Sthen appointed as Additional Director wef April 24, 2003. 2004 -Skf Bearings (India) Ltd. has informed that Mr G Borroni, Director of the Company has resigned wef December 29, 2003. -The name of the company stands changed from 'SKF Bearings India Limited' to 'SKF India Limited' -Forays into the rural market by launching special bearings for replacement in association with Texmo Industries, a leading pumps and motors manufacturer -SKF Bearings has rechristened itself as SKF India 2006 -Skf India Limited has appointed Mr. P. Bhandari as Company Secretary effective from 4th January, 2007. 2008 - SKF India Ltd has informed that the Board of Directors of the Company at its meeting held on October 22, 2008 have appointed Mr. Vartan Vartanian as the Additional Director of the Company. 2009 - SKF India Ltd has appointed Mr. Shishir Joshipura as Managing Director of the Company. - Skf India Limited has appointed Mr. Rakesh Makhija as President, Asia of the SKF Group and shall relinquish his post of Managing Director of the company effective January 01, 2010. 2010 -SKF inaugurated a new factory in Haridwar 2011 -SKF India Ltd has recommended a Dividend of Rs. 7/- per share (which includes a Golden Jubilee dividend of Rs. 1/-) on the Equity Share of Rs. 10/- each. 2012 -SKF launches new seal head unit for shock absorbers for off-road vehicles -Award-winning project incorporates SKF's S2M magnetic bearings to increase reliability in seabed gas compression system -SKF launches the SKF Low Friction Hub Bearing Unit, an energy efficient wheel end for cars. -SKF celebrates 65 Years with Scuderia Ferrari 2013 -SKF receives Excellent Quality Award from Tesla Motors for Outstanding Performance. -SKF has launched two new thermal cameras, the SKF TKTI 21 and TKTI 31, which offer a cost-effective means of improving the efficiency and safety of maintenance. -SKF Blohm & Voss Industries presents a new generation of sealing rings. -SKF wins GROUPAUTO International "Supplier of the Year 2013" award in Logistics. -SKF starts deliveries for Volvo S60L built in China 2014 -SKF launches new condition monitoring sensor suitable for hazardous environments. -SKF has signed a Strategic Partnership Agreement (SPA) with Envision Energy, a leading global provider of wind turbines. -SKF offers new Lincoln high performance lubrication multi-line pump. -SKF is merging its two Industrial business areas, Strategic Industries and Regional Sales and Service. -SKF has been awarded the Technical cooperation Award by Goldwind, the largest manufacturer of wind turbines in China and among the largest globally. 2015 - SKF India introduces solution factory in Jamshedpur - SKF India launches YES-Youth Empowerment at SKF, its flagship skill development program. 2016 - SKF India has set up a 1-MW roof-top solar plant at Pune -SKF india installed a rooftop solar plant at Bengaluru and along with the Pune the combined capacity is 2.1 MW - SKF india installed a hybrid solar thermal plant at Mysore and facility with obtained energy of 120 MwH per year 2017 -SKF India inaugurates its first Remote Diagnostic Center in Pune -SKF India's newly launched UDAAN Scholarship Program is all set to support education of meritorious girls -SKF India announces team for Gothia Cup 2017 2018 -SKF helps reduce maintenance costs through new railway condition monitoring solution 2019 -SKF launches Green Finance Framework -SKF sets new standard for hygienic design with ground-breaking Food Line ball bearing units 2020 --SKF collaborates with wireless specialist LumenRadio to enhance automated machine monitoring -SKF India Partners With Tata Strive For Skill Development & Vocational Training 2021 -SKF condected Goa River Marathon held on 2021 -SKF India Limited has set up an e-commerce platform for online sale -SKF acquires additive manufacturing company -SKF India launches scholarships for over 100 underprivileged meritorious girls 2022 -SKF signs Virtual Power Purchase Agreement (VPPA) to support renewable energy in Europe. 2023 -SKF India ranks in the Top 25 Best Companies to Work for in India in 2023. -SKF joins forces with CAKE to implement bearings with lowest possible carbon emissions. -SKF signs EUR 800 million multicurrency revolving credit facility. -SKF India and Ambuja Cement Foundation partner to open a skill development centre in Rajasthan. -SKF India renews its partnership with Goa River Marathon. -SKF signs Virtual Power Purchase Agreement (VPPA) to support renewable energy in Europe. 2024 -SKF joins new research and innovation project aiming to eliminate Greenhouse gas emissions. -SKF Awarded EcoVadis Platinum Rating for fourth year running. -SKF India recognized as Top Employer 2024 by Top Employers Institute. -SKF signs an MOU with Proteus Marine Renewables and GE Vernova to support collaboration on multi-megawatt tidal stream projects. -SKF completes acquisition of John Sample Group. -SKF awarded EcoVadis Platinum Medal for fifth consecutive year.