Denso India Ltd Company Summary

Denso India Ltd Summary

Denso India(formerly Nippondenso India), a Joint Subsidiary of three Japan companies Denso Corp., Asmo Co. Ltd., Sumitomo Corp. was incorporated in Nov.84 and is into manufacture of automotive electrical equipments. Its works is situated in Tehsil-Dadri (Uttar Pradesh).DIL automotive electrical equipments product range includes alternators, generators, wiper motors and other auto-electricals. It came out with its maiden issue in Jan.86. Denso Corp. Japan(Formerly Nippondenso, Japan) raised its stake to 37.90% from 26% and Sumitomo Corp, Japan and Maruti Udyog has also picked 9.5% stake each. The Denso Corp. has also assumed the effective management of DIL in April 1993 and helped DIL to turnaround.DIL has undertaken an modernisation and indigenisation project at a cost of Rs.37 Crore in 1995-96. The company has also invested Rs.7.5 Crore for land in Gurgaon, Haryana for expansion plans which was completed in the same year. The total investment was financed by rights issue of shares.During 1997-98, a new company named Denso Haryana Pvt. Ltd was formed and has acquired the 25 acres of land located in gurgaon. DIL also received ISO 9002 certification from Underwriters Laboratories Inc., U.S.A.DIL has completed an Rs.70 Crore expansion programme(Capacity Doubled) in the year 2000 which was part funded by an Rs.39 Crore rights issue to the promoters of the company in the third quarter of 1999-2000. DIL has also moped up Rs.18 crores through an rights issue in 1997.