Hercules Hoists Ltd Company Summary

Hercules Hoists Ltd Summary

Hercules Hoists Limited, a Bajaj Group of Company was incorporated in June, 1962. The Company manufactures material handling equipments, such as, Chain Pulley Blocks, Chain and Wire Rope Electric Hoists, Ratchet Hoists, Winches, Traveling Trolleys, Storage & Retrieval Cranes, Roll-out Racks, Light Profile Crane Systems, Pulling and Lifting Machines, H.O.T./E.O.T./Jib Cranes, Floor Operated Stacker Cranes and Stores Stacker Cranes. Apart from these, it offers a diverse range of products and services including manufacturing, sales, distribution and marketing of mechanical hoists, electric chain hoists and wire rope hoists, stackers and storage and retrieval solutions, overhead cranes in the standard and extended standard range, manipulators and material handling automation solutions. The Company is also marketing Shrouded Conductors of AKAPP, in Netherlands. In 2000-2001, the company completed the development of new range of Chain Electric Hoists and Ratchet Lever Hoists. Both the products are expected to do well in the export and domestic market. The company is also developing new range of Wire Rope Electric Hoists jointly with M/s Bull S.r.l., Italy. With effect from February 1, 2001, the companys agreement with M/s Batliboi Ltd for the 50:50 Joint Venture marketing company Indef Marketing Services Ltd was terminated and Hercules Hoists bought over their 100000 shares at the face value of Rs.10.00 and paid a compensation of Rs.1 crore towards exiting from the JV and non-competition by them for a period of five years. Thus the Indef Marketing Services become a wholly owned subsidiary of the company with effect from 23rd March 2001.M/s. Indef Marketing Services Limited, Companys subsidiary was amalgamated with the Company during the year 2005. The Company commissioned a new business of Wind Energy in Dhule District of Maharashtra and resulting to this, the turbines became operative from 25 March, 2005. The fourth Windmill was installed in July, 2006 in Dhule, which increased the installed capacity to 5 MW.