Modi Rubber Ltd
NSE: MODIRUBBER BSE: 500890
₹121.18
(-2.42%)
Thu, 26 Feb 2026, 06:56 pm
Market Cap3.05B
PE Ratio18.04
Dividend0
Consumer Durables
Automotive Aftermarket
24.5KCompany History
1971
- The Company was incorporated on 27th February at U.P., Modinagar.
- The main objects of the company is manufacture of automobile tyres and tubes.
- 4,49,923 shares were issued to directors, business associates and employees of the Modi Group, 8,00,000 shares to Modi Industrial Ltd., 7,50,000 shares to Modipon Ltd., and 4,00,000 shares to Modi Spg. & Wvg.
1972
- 36,00,000 shares were issued at par.
- 1,30,000 shares were issued to ICICI, 1,70,000 shares to IFCI, 1,30,000 shares to UTI, 2,20,000 shares to LIC and 29,50,000 shares to the public.
1975
- 20,00,000 Right equity shares were issued at par in proportion 1:3 during February 1975.
1978
- 3,00,000 shares were allotted at par to ICICI in part conversion of loan.
1980
- 15,75,000 No. of equity shares of Rs.10 each of Mumbai Tyres International Ltd., were transferred in the name of the Company.
- 20,80,000 No. of equity shares were issued at par to financial institutions on conversion of loans during the year.
1981
- Superior Investment (India) Ltd., and Spin Investment (India) Ltd., became subsidiaries of the Company.
- The formal transfer of the management of Mumbai Tyres International Ltd., to the Company was effected on 21st December.
1983
- The company was granted permission to manufacture upto 4,00,000 radial tyres per annum within the existing licensed capacity.
- The financial institutions and banks sanctioned term loans of Rs.27.5 crores towards part of the cost of modernisation cum expansion scheme of the Company.
1984
- The Company entered into a technical collaboration agreement with Continental Gumme-Werke Aktiengesellschaft, Hanover, West Germany.
- The company extended this agreement for a further period of 5 years commencing from 1st November.
1986
- The Company launched `Platinum Tyre' a truck tyre and `R-90 Executive' a premium car tyre.
1987
- The Company received requisite permission for setting up additional facilities for the manufacture of radial tyres.
- The company entered into a collaboration with M/s. Continental Aktiengesellschaft, West Germany for the same.
- The company applied to Government for inclusion of passenger and light commercial vehicle radial tyres in the existing letter of intent for truck tyres.
1988
- The company introduced a fuel efficient big tyre for the newer generation vehicles in LCV category.
1989
- The Company successfully developed and launched a new truck tyre `MARATHON'.
- The Company finalised the first phase of the modernisation programme involving rationalisation of production of the smaller tyres of the Modinagar plant and of the bigger tyres including the radial tyres at the Modipuram plant.
- The Company promoted `Modi Olivetti Ltd' for manufacture of mini-computers and micro-processor based systems.
- The Company promoted `Bihar Sponge Iron Ltd' for manufacture of sponge iron.
- The Company promoted `Modi Champion Ltd.,' for manufacture of spark plugs.
- The technical collaboration agreement with Continental AG, West Germany was extended for a further period of five years.
- A fresh technical collaboration agreement was entered into with Continental AG, West Germany for acquisition of the radial tyre technology.
- The Company was incorporated for the manufacture of 30,000 tonnes per annum of solvent spun highwet modules cellulosic fibres.
- The Company was incorporated for the manufacture of large capacity diesel generating sets based on heavy fuel.
1990
- The company was incorporated with Gujarat Alkalies & Chemicals Ltd., for the manufacture of float glass in technical and financial collaboration with Guardian Industries Corporation, U.S.A.
1991
- The Company allotted 10,00,000 - 17.5% non-convertible debentures of Rs.100 each on private placement basis with UTI, LIC, GIC and its subsidiaries.
1992
- Steps were taken to embark upon the second stage of modernisation of its plants for production of radial tyres in collaboration with Continental AG, Germany.
- The company offered 31,14,000 - 14% fully convertible debentures of Rs.200 each on Rights basis.
- Another 1,55,700 - 14% fully convertible debentures were issued to the employees' on an equitable basis.
- It was proposed to amalgamate Modi Stone Ltd., with the Company.
- 73,46,100 No. of equity shares were issued on conversion of part `A' of debentures.
1993
- The Company proposed to invest Rs.600 lakhs in the equity capital of a project being implemented by AMNSL.
- The company proposed to issue non-convertible debentures of an aggregate value of Rs.2,000 lakhs on private placement with Mutual Funds, banks and Financial Institutions.
- 73,14,432 No. of equity shares were issued on conversion of part `B' of debentures.
1994
- The Company issued non-convertible debentures to the extent of Rs.4500 lakhs on private placement basis to IFCI, IDBI, UTI, LIC, GIC and its subsidiaries.
1995
- The company set up facilities for manufacture of automobile tubes at Partapur, Meerut.
1996
- The project for manufacture of radial tyres for passenger cars and light commercial vehicles was held in abeyance due to various constraints.
2001
- The workers' union of Modi Rubber came out in support of its managing director B K Modi.
- Modi Rubber announced plans to hive off its tyre business into a 100 per cent subsidiary before offloading equity to German tyre major Continental.
- Mr BK Modi met the chiefs of financial institutions to sort out the stake sale row in MRL.
- The board of Modi Rubber Ltd restored to Dr B.K. Modi all the functionary powers vested with him prior to the June 28 board meeting.
- Mr T Panduranga Rao, chairman of Modi Rubber, submitted his resignation to Unit Trust of India.
2003
- SEBI vindicated HSBC Sec in the Modi Rubber issue.
- Promoter brothers BK and VK Modi signed a workers' agreement towards the revival of the company.
2006
- Modi Rubber inked an agreement with a Chinese company.
2007
- Shri VK Modi was appointed as Managing Director of the company.
2011
- Modi Rubber signed agreements with Continental Group.
2012
- Modi Rubber entered into an agreement to establish a Joint Venture with Asahi Organic Chemicals Industry Co. Ltd., Japan for manufacture and sale of Resin coated Sand.
2014
- Ms. Piya Modi was appointed as an additional Director of the Company.
Open Your Free Demat Account Now!
Facebook
Twitter
Instagram
LinkedIn
Youtube
Calculators
Popular Calculators
Group Stocks
Pocketful Fintech Capital Private Limited (CIN U65999DL2021PTC390548) | The SEBI Registration No. allotted to us is INZ000313732. NSE Member Code: 90326 | BSE Member Code: 6808 | MCX Member Code: 57120 DP | CDSL: 12099800