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Company Information

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ABACUS COMPUTERS LTD.

20 December 2004 | 12:00

Industry >> Computers - Software

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ISIN No INE192D01011 52Week High 12 Book Value (Rs.) -0.19 Face Value 10.00
Bookclosure 11/09/2017 52Week Low 3 EPS 0.00 P/E 0.00
Market Cap. 1.26 Cr. P/BV 0.00 Div Yield (%) 0.00 Market Lot 1.00

History of Company

The company history sections lists out major chronological events that happened to the company.

YEAR                                                                           EVENTS
The Company was originally incorporated on 28th September 1983 , with an intention to import technical consultancy services to industry in general & to computer users in particular.The company has  been promoted  by  Mr. P. B. Madia, Mr. U. J. Ghelani  &  Mr.  P. J Ghelani.
The company at present is engaged in the Trading of Systems, Printers & other media products.The company proposes to go in for manufacture of Laser Printers & Design of Specialised Software. The company has signed MOU with Microtek, Taiwan for manufacturing Laser Printers.

1992 - Under the expansion plan, the company has proposed a right issue to meet the entire cost of project through equity as finance from banks and institution has become more and more expensive and difficult.

- The company proposes to manufacture one of the most vital peripherals, Laser Printer, locally for captive use and additional capacity will be offered to other OEMs and dealers.

- The company enters into the global market with an improved software and as mentioned earlier, it is poised for a big leap in software exports. Income through exports being tax free, the profitability should show remarkable improvements.

- The Shareholders have approved the issue of 14,26,000 No. of Equity Shares of Rs.10/- each at a premium of Rs.7.50 per share to the existing shareholders as Right Shares in the proportion of one equity shares for every one equity share held by them to the Company and 71,300 No. of equity shares of Rs.10/- each at a premium of Rs.7.50 per share to the Employees of the Company.

1993 - The market has remained sluggish during the current year in India and abroad on a many companies are concentrating in arresting expenses to conserve the low profitability.

- The product was launched at IPEX in Burringham with its Beta version. the final shippable version will be completed by the end of January 94.

- During the period the Company alloted 1426000 No. of Equity Shares of Rs.10/- each at a premium of Rs.4/- per share to the existing shareholders as Right Shares in proportion of One Equity Share for every One Equity Share held by them and 1800 Equity Share of Rs.10/- each at a premium of Rs.4/- per share to the employees of the Company

1995 - The company has signed an All India distribution agreement for Sales at Abacus Software products and the company expects excellant results for the current year.

- Mr. S.H.Uttamsingh & Mr. P.J. Ghelani retire by rotation and being eligible offer themselves for reappointment

1996 - Mr. M.D. Dhume & Mr J.K. Sayani retire by rotation and being eligible offer themselves for reappointment.

1997 - Shri. R.T. Shah the Director of the Company has expired on 16th October.

- Shri. Umesh J. Ghelani and Shri. S.H. Uttamsingh would retire by rotation at the ensuing Annual General Meeting and are eligible for re-appointment.

1998 - The company is on INTERNET under the site name as "abacusindia.com".

1999 - The company has launched its site as www.abacusindia.com and will be selling its products on-line in collaboration with a US based company through their expertise on e-commerce.

- Shri S. R. Karambelkar, Director would retire by rotation at the ensuing Annual General Meeting and is eligible for re-appointment.

- Shri Pankaj B. Madiawas re-appointed by the Board as Managing Director of the Company for a period of five years with effect from 1st May.

            - Shri Umesh J. Ghelani was re-appointed by the Board as whole time Director of the
               Company for a period of five years with effect from 1st May.
2000

-Allotment of shares on preferential basis to Paragon Software Ltd.

2003

-Abacus Computer launching a new version of Mosaic

2004

-The Chennai-based Abacus Netcomm, one of the business partners for IBM in Tamil Nadu, has launched Abacus Netcomm ThinkWorld, an exclusive showroom to showcase IBM personal computer products.