Hyderabad Allwyn

Hyderabad Allwyn Limited, established in 1942, was a Hyderabad State government engineering and white goods manufacturing company involved in manufacture of automobiles, trucks, scooters, bus coach building, refrigerators and wrist watches.[2]

Allwyn Refrigerators and Allwyn Watches were once a leading brand in India during the 1970s and 1980s. The company was closed in 1995 after heavy losses, primarily due to mismanagement.[3]

Early history and products

Hyderabad Allwyn Limited was established in January 1942 as Allwyn Metal Works. It was started as joint venture of Industrial Development Trust of the Nizam's Hyderabad Government and M/s Allwyn & Company.[4]

Hyderabad Allwyn Metal Works Limited used to assemble Albion CX9 buses for Hyderabad State Railways,[5]

Closure and aftermath

However, by the mid-1990s the performance of the company was very weak and by 1993 all its reserves were washed off. Hyderabad Allwyn Limited had become sick company when its accumulated losses had exceeded Rs.180 crores (INR 1.8 Bn) as on 31 March 1993 and was referred to the Board for Industrial and Financial Reconstruction (BIFR) under the provisions of the Sick Industrial Companies (Special Provisions) Act, 1985. Hyderabad Allwyn become a company with negative net worth.[14] The BIFR in January 1993 declared Hyderabad Allwyn Ltd., as a sick industry and appointed IDBI as an operating agency to prepare a rehabilitation scheme. The Government of Andhra Pradesh agreed to amalgamate Hyderabad Allwyn Limited's Refrigeration and Appliances division with Voltas Limited, a Tata group company which retained only 5000 Allwyn employees.[15]

The company had three divisions: bus body building, watches, and refrigerators. The Watch Division of erstwhile Hyderabad Allwyn Limited was formed into a new company as Allwyn Watches Limited and the Auto and Bus Body division was formed into a new company called Allwyn Auto Ltd. Consequent to the scheme of Amalgamation as approved by the BIFR, M/s.Hyderabad Allwyn Limited ceased to be in existence.

The refrigerators division which was privatised in 1994 and handed over to Voltas continued with the Allwyn range of models.[16] In 2002, Voltas themselves sold their refrigerator division to the Sweden based Electrolux, which phased out the Allwyn models.

APSL, the scooter division is also presently liquidated.[17] The watch division is now closed and is pending before BIFR.

Sale of Allwyn Nissan

In 1989 Allwyn Nissan was privatised and sold to Mahindra, renaming the company as Mahindra Nissan Allwyn Ltd.[18] In 1994 MNAL was merged with Mahindra & Mahindra, and the Zahirabad unit is Mahindra & Mahindra's light commercial vehicles unit. The old Allwyn Nissan LCV is still sold by Mahindra as the Mahindra Loadking in various configurations like light tipper and Kerala remains one of its largest markets.

type	now defunct, Public Sector Undertaking (Andhra Pradesh State Government)
foundation	1942, Hyderabad as Allwyn Metal Works Ltd.
hq location	Hyderabad
industry	Automotive, Watch, Refrigerators, Home appliance, Vehicle Coach building
products	Allwyn Refrigerators, Allwyn Watches, Allwyn Pusphak – Scooters, Allwyn – Nissan Cabstar Truck.
num employees	over 6500
dissolved	1999

Early history and products

Coach Building division

Refrigeration and Appliance division

Under Andhra Pradesh State Government

Tie-in with Nissan

Watch Division

Scooters

Closure and aftermath

Sale of Allwyn Nissan

See also

References