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UB Engineering share price today (on 22 March 2023).
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Live Chart - UB Engineering Ltd
BSE: 509992 | NSE: UBENGG | ISIN: INE328C01013Market Cap: [Rs.Cr.] 58 | Face Value: [Rs.] 10
Industry: Engineering
UB Engineering (UBEL), a part of UB Group incorporated in 1972 as Western India Enterprises (WIEL) by A S Wardekar is one of the largest Engineering and Construction company in India. UBEL offers services such as Concept to Commissioning works on Turnkey projects, on-site Fabrication, Piping, Equipment installation, Overhauling & Maintenance of large infrastructure & Industrial Plants, from Power to Refineries to Steel to Petrochemicals and so on. Incorporated in 1972 as Western India Enterprises (WIEL) by A S Wardekar, subsequent to the take over of WIEL in 1988 by Vijay Mallaya the company came into the fold of UB Group.
Further the company was merged with Best & Crompton in 1989. The name of the company is also rechristened as UB Engineering Ltd in 1993. UBEL came out with a rights issue in Jan '91 aggregating Rs 7.00-cr at a premieum of Rs.4 per share to meet capital expenditure and long-term working capital requirements. UBEL has entered into a joint venture with Sabroe Refrigeration, Denmark, for marketing refrigeration equipment.
It has also incorporated a new company named UB Sabore. It has collaborated with Newmarket Micro Systems, UK, for the manufacture of film hybrid circuits and also with Extel Corp, US. UBEL has tied-up with Technopromexport, Russia, in the power services sector. The company exports to Kuwait. The electronics division of the company got the ISO 9001 certification in 1993-94. The company acquired Kay distillery, Nasik, for entering the liquor industry in collaboration with Forbes and Cambell in 1990. UBEL was awarded the Engineering Export Promotion Council Shield for 1988-89.
The company which bagged a Rs 1500 crore electromechanical service contract from Mitsubishi Heavy Industries in Kuwait executed successfully. The company won a Certificate for Export Excellence from the Engineering Export Promotion Council for the highest exports in the non-SSI sector for the year 1996-97.
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