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BSE: 507410 | NSE: WALCHANNAG | ISIN: INE711A01022Market Cap: [Rs.Cr.] 271 | Face Value: [Rs.] 2
Industry: Engineering
Walchandnagar Industries Ltd is a diversified heavy engineering project execution company in India and internationally. The company's principal activities are engineering, fabrication and manufacture of machineries for sugar plants, cement plants and boilers, heavy duty gears, mineral processing, special and general engineering equipments. They are having a significant presence in several core sectors such as Steam Generation & Power projects, Aerospace and nuclear power program, Cement projects, EPC, Industrial & marine gear boxes and Sugar projects. The company operates in three segments, namely Heavy Engineering, Foundry & Machine Shop and Others. The Heavy Engineering segment is engaged in engineering, fabrication and manufacturing of machinery for sugar plants, cement plants, boilers, heavy duty gears, mineral processing, defense and nuclear power business. Foundry & Machine Shop segment manufactures cast iron and spheroidal graphite iron castings required by various industries and machining of components.
Others segment includes units manufacturing pressure and temperature gauges and infotech services. Walchandnagar Industries Ltd was founded by Seth Walchand Hirachand, the Visionary Industrialist & Patriot on November 25, 1908. Today, the company has evolved into a diversified, high tech heavy engineering and project execution company with strong manufacturing & project management capabilities. In the year 1978, Cooper Engineering Ltd and Tiwai Industries Ltd were amalgamated with the company with effect from April 1, 1978. In the year 1979, the company entered into a collaboration agreement with Polysins GmbH West Germany for manufacture of cement machinery. In the year 1980, they executed the first set of 15 000 H.P. marine gear box for the Indian Navy. In the year 1982, the company entered into a technical collaboration with Hitachi-eiki Co Ltd Japan for the manufacture of computerized numerically controlled (CNC) machines in India. In the year 1986, Walchand Tandur Cement Co Ltd became a subsidiary of the company with effect from June 23, 1986.
In the year 1987, the company entered into a technical collaboration agreement with MAAG Gear Wheel Co Ltd, Switzerland for technical back-up in the manufacture of gear boxes for Corvette Ships. In the year 1989, they disposed the sugar plant in favour Indapur Sahakari Sakhar Karkhana Ltd. During the year 1999-2000, the company undertook execution of three projects for generation of power through use of non-conventional fuel such as agriculture waste. They also developed energy efficient equipments for Sugar Manufacturing Machinery and tied up with UBE of Japan for supply of Pre-grinders and Grinding Mills for Cement Machinery with superior features. During the year 2000-01, the company made an investment of two million US dollar in a joint venture company in USA known as MediDeal.com Inc.
They commissioned two EPC projects for generation of power for generation of power from agricultural waste. Also, the company entered into hospitality business as a part of the diversification programme. During the year 2001-02, the company sold the shares of MediDeal.com Inc. Thus, MediDeal.com Inc ceased to be a subsidiary company with effect from December 26, 2002. During the year 2002-03, the company commissioned a power plant based on Municipal Waste as fuel. This is the first power plant of its kind in the country. The company also successfully completed some prestigious Critical Defence jobs during the year. During the year 2003-04, the company completed the prestigious Mineral Processing Projects of Hindustan Zinc. They also delivered various critical equipments for Nuclear, Defence and Space projects.
During the year 2004-05, the company booked export order for supply of 1000 TPD cement plant for Zambeji Portland Cement Ltd, Zambia at the price of Rs. 5,836 lakhs. During the year 2005-06, the company received orders for EPC projects in the field of Mineral Processing. Also, the company booked export orders worth Rs. 6,482 lakhs from Konkola Copper Mines PLC, Zambia and Kuwait Cement Company. During the year 2006-07, the company executed orders for Material Handling and Back Fill Plant Konkola Copper Mines, Zambia, Cement Plant at Kuwait Cement Company, Kuwait, High Pressure Boiler for Ingenio Providencia Colombia, at Colombia. They sold investment in their subsidiary, Walchand Tandur Cement Company Ltd, for a consideration of Rs. 121.12 lakhs since the project for setting up of a cement plant did not get implemented.
During the year 2007-08, the company made a technology tie up with Foster Wheeler North America Corporation (Foster Wheeler), USA for high pressure, high temperature and high capacity industrial boilers. This collaboration will enable your Company to address the power generation up to 100 MW, both in Co-Gen as well as IPP mode. The company also made a technology tie up with Magotteaux SA of Belgium for Air Separator technology for the cement industry. The company is in the process of executing the Orders for Cement Machinery for Maweni Linestone Ltd, Tanzania and EPC project for Waste Crushing & Screening for KCM in Zambia.
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