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Kennametal India Ltd. Company History and Annual Growth Details

1925 -The company was set up in 1925


- The Company was Incorporated on 21st September, at Bangalore. The
Company was promoted by Meturit AG., Switzerland, associates of Fried
Krupp Widia-Fabrik unit of Krupp group of industries, West Germany, and
Sak Industries Private Ltd. The Company Manufacture hard metal
products including tungsten carbide products, mining tools and special
purpose machines.


- On 10th May, the Company entered into a technical collaboration
agreement with Meturit AG.

- 24,000 'A' Equity shares issued to Meturit A.G. Switzerland. (23,996
shares without payment in cash. 7,100 'B' Equity shares issued to Sak
Industries (P) Ltd. 1,060 'B' Equity shares issued to Sundaran
Industries (P) Ltd. against supply of land. 7,840 'C' Equity shares
offered to public in May 1967.


- 1,063 'B' Equity shares and 1,021 'C' Equity shares issued at a prem.
of Rs 140 per share.


- 1,889 'B' Equity and 1,815 'C' Equity shares issued as rights in
prop. 1:5 in 1975 (prem. Rs 170 per share). 24,000 'A' 11,112, 'B' and
10,676 'C' equity shares issued as bonus shares in prop. 1:1 in April


- 24,000 'A' Equity, 11,112 'B' Equity and 10,676 'C' Equity shares
issued as bonus shares in prop. 1:2 each series.


- 1,945 'A' shares converted into 1,945 'B' shares by transfer to 'B'
equity shareholders. 23,352 'A' 11,760 'B' and 10,676 'C' equity
shares then issued as bonus shares in prop. 1:3.


- Bonus Equity shares issued in December, in prop. 1:1 in each class of
equity shares.


- Widaroc (India) Ltd. became a subsidiary of the Company. Effective
from 1st January 1995, Widaroc (India) Ltd. was ceased to be a
subsidiary of the Company as it was merged with the Company.


- Bonus Equity shares issued in prop. 1:2 to all classes of shares.


- 6-Axes tool and cutter grinding machine was introduced in the market.

- The Company was implementing modernisation programme at Bangalore and
Patancheru plants.

- Several developmental items such as new tool system for CNC tools,
improved coated carbides, flexible automatic work handling systems,
etc, were taken up for commercial exploitation.


- Few developmental items were taken up such as ceramic and cermet
inserts and ceramic parts for electrical and electronic applications.


- New products like indexable inserts with new geometries, new
generation of milling cutters, lazer making machines, etc. were

- Holders of 'A' and 'B' series Equity shares can transfer their shares
to the other holdes of 'A' and 'B' series Equity shares only. 'C'
series Equity shares are freely transferable.

- The Company privately placed 18% non-convertible debentures for Rs
300 lakhs with financial institutions. These debentures are redeemable
at a premium of 5% in five equal instalments starting from 20th August
1997 and ending on 20th Aug. 2001.


- New machines such as coated milling grade for cast iron milling to
cater to automotive sector, milling cutters M650 milling inserts of New
Geometries, turning and cermet inserts were introduced. The company
proposed to designs its product profile to cater to the emerging market
requirements in the country in the State-of-the-art technology.


- The new products developed such as new gradient sintered coated
grades and inserts with improved geometrics contributed substantially
to the growth.

- The Special purpose machine division developed for the first time
several sophisticated and precision machines like CNC Broach
Ressarpening machines, Compact 4 Axes CNC tools & cutter grinder for
small tools, a fully automated laser making machine etc.

- Bonus equity shares issued in prop. 1:1 to all classes of shares.


- The main customer segments of the company viz. general engineering
and auto industry remained sluggish. The company undertook several
calculated measures to ensure that profitability does not get eroded.
The Company set up a representative office in Indonesia.

- As on 31st December, 5,60,442 'A' Equity were held by Meturit A. G.
Zug, Switzerland.

- As at 31st December, a sum of Rs 10.60 lakhs were outstanding against
term loans from ICICI.

- The company proposes to focus on setting up a totally automated
manufacturing line to cater to the needs of automobile sector.

- The enhanced commercial paper (CP) programme of Widia India Limited
has been assigned a P1+ rating by Crisil. This rating indicates that
the degree of safety regarding the timely payment on the instrument is
very strong. Widia's CP programme has been enhanced from Rs.5 crore to
Rs.10 crore.


- The Bangalore-based widia India, a 51-per cent subsidiary of Krupp
Widia (Germany), is one of the prominent players in the manufacture of
cutting tools equipment and special purpose machinery.


- Widia, in collaboration with Widia Gmbh of Germany, started
commercial production in India with a workforce of less than 50 way
back in 1967. The collaborators, Widia Gmbh, have an equity
participation of 51 per cent in its Indian operations.

- The company's supply of rock roller bits to the oil exploration
sector too would be affected in future as the Union Budget has
recommended granting exemption to capital goods and products imported
by ONGC and Oil India Ltd. for petroleum operations.

- The company has finalised an agreement with the employees'
association of its Bangalore plant for a period of 4 years starting
from January 1, 1998.

- The company's performance depends on the engineering and automobile
sectors. It has a technical collaboration with Widia, Germany, and Sak
Industries Private Ltd.


- The Company has announced a 1:1 bonus issue of its shares. It has
also proposed a 10-for-1 stock split with the Rs 100 face-value share
to be divided into 1 shares of Rs 10 each.

- The Company has proposed to subdivide its equity shares of the face
value of Rs 100 each to Rs 10 per share in line with the current trend
and expectations of the investors.

- Widia (India) Ltd, the Bangalore-based machine and mining tool
manufacturer, will issue bonus shares on the basis of one bonus share
for every one held.

- Widia has lowered the face value of its shares from Rs 100 to Rs 10
besides issuing bonus shares in the ratio of 1:1.

- Widia India has embarked upon e-commerce by setting up a Web site to
make the reach to the customers and them to the company easier to deal
with the machine tools in which it has a leadership position in the


-The Widia group is being taken over by the, US-based Kennametal Inc, it has already signed an agreement to buy the group in Europe and India from Milacron Inc for $170 million.

-idia (India) Ltd has informed BSE that Mr.Juergen Schubert and Mr.Andreas Nobis have resigned from the Board of Directors of the company. Mr.Gerd Wagner also ceases to be the member of the Board and Managing Director and CEO of the company with effect from October 30, 2002.


Widia India Ltd has announced today (March 6, 2003) appointment of Kumar Kanetkar as the Managing Director of the Company.

-Kennametal Widia Board approves sale of mining and construction tools business

-Implements a VRS package costing Rs 134 million. Announces the launch of Kennametal University in India to help customers increase their manufacturing productivity through better understanding of the metalcutting process

-Signs agreement with Sandvik Smith AB for the sale of the Company's mining and construction tools business unit at Patancheru in Andhra Pradesh


-Kennametal India Ltd has inducted Mr. Douglas Charles Phillips as Directors on the Board of the Company.

-Kennametal India Ltd has appointed Mr. Dinakar A, as Managing Director of the Company with effect from July 01, 2007.


- Kennametal India Ltd has appointed Dr. Esat Kamal Yegenoglu as Director on the Board of the Company with effect from April 30, 2009.


- Kennametal India Ltd has informed that the Board of Directors of the Company have appointed Mr. Bidadi Anjani Kumar, as Additional Director of the Company with effect from April 02, 2010.

- Kennametal India Ltd has appointed Mr. Vinayak Kashinath Deshpande as Additional Director with effect from September 06, 2010 (Non-Executive Independent Director).
Oct 21, 12:00 am
Oct 21, 4:14 pm
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