1970 - The Company was incorporated on 12th January. The Main object of
the company is to undertake contracts for the execution of heavy
electrical and mechanical works viz., erection of boilers and
turbines, piping and electrical installation work for power
projects, equipment and piping installation for fertiliser and
chemical plants, cement plants, sugar plants and other industrial
units and manufacture of napthalene based dye-intermediates and
all other kinds of chemicals.
- In and around 1963, A.S. Wardekar a promoted a partnership firm
in Calcutta by the name Western India Erectors mainly for
undertaking contract for the execution of heavy electrical and
mechanical construction work. The Partners of this firm decided
to float a private limited company to carry on the business. It
was converted into a public limited company on 24th November.
1973 - 1,892 II pref. and 1,20,140 No. of equity shares issued to
promoters, etc., and employees of the Company, 50,000 I pref.
shares subscribed for by ICICI at par to the public in June-July
1977 - 2,40,140 bonus equity shares issued in prop. 1:1 on 30th June
1979 - 480,280 No. equity shares issued as rights (prem. of Rs.5 per
share in the prop. 1:1). Out of this, promoters were entitled
for 2,42,868 shares but CCI permitted them to take up only
50,756 shares. The balance 1,92,112 shares were offered to the
public (prem. Rs.5 per share) during Jan-Feb 1980. 50,000 I
pref., shares redeemed on 21st March 1980.
1980 - 1,892 Preference shares redeemed on 15th October, at par.
1981 - 1,59,999 No. of equity shares issued to at a prem. of Rs.15 per
share to financial institutions of conversion of loans.
1982 - The Company undertook to diversify its activities in the field of
electronics and as a first step undertook to manufacture 'Hybrid
Integrated Circuits' in technical collaboration with New Market
Micro Systems, Ltd., Cambridge.
- Authorised capital increased. 6,72,336 Bonus Equity shares
issued in prop. 3:5
1983 - The Company along with Gujarat Industrial Investment Corporation
set up 16 wind mills in Gujarat under the name of 'Gujarat
Windfarms', in technical collaboration with Moerop Industrial
windmill Company, Miscon A/s Raiders Denmark and E Danish Wind
technology, AIS Viborg, Denmark.
1984 - The Company received a Letter of Intent for the manufacture of
message communication terminals in collaboration with Extel
Corpn., U.S.A. Necessary foreign currency loans and rupee loans
were sanctioned for the project by ICICI and SICOM.
- Industrial registration and foreign collaboration approval was
obtained for the manufacture of wind turbine generator upto 200
KWH rating to Gujarat WIE Windpower, Ltd.
- The Company undertook to set up a joint venture in Saudi Arabi
under the name of Arabian Erectors, Ltd. to execute contract for
erection of mechanical, electrical, instrumentation works and
civil construction pertaining to the industrial products being
established in that country.
- The Company decided to withdraw from this joint venture following
a new Saudi decree which adversely affected the joint venture.
- Following the Company's request, Government approved withdrawal
from the Saudi Joint Venture. Effective steps were being taken
to complete the necessary formalities.
- A Joint venture company named Industrial Erectors (Oman) L.L.C.
was established in Muscat, Sultanate of Oman executing erection
contracts in Muscat in particular.
1985 - The Company issued 6,15,000-13.5% secured convertible debentures
of Rs.130 each for Rs.799.50 Lakhs. Out of this, Rs.30 from each
debentures was converted into 2 equity shares of Rs.10 each at a
premium of Rs.5 per share, in January 1991. The non-convertible
portion redeemable at par in four equal annual instalments of
Rs.25 each on the expiry of the 7th, 8th, 9th and 10th year from
the date of allotment of the debentures.
1986 - In view of the continued losses incurred by the Chemical Division
a MOU was signed with Amal Rasayan, Ltd., for the sale of the
- Between 1986-87 and 1987-89 a number of stand alone products and
new products such as 'WIE Expert' and 'WIE Processor' were
introduced in the field of message communication systems.
- The Company's software group developed auto/try time delivery
feature for its existing WIE writer with a view to improve the
capability of the machine. The telex machines manufactured by
the Company incorporated indigenous content to a large extent.
1987 - The Erection Division had already started execution of certain
jobs valued at around Rs.640 crores. Posibilities were being
explored to diversify into allied activities of power sector,
such as refurbishing and reconditioning of heavy power plant
equipment, upgradation of technology in metal fabrication field
- 'WIE Estate Development Pvt. Ltd.' became a subsidiary of the
- The name of the Company was changed from Western India Erectors,
Ltd., to Western India Enterprises, Ltd., with effect from 15th
January, 1986. During 1993-94 the name was once again changed to
UB Engineering Ltd.
1990 - The Company suffered a set back due to heavy depreciation on the
assets at Kuwait and on account of poor performance of Electronic
- However, with the situation in the Gulf looking up, the Company
was in the process of bidding and negotiating some large jobs in
Saudi Arabia, U.A.E., Qatar, Baharain etc. In the domestic
market, a break through was achieved when a contract for hot
strip mill erection was procured by the Company.
- The Company acquired a liquor division (kay Distillery) of
'Forbes Campbell & Co.,' with effect from 1st April. The
division has been manufacturing Indian made Foreign Liquor like
Royal Guard Whisky, Henkes Whisky, Forbes Dry Gin, etc.
1991 - Turnover of the Erection division declined due to many reasons
such as unremunerative contracts, cost overuns, shortage of
working capital, low productivity, inflation, etc.
- The Company evaluated the business prospects of the crores
business of erection and electronics division. Considering the
good prospects of the said two divisions it was decided to sell
the Liquor division to McDowell & Co., Ltd., for a consideration
of Rs.8 crores.
- The Company discontinued its holding in the joint venture in view
of the sluggishness of the economy and paucity of funds in that
- 48,15,790 rights shares issued in January (prem. Rs.4 per share;
prop. of 1:1). Additional 7,10,270 shares allotted to retain
over-subscription. Another 2,40,790 shares offered to employees
(prem. Rs.4 per share) but only 6,035 shares taken up. The
balance 2,34,755 shares allowed to lapse.
1992 - Also the Company negotiated for supply of man power to Zimbabwe
and Iran for a value of Rs.5 crores. Orders worth Rs.100 crores
were on hand as at 31st March.
- The Erection Division diversified its activities into turnkey
jobs, management, prefabrication as well as into steel and
1994 - The Erection division secured a Rs.16 crore contract for
structural erection work at Sabiya power plant, Kuwait from
- In addition, contract for mechanical erection in respect of 8
boilers of 300MW each for Sabiya Power plant in Kuwait by
Mitsubishi heavy industries for value of Rs.65 crores was
- Also, contract valued at Rs.8 crores was received for
installation of pipeline at shell refinery in Singapore. The
Erection division made its presence felt by signing a contract
with a Japanese company for upgradation of cement plant at
- The Electronic division shifted its thrust to defence from
telecom sector. An agreement was signed with Eagle Aerospace,
USA for the manufacture of numeric and alpha numeric pagers.
-UB Engineering Ltd has bagged contracts worth Rs 60.35 crore in the power and steel sectors. Bharat Heavy Electricals Ltd has given it an order worth Rs 10.34 crore for the erection of two units of 250 MW each at Punjab State Electricity Boards Guru Hargobind Thermal Power Project (Stage II Units 3 and 4), Lehra Mohabbat, Bhatinda; while the Haryana Vidyut Prasaran Nigam Ltd has entrusted work worth Rs 27.12 crore for supply of equipment and erection for turnkey construction of 220 kV and 132 kV substations at Bahadurgarh. In the steel sector, Essar Construction Ltd has awarded a Rs 14.59-crore order for fabrication of structural steel and plate work for their expansion projects at Hazira in Gujarat. Jindal Steel & Power has given UB a Rs 8.3-crore order for mechanical work for its sinter plant project at Raigarh, Chhattisgarh.
- UB Engineering Ltd has informed that the Company has recently bagged turnkey contract worth Rs 880 million from Paschimachal Vidyut Vitaran Nigam Ltd, Meerut for rural electrification.
Further the Company informed that the Registrar of Companies, Pune has granted extension of time to hold Annual General Meeting of the Company (Financial year March 31, 2005) upto December 31, 2005.
-UB Engineering Ltd has informed that the Board of Directors of the Company, on December 28, 2007, has approved and adopted the Final Letter of Offer including Abridged Letter of Offer for Rights Issue to be filed with the Stock Exchange.
-The company has issued rights in the ratio of - 5:13 at a premium of Rs 116/- Per Share.
-UB Engineering Ltd has informed that the Board of Directors of the Company at its meeting held on July 31, 2008, inter alia, Ms. Nandini Verma has been appointed as an Additional Director on the Board of Directors of the Company.
-UB Engineering Ltd has that the Hon'ble High Court of Judicature at Bombay on March 06, 2009, has sanctioned the Scheme of Arrangement between WIE Estate Development Ltd ('WIE'), a wholly owned subsidiary of UB Engineering Ltd and UB Engineering Ltd ('UBEL' or 'the Company') and their respective shareholders ('the Scheme'). Appointed Date of the Scheme is January 01, 2009.
The Company and WIE have filed Form 21 with the Registrar of Companies at Maharashtra, Pune and accordingly the Scheme has become effective from March 30, 2009.
The Scheme, inter alia, envisages the following:
- Transfer of all the assets and liabilities of WIE to UBEL.
- No issue of shares pursuant to the Scheme as WIE is a wholly owned subsidiary of UBEL; and
- WIE stands dissolved without being wound up.
- Ub Engineering Limited has informed that the Board in its meeting held on August 12, 2010 approved appointment of Mr. Balkumar Agarwal as an additional director of the Company.