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Walchandnagar Industries Ltd. Company History and Annual Growth Details

1908 - The company was incorporated on 25th November, at Mumbai. The
company manufactures sugar refined spirit, sugar machinery,
plastic goods, cement plant paper and pulp plant, water tubes
boilers, time pieces, etc. Sugar is manufactured by the double
sulphitation process.

- 2,500 No. of equity shares issued without payment in cash.

1945 - 13,500 Right Equity shares issued (Prem. of Rs. 2000 per share;
prop. 27:20).

1946 - 27,000 'A' Bonus Equity shares issued in the proportion 1:1.
(Pref./or Equity).

1947 - 50,500 'A' Bonus Equity shares issued in the proportion 1:1.

1954 - Equity and Equity 'A' shares were reclassified as Equity shares.

1958 - 46,500 Right Pref. shares issued in the proportion 2:5
(Preference and/or Equity)

1961 - 50,500 Right Equity shares issued at a premium of Rs. 30 per
share in the proportion 1:2.

1966 - In November, 30,000 Bonus Equity shares issued in the proportion

1976 - 1,177 Equity shares allotted at par on conversion of debentures.

1977 - Shares subdivided and authorised capital Increased. 360 shares
allotted at par on conversion of debentures. 1,62,720 No. of
equity shares issued to members of Cooper Engineerings Ltd. on
its merger with the Company.

1978 - With effect from 1st April, Cooper Engineering Limited and Tiwai
Industries Limited were amalgamated with the company.

- In terms of the Scheme of Amalgamation, shareholders of Cooper
Engineering, Ltd. were allotted without payment in cash 1,72,720
No. of equity shares of Rs. 10 each of the Company in the
proportion 1 equity shares of Rs. 10 each of the Company for
every equity share of Rs. 100 each held by them in Cooper
Engineering, Ltd. Similarly, shareholders of Tiwac Industries,
Ltd. were to be allotted 10,154 No. of equity shares of Rs. 10
each of the Company. Franctional entitlements were to be
consolidated and sold and the net proceeds were to be distributed
amongst the members entitled there in the respective proportion.

1979 - The Company entered into a collaboration agreement with Polysins
GmbH, West Germany, for manufacture of cement machinery at the
Company's factory.

1980 - The Company executed the first set of 15,000 H.P. marine gear box
for the Navy.

- The Company manufactured and supplied LPG tanker wagons to Indian
Oil Co., Ltd. and Bharat Petroleum Co., Ltd., vessels and columns
to VAM Organics and Assam Refinery project and sodium pump and
control drive mechanism to Department of Atomic Energy.

- Cooper Division came into existence with the merger of Cooper
Engineering, Ltd.

1981 - 10,154 No. of equity shares issued to the shareholders of
erstwhile Tiwac Industries, Ltd. in terms of the Scheme of

1982 - The Company concluded a technical collaboration agreement with
M/s. Fratelli Negri Machine Sud S.r.l., Italy (executed through
their associates Technolicence, Ltd., London, U.K.).

- An agreement was being finalised with the Premier Automobiles,
Ltd. to transfer to them the know-how acquired and the develoment
works carried out for FNM diesel engines. This was being done to
overcome liquidity problems.

- During the period, the company also entered into a technical
collaboration with M/s. Hitachi-eiki Co. Ltd., Japan. This
collaboration covers the manufacture, in India, of computerised
numerically controlled (CNC) machines centres in vertical and
horizontal versions.

- The Company revalued its land (free hold), buildings and plant
and machinery as on 1st October.

- 10,01,502 bonus equity shares issued in prop. 1:2 and allotted in

1984 - Due to poor quality of cane supplied the recovery was lower than
the previous period.

1985 - Operating results were adversely affected by prolonged labour
unrest at Walchandnagar works and overrun on overseas turnkey
project at Indonesia.

1986 - Recession in engineering industry in general and fall in demand
for sugar and cement machinery in particular had adversely
affected the performance of the Company.

- The crushing of sugar cane was taken up in collaboration with
I.S.S.K. Ltd.

- Government has approved a technical collaboration agreement by
the Company with M/s. Euroconsult B.V., Netherlands for transfer
of technical data and know-how relating to manufacture of
Effluent Treatment plants.

- Walchand Tandur Cement Co., Ltd. became a subsidiary of the
Company with effect from 23rd June.

1987 - The Company was reported to have turned the corner with more
funds invested into the Industrial Machinery division due to the
sale of the Company's machine tool division at Chinchwad, to
Premier Automobiles, Ltd.

- The Company entered into a technical collaboration agreement with
M/s. MAAG Gear Wheel Co., Ltd., Zurich, Switzerland for technical
back-up in the manufacture of gear boxes for Corvette Ships.

- The Company's R & D developed Hyper Extraction rolls and VAC
rolls for sugar mills. Also, a Centrifugal machine WAL-KONTI
1150 DC was introduced in the market. In addition, a micro
processor based system for automatic control of high performance
Centrifugal machines were well received in the market. During
the year, an application was filed for patent for the company's
auto setting mill for sugar plants which was developed in-house
by the Company.

1988 - The Company decided to dispose of plant and machinery of its
sugar division at Walchandnagar in favour of M/s. Indapur
Sahakari Sakhar Karkhana, Ltd. (I.S.S.K. Ltd.), indapur,
effective from April.

- The precision instruments division, also known as Tiwac division,
introduced a Quartz Alarm Clock in the market.

1989 - The Sugar plant was disposed of in favour of M/s. Indapur
Sahakari Sakhar Karkhana Ltd.

1991 - The working of engine and foundry division was subdued due to
lower order book position on account of recession in the
automobile industry.

1992 - 10% Pref. shares redeemed.


-Equity shares delisted from Bangalore & Pune Stock Exchanges

-Walchandnagar Industries Shares delisted from Delhi Stock Exchange


-Walchandnagar Industries Ltd has informed that Mrs Sharayu Daftary has resigned as Director from the board of the Company w.e.f. October 24, 2006.

- Walchandnagar Industries Ltd has appointed Mr. Shashi Bhusan Das as a Director of the Company w.e.f. May 21, 2007.


-The Company has issued Bonus Shares in the Ratio of 1:1.

- The Company has splits its face value from Rs10/- to Rs2/-.
Oct 21, 12:00 am
Oct 21, 4:14 pm
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