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WPIL Ltd. Company History and Annual Growth Details

YEAR EVENTS
1952 - The company was incorporated on 6th February, at Calcutta, under
the name and style of Johnson Pumps India Ltd. The main
objective of the company is to manufacture vertical pumps,
horizontal pumps, grey iron castings and sluice valves.

- 31,800 shares held by Mecnell & Magor Ltd., 20,000 shares by Pump
Investment Inc., USA and 29,000 shares by resident Indian Cos.

1980 - The land and buildings at Panihati and Ghaziabad were revalued.

- Clivia Investments Ltd., is a wholly owned subsidiary of the
Company.

1983 - The name was changed to Worthington pumps India Ltd. on 29th
January.

1984 - The company entered into a licence agreement with Worthington
Pump Inc., New Jersey, U.S.A for the manufacture of solid
handling pumps, stock pump and horizontal spilt casing
centrifugal pumps.

- The company entered into another technical collaboration
agreement with Hyward Tyler Ltd., England (HTL) for the
manufacture of vertical submersible pumps made by the company.

- Equity shares subdivided. During February 1985, 8,92,000 No. of
equity shares of Rs. 10 each issued at par. Of these, 2,20,800
No. of equity shares reserved for firm allotment to Pump
Investment Inc., USA, 1,02,800 No. of equity shares for Macneil &
Magor Ltd. Calcutta. The balance 5,68,400 No. of equity shares
issued to the public.

1985 - Despite an increase in sales and income, profits declined due to
steep rise in cost of inputs and interest burden for on-going
capital projects.

- The company manufactured large size submersible motors as per
Hayward Tyler design. Pump sets with special features for
dewatering of mines were under execution to serve import
substitution.

- The Company achieved a breakthrough in S.E. Asia, Brazil and
North America, with the support of Worthington International,
USA.

1986 - Considerable additions were made to the range of horizontal and
submersible pumps. During the year, the company executed an
order for the US market.

1987 - Operations at the Company's main plant at Panihati in West Bengal
was affected by lock-out from 3rd November.

- Steps were taken for manufacture of precision components for
pumps.

1988 - The lock-out was subsequently lifted after a bi-partite agreement
signed by the union and management on 18th April.

- 700 forfeited shares reissued. 12,75,000 rights shares then
allotted at par in prop. 3:4. Another 63,750 No. of equity
shares issued to the employees but only 310 shares taken up. The
balance 63,440 shares allowed to lapse.

1989 - Backlog of orders accumulated at Panihati which was under
lock-out was reduced and current orders were executed with better
margins. Order book position was good. An order for 90' CW
pumps was received for Talchar Super Thermal Power Station.

1991 - The performance would have been still better but for the set-back
due to the Ghaziabad unit of the company remaining under lockout
from 7th November.

- The Company proposed to upgrade the manufacturing facilities to
cater to the requirement of process pumps and also to improve
efficiency, productivity and quality assurance.

1992 - During the year the company executed an order for 5 nos. of 90'
vertical turbine pumps for National Thermal Power Project at
Farakka.

- The Company initiated a process of gradual upgradation of its
manufacturing facilities and strengthened the production
facilities for horizontal pumps.

- 9,91,770 Rights equity shares allotted for cash at par in
proportion 1:3.

1993 - During the year Company supplied two more 92' siz vertical
turbine pump to NTPC's Taleher Super Thermal Power Project.

1994 - The Company undertook a expansion and modernisation plan at
Ghaziabad foundry with the objective of producing pump castings
and components of international quality and of larger single
piece weight castings.

1995 - During the year under review the Company obtained its ISO 9001
Certification from TUV CERT Germany being the first Pump Company
in the Eastern Region to have received ISO Certification.

1996 - The name of the company was changed to WPIL Limited with effect
from 17th September.

1997 - The company has been awarded the Certificate of Export Excellence
during the year in recognition of its continued good export
performance.

- The Company has commenced its first phase of
expansion/modernisation in Panihati Plant to augment production
capacity for medium and large size pumps.

- Pump manufacturer WPIL Ltd, formerly Worthington Pump India
Ltd, has entered into a technical agreement with Riva Hydro of
Italy for manufacturing concrete volute casing pumps in the
country.

- WPIL has also signed a memorandum of understanding (MoU) with
EMC of Germany for submersible pumps

1998 - Having achieved ISO-9001 certification for both the Panihati
and Ghaziabad plants.

1999 - Ghaziabad Plant has received re-certification of ISO 9001 in the
month of March.

2000 - The company has proposed to allot 20,00,000 No. of equity shares
at Rs. 10 per share to Dufflaghur Investments Ltd and 20,00,000
No. of equity shares at Rs. 10 per share to Natex Investment &
Marketing Ltd. by way of preferential allotment basis.

2002-Wpil Ltd has informed BSE that Dr P D Ojha has ceased to be a Director of the Company.
 
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