Kennametal India Ltd Company History

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

1976.

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

developed.

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

country.

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

Company has changed its name from Kennametal Widia India Limited to Kennametal India Ltd.

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).

Mr. Kundan Kumar Lal has been appointed as the Company Secretary & Compliance Officer of the company.

Mr. Bhagya Chandra Rao has been appointed as the Managing Director of the Company

Kennametal India has declared and approved the payment of interim dividend of Rs. 25/- per equity share of Rs. 10/- each [250% on the paid up capital of the Company].

Kennametal Leaders Recognized with Women in Manufacturing STEP Awards.

Kennametal Celebrates 75 Years of Advancing Innovation.

Kennametal Introduces NOVOsphere.

Kennametal Receives BMW Supplier Innovation Award.

Kennametal, Haimer Joint Partnership for Duo-Lock Modular Interface.

Kennametal Recognized with Bosch Global Supplier Award

Kennametal Ears Boeing Supplier Excellence Award For Quality and On-Time Delivery Performance

Kennametal Partners With Titans Of CNC To Launch Aerospace Academy.

Kennametal Named A Gold Winner Of The 2020 Edison Awards.

Kennametal board approve the merger of WIDIA India Tooling Private Limited with its holding company Kennametal India Limited.

Kennametal Introduces New Cutting Accessory - The Chip FA

Kennametal Adds Blast Ninja to its Leading portfolio of Abrasive Blast Nozzles

Kennametal Introduces Gold Standard Turning Insert Grade with Advanced Coating Technology