W S Industries (India) Ltd

W S Industries (India) Ltd.(WSI), incorporated in 1961 as W S Insulators of India is into manufacture of a wide range of insulators, lightning arresters, coupling capacitors, capacity voltage transformers, instrument transformers, line traps and reactors. The company is also into collaboration with Messwandler, Germany for manufacture of oilinsulated and SF6 instruments. The Company operates in two business segments, Insulators and Turnkey Projects.Incorporated originaly as W S Insulators of India and promoted by N S Sethuraman and V Srinivasan of Hydro S S Industries and W S Telesystems the name was changed to the present one in 1987. To part finance its Rs.20.18 crore modernisation programme and to meet its working capital needs the company came out with a rights issue(aggregating Rs.13.35 crores at a premium of Rs.30) in December 1992.The company in association with Canadian Electricity Board and a local Entrepreneur has set up a JV company under the name W S Industries (North America) in Canada. The JV company thus setup will act as an assembly unit and the company has participated in the equity of the company. The company which was given an export house status by GOI exports its products to Europe, west Asia, east Asia, Australia, Canada, etc. The company has also accredited with ISO 9001 certification in 1991 for a period of three years, and it was recertified in 1994. The company is also successfull in development of new products, during the year 2000, the company has developed several new products in disc, pin and solid core procelain insulators as per ANSI standards for supply to the US markets.SSB Industries Ltd, which owns Surge Arrester Factory in Pondicherry was amalgamated with the company with effect from April 1, 2001. and the company is also proposes was amalgamated with the company and the company proposes to modernise the chennai plant the implementation of which is started and is expected to be completed within a period of one year.W.S.Electric Limited, a subsidiary of Company, had got into a Joint Development Agreement with TCG Software Parks Private Limited for developing an IT Park in the land transferred to it and the resultant, Phase I construction work was commenced during the year 200506. The Company commissioned a New Wind Energy Generator of 600 KW during the year 200708. The commercial production of Greenfield Project Second Unit in the Special Economic Zone at Visakhapatnam was commenced in Jul 09. During the year 201011, 31,000 Equity Shares of Rs.10/ each, fully paidup, held by the Company in W.S. Electric Limited, were transferred to W.S. Insulators Limited, another subsidiary of the Company. A further 10,000 shares were approved for transfer to W.S.Insulators Limited during the current year. With this transfer, W.S. Insulators Limited holds 41,000 Equity Shares (38.86%) of W.S. Electric Ltd. while your Company holds 21,000 (19.91%).During the year 201112, 10,000 Equity Shares of Rs. 10/ each, fully paidup, held by the Company in W.S. Electric Limited, were transferred to W.S. Insulators Limited, another subsidiary of the Company. During the year 201314, W.S. Insulators Limited was renamed as W.S. T D Limited. The Company acquired the balance share capital from other shareholders and consequently W.S. T D became the wholly owned subsidiary of Company.The shares of W.S. Electric Limited were transferred to the wholly owned subsidiary, W.S. T D during 2014. W.S.Electric Limited has ceased to be a subsidiary of Company as on December 29, 2016.During the period 201819, W.S. TD Limited was made wholly owned subsidiary upto 27th March 2019 and Vidagara Tech Park Private Limited, which was incorporated 29th October 2018 became a 100% wholly owned subsidiary with effect from 12th March 2019.