1986 - The company was incorporated as a public limited company on
April, at New Delhi and obtained the Certificate of
of Business on 17th June, 1986. It was promoted by Dy
Ab, Finland (in equity participation with Finnish Fund for
Industrial Development Corporation Ltd.), Shapoorji Pallonji
Co. Pvt. Ltd. and Banaras House Ltd. The main objects &
activities of the company include the manufacture of high
diesel generating sets/engines in the range of 500 KW to 7500
1987 - The Company entered into a technical assistance & licence
agreement and technical assistance and services agreement
Oy. Wartsila Ab, Finland (WARTSILA) in May 1987, under which
Company was licensed to manufacture in India, Diesel
sets in the power range of 500 KW to 7,500 KW.
1989 - The technical collaboration agreement was transferred to Oy
Wartsila Diesel International Ltd; a wholly owned subsidiary
Oy Wartsila Ab, formed exclusively to cater to diesel
- Under the financial agreement, Wartsila agreed to contribute
the equity capital of the company alongwith Finnish Fund to
extent of 40% of the total equity capital.
- One DG set rated for 4 MW output was delivered.
- 70 shares subscribed for by the signatories to the memorandum
association. 89,99,930 shares issued at par of which the
following shares were reserved and allotted:
- (i) 22,50,000 shares to by Wartsila Ab, Finland; (ii)
shares finished Fund for Industrial Development Corporation
(iii) 9,29,930 shares to Shapoorji Pallonji & Co. (Pvt.) Ltd.
(SPC); and (iv) 4,70,000 shares to Banaras House Ltd. (BHL).
- Out of the remaining 40,000 shares, the following shares were
reserved for preferential allotment: (i) 10,00,000 shares to
(All were taken up); and (ii) 4,50,000 shares to
Employees/Workers of the Company as also to those of SPC and
(only 79,100 shares taken up).
- The balance 25,50,000 shares, alongwith the unsubscribed
of 3,70,9000 shares of the employees quota, were offered for
public subscription during May, 1989. Additional 6,00,000
issued to the public to retain oversubscription. 4,00,000
were also allotted to foreign collaborations (2,50,000 shares
Oy Wartisila Ab, and 1,50,000 shares to Finnish Fund for
Industrial Development Corpn., Ltd.) to maintain their
shareholding at 40%.
1990 - The depreciation of rupee against Finnish Mark adversely
the performance of the Company as it lead to increase in the
- The company started a training centre at Khopoli to impart
training to its own engineers & technicians. It was set up
the guidance of WARTSILA.
1991 - Five power plants aggregating 56 MW in captive power were
1995 - The parent company METRA entered into an agreement with
Fincantieri of Italy to merge the operations of its diesel
division Grandi Motori Trieste SpA, Diesel Ricerche SpA and
Sulzer Diesel (NSD) with Wartsila Diesel International Ltd. Oy
form `Wartsila NSD Corporation'.
- 20,34,000 Right equity shares issued at a prem. of Rs. 131.25
share to Wartsila Diesel Industries Ltd.
1997 - With the merger of operations of `Wartsila' and `Sulzer' and
change in name of Wartsila Diesel International Ltd. Oy to
Wartsila NSD Corporation, the name of the Company was changed
from `Wartsila Diesel India Ltd.' to the Wartsila NSD India
- Duff and Phelps India has assigned as Ind D1+ rating to the
Rs.15-crore commercial paper programme of Wartsila Diesel
Ltd. The rating indicates very high certainty of timely
- WDL will supply DG sets for the 117.5 mw independent power
producer being set up in Madurai by Balaji Industries.
- The company has installed around 1,100 MW of captive power
generation capacity at 77 sites around the country.
1998 - The company has an installed capacity of 25 sets a year at
Khopoli plant, which remains underutilised.
- The company's engine sets, capable of operating on a wide
of heavy fuel such as LSHS, high-speed diesel and furnace
would stand to gain the most from this boom.
- The company had successfully reduced its outstanding debt.
company has entered certain new lines of business which
operation and maintenance of power plants.
- Wartsila India is a subsidiary of Wartsila NSD of Finland,
is one of the largest power genset suppliers in the world.
- Wartsila NSD Operations India Ltd, a 100 per cent subsidiary,
has been formed.
- The company is forming a 50:50 joint venture with Coastal
Corporation, USA for supply of heavy fuels, primarily to the
customers of their power plants.
1999 - The company is also O&M contractor for DG sets (52mw) for
Ambuja Cements unit at Vadinar in Gujarat. The operations
maintenance is done by its 100 per cent subsidiary.
2001 - The name of the company has been changed from Wartsila NSD
India Ltd. to Wartsila
India Ltd effective 1st January.
-Wartsila Corp holds 6,562,442 shares of Wartsila India and Wartsila
Technology holds 3,637,300 shares of Wartsila India.
-Authorises DSP Merill Lynch Ltd as its agent to send the required
daily reporting of the open market purchases to NSE.
-Wins the contract for operating and maintaining the 25mw power plant
and Asea Brown Boweri Ltd for distributing electricity in Tronica
-Wartsila introduces new model of dual-free engines
-Wartsila has bagged an order from TEBMA for Mumbai port trust for
two tugs of 32 tone Bollard pull capacity
-Wartsila India executes agreement with GAIL for supply of Gas at MP
-Wartsila India signs MoU with PTC
-Wartsila India mulls gear box unit at Khopoli
-Wartsila India Ltd has appointed Mr. Vishram Panchpor as the Company
Secretary of the Company
- Wartsila inked a ship design contract with Pipavav Shipyard of
India. The contract calls for a total of 12 offshore supply vessels
to be designed by Wartsila and built by Pipavav for delivery to