KENNAMETAL INDIA LIMITED Share price

Kennametal India Limited, formerly known Kennametal Widia India Limited was incorporated on September 21, 1964. The name of the Company was changed from Kennametal Widia India Limited to Kennametal India Limited on December 23, 2005. Since then, the Company is engaged in the business of manufacturing and trading of hard metal products and manufacturing of capital intensive machines along with fixtures and spares. It has a manufacturing plant in Bengaluru and sells product and services through sales and support offices. The Company is promoted by Meturit, Switzerland, Associates of the Fried Krupp Widia Fabrik Unit of Krupp Group, Germany, and Sak Industries, Switzerland. The Company's collaborator Meturit, Switzerland, holds 88.16% stake. In 1994, the company was taken over by Cincinnati Milacron, US. The company's wholly owned subsidiary Widaroc (India) got merged with the Company effective from January, 1995. It introduced several new state of the art products such as new generation milling cutters, new special solid carbide tools, new generation coated inserts, warming forging tools for bearing industry, cold forgings dies for big auto components, etc. During 2000-01, the company sub-divided its equity share face value of Rs.10/- each into 2 equity shares of Rs 5/- each and the company upgraded the Oil Well Rock Roller Bits. The company's Mining and Construction Tools business was sold for a cash consideration of Rs.64.9 crores to Sandvik Smith A.B/ its subsidiary with effective from 1, March 2004. During 2004-05, the company has installed the Hard metal and hard metal products with the capacity of 210 MT and the company expanded its installed the capacity of Special purpose machines including accessories by 50 Nos. The installed capacity of Special purpose machines including accessories has increased to 125 Nos. A regrinding center was established in FY 2011 at Jamshedpur through which the Company added two more regrinding centers at Pune and Gurgaon in FY 2012. Kennametal Inc., Promoter of the Company sold Equity Shares in March, 2013, aggregating 28,92,333 of the face value of Rs 10 each, through Offer For Sale (OFS) mechanism, which consequently, increased the public shareholding of the Company from 11.84% to 25% of the total paid up share capital of Company During the year 2020, the Company launched a range of new products as the 'INNOVATIONs' for the Kennametal brand and 'ADVANCES' for Widia brand. Products such as e-Bore (Digital Boring Solution), Mill 4 12 KT LH version & Slotting program, High Performance SC Drills for Steel (HPX) and Cast Iron (HPR), Machining Solutions for Composites, Milling products for Aero Structures ,PCD Milling and Reamers were included under the 'Kennametal' brand. Under 'Widia' brand, products such as e-Bore (Digital Boring Solution), TDMX, Shoulder milling platforms VSM11 & VSM17, new geometries introduced for Top Cut 4 drills, New victory grade for CI turning WK15CT and 2 new grades for VSM890 High Performance Shoulder Milling Platform were introduced. In 2022-23, the erstwhile Wholly Owned Subsidiary, Widia India Tooling Private Limited (WITPL) was merged with the Company through the Scheme of Amalgamation and made effective on December 7, 2022. At present, the Promoter's holding is aggregating to 75% as of June 30, 2024, in which Meturit AG is holding 51% stake and Kennametal Inc. is holding 24% stake. Company is promoted by Meturit AG. The Company launched the HARVIT II TE and GomillT PRO solid carbide end mills, TopSwissT inserts for small parts machining, KenDrillT HPR solid carbide drills, and the KCU25B universal turning grade in FY 2025. The Company built a unique concept of Horizontal Boring Machine of large size for a reputed construction equipment manufacturer during the year 2025.