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WABCO India Ltd.

BSE: 533023 Sector: Auto
NSE: WABCOINDIA ISIN Code: INE342J01019
BSE 00:00 | 18 Apr 6294.40 -12.10
(-0.19%)
OPEN

6300.00

HIGH

6315.00

LOW

6271.90

NSE 00:00 | 18 Apr 6302.85 -24.05
(-0.38%)
OPEN

6314.20

HIGH

6358.95

LOW

6264.00

OPEN 6300.00
PREVIOUS CLOSE 6306.50
VOLUME 613
52-Week high 8319.90
52-Week low 5798.40
P/E 38.84
Mkt Cap.(Rs cr) 11,934
Buy Price 6284.00
Buy Qty 2.00
Sell Price 6324.00
Sell Qty 2.00
OPEN 6300.00
CLOSE 6306.50
VOLUME 613
52-Week high 8319.90
52-Week low 5798.40
P/E 38.84
Mkt Cap.(Rs cr) 11,934
Buy Price 6284.00
Buy Qty 2.00
Sell Price 6324.00
Sell Qty 2.00

WABCO India Ltd. (WABCOINDIA) - Company History

WABCO India Ltd (Formerly known as WABCO-TVS India Ltd) is a leading supplier of technologies and services that improve the safety efficiency and connectivity of commercial vehicles in India. The company designs manufactures and markets conventional braking products advanced braking systems and other related air assisted products and systems. Its customers include Ashok Leyland Tata Motors Vehicle Factory (Jabalpur) Bharat Earthmovers Tafe Volvo Sutlej Caterpillar Eicher Motors Swaraj Mazda Force Motors Mahindra & Mahindra Tata Cummins (Engines). WABCO India operates five manufacturing facilities across India an advanced technology development center a vehicle testing facility and a nation-wide aftermarket distribution and services network. WABCO India is a subsidiary of WABCO Holdings Inc. USA a leading global supplier of technologies and services that improve the safety efficiency and connectivity of commercial vehicles. WABCO Holdings Inc. through WABCO Asia Private Limited Singapore holds 75% stake in WABCO India (as per the shareholding pattern as on 30 September 2018).The company was incorporated on November 18 2004 as a public limited company with the name Auto (India) Engineering Ltd. The company was established as a wholly owned subsidiary of Sundaram Clayton Ltd. In April 19 2007 the name of the company was changed to WABCO-TVS India Ltd.During the year 2007-08 the company commenced operations in their new manufacturing facility in a Special Economic Zone (SEZ) at 'Mahindra World City' near Chennai. In March 2008 the company entered into the scheme with Sundaram Clayton Ltd in which the company took over the Brakes Business of Sundaram Clayton Ltd with effect from the appointed date January 1 2007. In June 3 2009 WABCO Holdings Inc USA a global technology leader and tier-one supplier to the commercial vehicle industry raised their ownership position through indirectly owned subsidiary Clayton Dewandre Holdings Ltd Rotterdam to 75% which acquired 6795684 equity shares from the Indian promoters namely TVS group constituting 35.83% of the paid up capital of the company. Thus the company became the subsidiary of Clayton Dewandre Holdings Ltd.During the year 2009-10 the company obtained 'Super Platinum' award for their manufacturing excellence from Frost & Sullivan. In February 2010 the company agreed to an agreement with Mahindra Navistar Automotives Ltd for development and long term supply of air compressor technology products for braking systems and clutch servo technology with series production starting in 2010.During 2011 Company changed its name from Wabco-TVS (India) Ltd. to WABCO India Ltd. In 2012 the company inaugurated its new manufacturing facility at Pantnagar Uttarkhand. The company also inaugurated its plant 2 at SEZ Mahindra worldcity Chennai.During 2015 the company received various awards like Daimler India's Innovations Award for the year 2014-15 Tata Motors Supplier of the year award for the year 2014-15 Ashok Leylands Best in class performance in Quality award for the year 2014-15 Volvo Eicher Overall cost excellence award for 2015.On 1 April 2016 WABCO India informed the stock exchanges that the company has entered into an agreement which is on arms-length basis with M/s WABCO Europe BVBA a related party for payment of royalty at the rate of 4% on the net sales for using licensed intangibles and technical knowhow.