Walchandnagar Industries Ltd (WIL) rose 9% to Rs.103.80 today, recording an over 3 times spurt in volumes too.
WIL and Indian Space Research Organization’s Vikram Sarabhai Space Centre (VSSC) have entered into a contract whereby WIL will manufacture and supply “S-139 End Segments” for the Polar Satellite Launch Vehicle (PSLV) program.
The contract value is Rs.96 crore plus escalation and is likely to be executed over a period of three years.
This happens to be WIL’s highest ever single order received from VSSC and is seen as a major boost for the company’s Aerospace business.
Dovetailing its production capacities with ISRO’s plans in order to meet the requirements, WIL has already undertaken a capacity expansion program at its heavy engineering facility at Walchandnagar and is well poised to benefit from this latest development.
WIL’s association with ISRO began in 1973 with supply of flight hardware for SLV3 and has extended to all subsequent programs like ASLV, PSLV, GSLV MK-II and GSLV MKIII. WIL also played a part in the celebrated Chandrayaan and Mangalyaan missions.
WIL is a 111 year old heavy engineering company which has business interests in strategic sectors like Defence, Missile, Aerospace, Nuclear Plant Equipment and Gearboxes apart from its traditional EPC business in Sugar and Cement sectors.