Walchandnagar Industries

Walchandnagar Industries Limited (India) supplies infrastructure and facilities for the production of the surface-to-air short-range Akash missile and the launching systems for Agni and Akash missiles for the Indian arsenal. It also manufactures the main thrust motor casing segment for the intercontinental ballistic Agni-V missile.

Company profile

Walchandnagar Industries Limited (“WIL”), based in India, is a heavy engineering and project execution company with activities in the areas of aerospace and defence, mining and metals, power plants, and other hi-tech and engineering sectors.[a]

In the financial year ending 30 September 2015, WIL generated revenues of Rp 5.6 billion (€ 75.1 million), resulting in a net loss of Rp 601.0 million (€ 8.1 million).[b]

Contact Information

Website: Facebook:
www.walchand.com www.facebook.com/WalchandnagarIndustriesLtd

 

Walchandnagar Industries Ltd.

3 Walchand Terraces, Tardeo Road,

Mumbai – 400 034, Maharashtra, India.

+91 (022) 4028 7110 / 2369 2295

Nuclear weapons

WIL supplies critical equipment for India’s Nuclear Program, including infrastructure and facilities for the production of combustion chambers for the surface-to-air short-range Akash missile and the launching systems for Agni and Akash missiles.[i] For the intercontinental ballistic Agni-V missile, WIL Aerospace department manufactured the main thrust motor casing segment. The Agni-V missile, which can carry a nuclear warhead of over one tonne, was test fired in January 2015.[ii]

Investors

 

Investors

The following financial institutions, all based in India, have made approximately US$ 16 million available to this producer since January 2013.

  • Lalitabai Lalchand Charity
  • Life Insurance Corporation of India
  • Olsson Holdings
  • Reliance Capital
  • Rodin Holdings

This page was last updated 29 November 2016.

Notes

[a]       Walchandnagar Industries, “About WIL”, Website Walchandnagar Industries (www.walchand.com/), viewed June 2016.

[b]      Walchandnagar Industries, “Statement of Unaudited Results for the Quarter and Twelve Months Ended on September 30, 2015”, Walchandnagar Industries, November 2015 (http://www.walchand.com/wp-content/uploads/2015/11/Unaudited-financial-result-for-Q4-ended-30.09.2015.pdf).

[i]       Walchandnagar Industries, “Defence & Missiles”, Website Walchandnagar Industries (www.walchand.com/business-area/defence-missile/), viewed June 2016;
Walchandnagar Industries, “Overview”, Website Walchandnagar Industries (www.walchand.com/about-us/company-profile/overview/, viewed June 2016.

[ii]      Walchandnagar Industries, “Walchandnagar’s Significant Contribution in the launch of Agni-V”, News release Walchandnagar Industries, 31 January 2015 (www.walchand.com/wp-content/uploads/2015/02/WIL-contribution-in-the-launch-of-Agni-V.pdf);
Shukla, A., “DRDO chief Chander exits with successful launch of Agni-5”, Website Business Standard, 31 January 2015 (www.business-standard.com/article/current-affairs/drdo-chief-chander-exits-with-successful-launch-of-agni-5-115013101091_1.html).

Producers

In some nuclear-armed states – in particular the United States, the United Kingdom and France – private companies are hired by governments to carry out work on maintaining and modernising nuclear arsenals. This report looks at companies that are providing the necessary components to develop, test, maintain and modernise nuclear weapons.The contracts these companies have with nuclear armed countries are for materials and services to keep nuclear weapons in their arsenals. The companies described are substantially involved in the nuclear weapons programmes of the United States, the United Kingdom, France, or India and are themselves based in France, India, Italy, the Netherlands, the United Kingdom and the United States.

In other nuclear-armed countries –Russia, China, Pakistan and North Korea – the maintenance and modernization of nuclear forces is carried out primarily or exclusively by government agencies.

Methodology

The nuclear weapon producers identified were selected on the basis of a predetermined set of criteria.
– Information on investments is publicly available.
– The company is directly involved in the development, testing, production, maintenance or trade of nuclear weapons related technology, parts, products or services.
– The company’s involvement is related to warheads, or to delivery systems such as missiles, that are specifically developed for nuclear tasks. This includes technology that is designed for ‘dual use’ (military and civilian) but excludes technology that is not designed for, but can be used in nuclear warfare. It does not include delivery platforms such as bombers and submarines.

State owned or controlled nuclear industries are outside the scope of this research, as are companies not publicly listed. Our research uncovered a number of Universities involved in nuclear weapons programmes, but these are also outside the scope of the report.

The list of nuclear weapon producers investigated was compiled through a wide variety of sources, including financial institution exclusion lists, civil society reports, media reports, etc. Additional details on the contracts and components can be found in the Annex. We welcome information at any time about possible nuclear weapons producing companies to investigate.