United Heat Transfer Ltd - Stock Valuation and Financial Performance

United Heat Transfer Limited was originally incorporated as United Heat Transfers Private Limited, on January 27, 1995 under the provisions of the Companies Act, 1956 vide Certificate of Incorporation issued by the Registrar of Companies, Mumbai, Maharashtra. The name of the company was subsequently changed to United Heat Transfer Private Limited dated November 13, 2009 vide Certificate from name change issued by the Registrar of Companies, Mumbai, Maharashtra. Subsequently, the company was converted into a public limited company and the name of the company was changed from ‘United Heat Transfer Private Limited’ to ‘United Heat Transfer Limited’ vide Special Resolution dated February 27, 2024. The status of the company was changed to public limited and the fresh certificate of incorporation consequent to conversion was issued on June 12, 2024 by the Registrar of Companies, Mumbai, Maharashtra.

The company is engaged in the manufacture of a range of shell and tube heat exchangers, air cooled heat exchangers, pressure vessels and process flow skids equipment’s which are used as critical equipment’s for petrol and diesel engines, railway engines, maritime engines, cruse and cargo ships, ferries, pleasure boats, marine diesels, mining trucks, megayachts, heavy engines, fishing boats, heavy trucks, freighters, trawlers, heavy haulages, power gen sets, super tankers, off highway engines etc. The company extends its expertise with the growing national and multinational OEM industry for Heat Exchangers, Moisture Separators Pressure Vessels and Process Flow Skids. It manufactures heat transfer equipment’s as per the TEMA (Tubular Exchanger Manufacturers Association) standards, ASME Section VIII Div. 1, Div. 2, (unfired pressure vessels), API 660, 661, NES standards. Its strength lies in the high quality and fine craftsmanship of its products, the engineering expertise of its team and the quest to develop technologically new products is constant.

Business area of the company

The principal activity of the Company includes manufacturing of a range of Shell & Tube Heat Exchangers, Air Cooled Heat Exchangers, Pressure Vessels & Process Flow Skids Equipment’s which are used as critical equipment’s for Petrol & Diesel Engines, Railway Engines ,Maritime Engines, Cruse & Cargo Ships, Ferries, Pleasure Boats, Marine Diesels, Mining Trucks, Mega-Yachts, Heavy Engines, Fishing Boats, Heavy Trucks, Freighters, Trawlers, Heavy Haulages, Power Gen Sets, Super Tankers, Off Highway Engines etc.

Products of the company

• Air Cooled Heat Exchanger / Air Cooled Condenser / CNG Air Coolers
• Shell & Tube Heat Exchanger (Oil Cooler, Inter Cooler, After Cooler)
• Extended Surface Heat Exchangers (Plate Fin Type)
• Process Flow skids/ Custom Made Packages
• Engine Jacket Water Heat Exchanger with Expansion Tank (Header Tank Heat Exchangers)
• Charged Air Coolers (for diesel /petrol engines/Generators)
• Marine Heat Exchanger
• Moisture Separators
• Automatic Backflush Filters
• Pressure vessels

History and milestones

• 1995: Incorporation of the company United Heat Transfers Private Limited. 
• 1995: Established a sprawling 20,000 sq. ft. facility in the prestigious MIDC area of Nashik, providing ample space for manufacturing and operations. 
• 1999: Attained ISO 9000 certification, a testament to its unwavering dedication to quality management systems and customer satisfaction. 
• 2007: Responding to growing demand, underwent a significant factory expansion, relocating to a larger facility spanning 60,000 sq. ft. to accommodate increased production capacity and technological advancements. 
• 2008: Joined the esteemed ranks of the Heat Transfer Research Institute (HTRI) as a member, enhancing its access to cutting-edge research and industry expertise. 
• 2009: Name of the Company changed to United Heat Transfer Private Limited.
• 2010: Achieved the prestigious U Stamp certification, underscoring its commitment to adhering to the highest standards of safety and quality in pressure vessel design and manufacturing.
• 2011: Entered into a strategic partnership by enlisting with Engineers India Limited, further solidifying its presence in the engineering and construction sector. 
• 2014: Celebrated a milestone as its total employee strength surpassed 100, a testament to its continuous growth and commitment to fostering a talented workforce.
• 2020: Embarked on a new phase of expansion with the inauguration of a state-of-the-art manufacturing facility spanning 80,000 sq. ft., situated within a sprawling 13-acre campus. This significant investment underscores its dedication to meeting the evolving needs of its customers while maintaining the highest standards of quality and efficiency.
• 2021: Demonstrated its commitment to environmental sustainability and occupational health and safety by obtaining ISO 14001:2015 and ISO 45001:2018 certifications, reflecting its adherence to stringent environmental management and occupational health and safety standards.
• 2021: Commencement of Commercial Production - Unit 2.
• 2022: Successfully delivered a CU TR certified order, showcasing its compliance with the Customs Union Technical Regulations and its ability to meet the regulatory requirements of the Eurasian Economic Union.
• 2023: Implemented TCS ION ERP, a cutting-edge enterprise resource planning solution, to streamline its business processes and enhance operational efficiency across various departments, marking another milestone in its journey towards digital transformation and technological advancement.
• 2024: Company converted from Private Limited Company to Public Limited Company vide special resolution passed at General Meeting dated February 27,2024. Consequent to which a certificate of Incorporation dated June 12, 2024, was issued by the Registrar of Companies, Maharashtra.