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Company History
1953
- Government of India, ICI Ltd. U.K., I.C.I. (India) Pvt. Ltd. signed Declaration of Intention to form company for explosives, fuses.
1954
- Incorporated as public limited company in West Bengal; obtained commencement of business certificate August 19.
1955
- Executed technical collaboration with ICI Ltd. U.K. for consultancy and technical information.
1959
- ICI Ltd. U.K. held 2,400,000 shares; President of India held 600,000 shares.
1965
- Issued 430,000 shares at Rs. 12 premium to directors, employees, public.
- Issued 1,372,000 bonus shares 2:5.
- Offered 1,373,000 shares to public.
1967
- Issued 1,680,000 'A' series equity shares at par to ICI U.K., IFCW, President of India, members, public; pari passu from October 1, 1970.
1975
- Received industrial licence for 1,000 tpa nitrocellulose.
1978
- Received industrial licence; signed collaborations with ICI U.K., Benfield U.S.A., Toyo Japan.
- Issued 7,160,667 bonus shares 1:3; 341,000 rights shares at Rs. 5 premium.
- Commissioned 1,000 tpa nitrocellulose plant.
1979
- Offered 500,000 redeemable partially convertible debentures of Rs. 500 each as rights 1:58.
1980
- Received letter of intent for 100 tpa primary reforming catalyst at Panki with ICI PLC.
- Received letters of intent for 100 tpa permethrin/cypermethrin and methyl chlorosilanes.
1982
- Amalgamated ACCI, CAFI, CDC; issued 31,000 11% preference shares and 8,918,121 equity shares to their members.
- Converted debentures to 2,968,824 equity shares at premium.
1983
- Issued Rs. 1,500 lakhs 15% non-convertible debentures as rights.
- Commissioned Panki boilers in April/May; commenced steam generation.
1984
- Commissioned Panki turbo generator on July 16.
- Commissioned Panki primary reformer catalyst in September.
- Received letter of intent for 3 tpa quinapyramine salts.
- Received licences for Rishra paint expansion and quinapyramine salts.
- Changed name to IEL Ltd.
1985
- Received modified letter of intent for new drugs and membrane cells.
- Applied for 450 tpd ammonia-urea expansion at Panki.
1986
- Converted letter of intent to licence for polyester staple expansion to 30,000 tpa.
- Redeemed preference shares on July 31.
1987
- Added Maxilite gloss, emulsion, masonry paints.
- Set up Dulux colour centres.
1989
- Introduced coil coating paint.
- Approved foreign collaboration for Accinox ZC rubber chemical.
- Applied for letter of intent for methyl methacrylate and polymers.
- Approved lambdacyhalothrin production.
- Approved FM-21 membrane cells and electrode coating.
- Changed name to ICI India Ltd. effective May 25.
1990
- Received MRTP approval for hybrid seeds for cereals and oilseeds.
1991
- Commissioned Accinox Zc antiozonant plant at Rishra.
- Received letter of intent for methane diphenyl di-isocyanate.
1992
- Introduced Poweran series bulk products.
- Launched new decorative and refinish paints.
- Launched hybrid sunflower and maize seeds.
- Entered MOU with Nalco U.S.A. for speciality chemicals JV.
- Applied for letter of intent for 12,000 tpa speciality chemicals at Rishra.
1993
- Introduced Dulux, Maxilite, Cobra decorative paint brands.
- Introduced Tenoclor cardiovascular combination in 1994-95.
1995
- Transferred agrochemicals to JV with Zeneca plc U.K.
- Commissioned small diameter emulsion facility at Gomia.
- Launched Weathershield and Duette brands.
1996
- Formed Explosives Systems India Ltd. JV with Ensign Bickford Company USA.
- Commissioned paints plant at Thane in December.
1997
- Launched products: Lignocaine, Buprenorphine, Neostigmine, Maxigard, ICIDIL.
- ICI plc U.K. held 20,776,213 equity shares.
1998
- Planned JV with Herberts Germany for automotive paints in India and Asia Pacific.
- Formed JV with GSFC to market acrylics products.
- Acquired nitrocellulose business of Asha Nitrochem at Valsad Gujarat.
- Planned paint plant commissioning at Chennai.
- Agreed to sell 49% in Zeneca ICI Agrochemicals to Zeneca.
- Agreed to sell 40% in Nalco Chemicals India to Nalco.
- Commissioned 20 million litres p.a. automotive refinish and decorative paint facility at Mohali.
1999
- Explosives Systems India Ltd. to introduce EXEL Handide detonators.
- Agreed to transfer explosives business to Indian Explosives Ltd. JV with Orica (51% company, 49% Orica).
2000
- Embarked on restructuring to focus on specialty products and paints.
- Exited polyurethane business to Huntsman Corporation; formed 50:50 JV with Berger Paints for motor and industrial paints.
2002
- Commissioned study to enter flavours and fragrances business.
- Redesignated R L Jain as Wholetime Director and CEO Paints; M R Rajaram as Wholetime Director and CFO effective April 1.
- Transferred pharmaceuticals business to Nicholas Piramal.
- Suresh Chandra resigned as Director effective July 5.
- Appointed Sudhir Krishna as Director.
2003
- Ashok Ganguly retired as Chairman; Aditya Narayan resigned as MD; appointed Rajiv Jain as MD and CEO.
- Reported 34% net profit growth to Rs. 107.7 crore.
- Agreed to sell 51% stake in Indian Explosives Ltd. to Orica for Rs. 666.4 million.
2004
- Sought shareholder approval to divest Nitrocellulose and Trading businesses.
- Sudhir Krishna ceased as Government nominee Director effective January 21.
- Introduced Supergloss 5-in-1 enamel paint.
- Transferred Nitrocellulose and Trading business to Nitrex Chemicals India Pvt. Ltd.
- Launched Dulux Weathershield Max and Tileshield paints in Kerala.
2006
- Launched Dulux ColourFutures 2006 shade range.
- Launched Inspira super premium paint in Kerala.
2007
- Shifted registered office from Chowringhee Road to Middleton Street, Kolkata effective January 8.
- Appointed Sandeep Batra as Whole-time Director effective April 1.
2008
- Appointed A J Britt as Director effective May 12.
2009
- Appointed Nihal Kaviratne as Additional Director effective March 30.
- Appointed Amit Jain as Managing Director.
2010
- Changed name from ICI (India) Ltd. to Akzo Nobel India Ltd.
2011
- Installed new steam pipeline in joint project with Dutch waste processing company.
- Let's Color film won TED award.
- Completed acquisition of Schramm Holding AG.
2012
- Completed acquisition of Chinese surfactants producer.
- Ranked first in Chemicals supersector on Dow Jones Sustainability World Indexes.
- Won European Responsible Care Award.
- Launched India Analytical Centre at Bangalore.
- Launched campaign for Velvet Touch Pearl Glo in India.
- Launched Dulux Guardian anti-bacterial paint.
2013
- Introduced Weathershield Next Gen exterior emulsion with Puma Technology.
- Entered agreement with ACI Formulations Limited Bangladesh for distribution of decorative paints.
- Greenfield plant at Gwalior commenced commercial production.
- Recommended dividend of Rs. 20 per share plus special dividend of Rs. 60 per share.
2014
- Dulux conferred 'Superbrand' title by Super Brand Council.
- Appointed Jayakumar Krishnaswamy as Managing Director.
- Recommended dividend of Rs. 15 per share.
- Inaugurated new laboratory facility at Thane.
2017
- Announced divestment of Specialty Chemicals Business.
- Board recommended buy-back of shares.
2024
- Commenced PC production at Gwalior.
2025
- Informed exchange about letter of offer from Morgan Stanley India Company Private Limited for open offer to acquire equity shares.
