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Here are the 10 oldest companies in India that are still going strong - The Economic Times
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Herearethe10oldestcompaniesin
Indiathatarestillgoingstrong
PostaComment
ByShaileshMenon,ETBureau|Sep01,2016,11.07AMIST
READMOREONShalimarPaints|OtisElevatorCompany|KamarhattyCompanyLtd|BombayDyeingCompany|
AlembicPharmaceuticals
Like
Thelifeexpectancyrateofcompaniesis
shrinkingrapidlyworldover.Accordingto
leadershipguruStevenDenning,thelife
expectancyrateofFortune500companies
hasreducedfromaround75yearsinthe
1950stolessthan15yearsnow.Defying
thisaverage,alistofIndiancompanies
havebeeninexistenceforover100years
andseveralofthemarestillgoing
strong.
BOMBAYDYEINGCOMPANY:New
knotsinbusiness
YearofInception1879Headquarters
MumbaiPromotersPublicshareholders
andNusliWadiaFamily
SomeIndiancompanieshavebeenexistenceformorethana
BombayDyeingCompanyturnedtotextile
onlyafteritstartedsufferinghugelossesin
SPOTLIGHT
Seasonofsale
itsdyeingbusinessintheearly1900s.This
wasaroundthetimewhenIndiancloth
merchantsstoppedimportingclothfrom
Chinesemanufacturers.
BombayHouseaftermath
centurywithsomeofthemstillgoingstrong.
RELATEDCOMPANIES
ShalimarP
AlembicP
EXPAND
3.35(1.68%)
5.30(0.79%)
"Itcanthereforebesurmised,BombayDyeing
flourishedalongwiththedomestictextileindustryinBombay,"sayscorporatehistorian
RamanMahadevan.
Thecompanyhasmanagedtostayafloatover100years,despitecompetition,cutthroat
pricewarsandemergenceoflowcostupcountrymanufacturingcentresacrossthe
country.
CrackerofaDiwalisalefor
Amazonwith3Xsales
DuelofdikrashasproudParsi
"Thecompany'sabilitytoinnovateandmodernisecontinuouslyhashelpeditsurvive
communityworried
long,"RamanMahadevanadds.
Amazon'smainIndiaunitreceivedcapital
Whilebusinessspatsarenotuncommonin
infusionofRs7,463crorein201516,up
Mumbai,allegationsofmalfeasanceandthe
However,BombayDyeinghasnotbeenagreatperformerintermsofcorporateearnings
fromRs1,888croreinthepreviousfinancial roleoftwobillionaireParsishasnotgone
year.
Giftcardsahit,festivesalestotop10
million:Survey
overthepastfewyears.Thecompany'sprofitmarginshaveshrunksignificantlysince
downwellwiththecommunity.
201314.Inthelastfinancialyear,BombayDyeingsufferedalossofRs85.24crore.The
companymanagementblameseconomicsluggishnessasoneofthereasonsforthepoor
http://economictimes.indiatimes.com/news/company/corporate-trends/here-are-the-10-oldest-companies-in-india-that-are-still-going-strong/articleshow/5395379
1/7
02/11/2016
Here are the 10 oldest companies in India that are still going strong - The Economic Times
AtAmazon,thisfestivesaleseasonis
aboutworkandlearn
show.
BombayDyeing'srealestateverticalBombayRealtyhashadproblemssecuring
clearancesforitsresidentialprojects.Thetextiledivisionisfacingheadwindsfrom
cheapersubstitutesmanufacturedbytheunorganisedsector.BombayDyeing'spolyester
divisionwasdoggedbyfallingcrudepricesandtheresultantdropinpolyesterprices.
Inthenearfuture,thecompanyintendstooutsourcetextilemanufacturingtoreducecost.
Strengtheningofthe'BombayDyeing'brandisalsoonthecards.
SHALIMARPAINTS:Comingsoon,afreshcoat
YearofInception1902HeadquartersGurgaonPromotersPublicshareholdersand
Jindalfamily
ShalimarisbilledastheoldestpaintcompanyinSouthAsia.Aclutchofgovernment
agenciessuchasCentralPublicWorksDepartment,NTPC,IndianRailways,BPCLand
IOCfeatureinitslonglistofloyalclients.
"Wehaveseveralinstitutionalclientswhohavestayedwithusformorethanthree
Most
Read
Most
Shared
Most
Commented
generations,"saysSurenderBhatia,CEOofShalimarPaints."Arobustproductrange
andastrongnetworkofdealersandcustomershavehelpedusperformwellallthese
years,"headds.
BeforeyouemailyourCVtorunIndiasTata
Group,readthis
CyrusMistryandTatassparoverDoCoMocase,
MistrysaysRatanTatawasalwayskeptinloop
USwarnscitizensofincreasedISISthreatat
popularspotsinIndia
RatanTatatoformnewgroupmanagement
structurewithindays
CyrusMistryRatanTatafeudshocksaproudParsi
community
More
NottobeMissed
MiGandotherfirmspaid
millionstoCBI,EDsuspect
SudhirChoudhriesson,cousin
Thecompanyhasmaderapidstridesintherecentpast,movingfromubiquitous
distemperstoemulsionpaints,waterbasedcolours,weatherproofpaintsandnewage
decorativecolours.TodayShalimarboastsofgiving55,000colouroptionstoitsclients.
ThecompanyrecordedprofitofRs5.2croreonasalesturnoverofRs403crorelast
fiscal.
"Consumertastechangesevery45years.Wetrytokeeppacewithchangingtastes.The
companyisalsogettingrebrandedaswespeak.TheideaistomakeShalimaramodern
company,"saysBhatia.
THEBOMBAYBURMAHTRADINGCORPORATION:Goodgoing,touchwood
YearofInception1863HeadquartersMumbaiPromoterPublicshareholdersandNusli
WadiaFamily
Wannabetonconsumption?
Multiplexscripsmightwork
betterforyouthanpopcorn
stocks
BombayBurmahTradingCorporation(BBTC)wasestablishedin1863byWallace&
10mustseepicsofMuhurat
TradingatBSE
AccordingtoRamanMahadevan,aBengalurubasedbusinesshistorian,Wallace
brotherssetuptheirbusinessinIndiawiththehelpofaParsientrepreneurFramjee
Company,afirmcontrolledbyaScottishfamilyofsixbrothersbasedinLondon.
NusserwanjeePatel.ThecompanyventuredintoRangoonsubsequently,sightinggood
businessprospects.ItleasedoutlargetractsofforestlandinBurmaandemergedabig
teakexporter.
"TheassumptionthattheWadiashadassumedcontroloverBBTCasearlyas1913
seemstobemisplaced.Evenaslateasthe1940s,themanagingagentsandsecretaries
ofBBTC,aslistedontheBombayStockExchange,isthatofWallace&Co,"Mahadevan
adds.
This'Cyrus'hasaspecialreasonforlikingRatan
Tata
Advert:TheBadarpurPlant's
effectonAirPollutionandwhy
itneedstobeshutdown
Intheearly1900s,BBTCdiversifiedtorawcotton,textilesandoilaswell.TheWadias
seemtohavepickedsharesofthecompanypost1930andtighteneditsgriponthe
companyonlyinthepostIndependenceera.
BBTCiscurrentlyengagedinplantations(teaandcoffee),autoelectriccomponents,
healthcare,realestateandweighingproductsbusinesses.Thecompanyrecordedaloss
http://economictimes.indiatimes.com/news/company/corporate-trends/here-are-the-10-oldest-companies-in-india-that-are-still-going-strong/articleshow/5395379
2/7
02/11/2016
Here are the 10 oldest companies in India that are still going strong - The Economic Times
Howtohackyourbrainsoit
canrememberanything
ofRs33.15croreinthelastfinancialyear.
Adverseweatherconditionsandincreaseinwageserodedearningsinthecompany'stea
WhyyouneedtoleaveDelhi
rightnow
business.Slowdownintheautoindustryandrealestateverticalsalsohitthebottomline
lastyear.Thecompanyhasstartedtakingmeasurestoimproveitsearnings.Ithas
startedreplantingteabushestoimproveyieldBBTCalsointendstolauncharetailbrand
ofspecialteainIndia.
BBTCisalsolookingtounlockinitslandparcelvalueoverthenextfewyears.Theauto
partsandhealthcaredivisionstoohaveplanstoexpandtheirproductsandservice
offerings.
OTISELEVATORCOMPANY:Stillridinghigh
InIndiasince1892HeadquartersMumbaiPromoterUnitedTechnologiesCorp
Slowcashier,whosevideowentviral,hadonce
survivedaparalysisstroke
LaunchyourDigitalMarketing
CareerwithColumbia
BusinessSchoolsDigital
MarketingProgram
Aboutthistimenextyear,Otiswouldhaveinstalleditsfastestelevatorinthecountry,
ferryingpassengers2.5metreseverysecondorabout500feetperminute.This,in
itself,isnotabigachievementbecauseOtishassetupspeedierliftselsewhereinthe
world.Thecompany'selevatorsinBurjKhalifatheworld'stallestskyscraperhurtlefrom
groundlevelto124thfloorin59secondsat10metrespersecond.
"Upto80percentofelevatorsinstalledinIndiamoveatspeedslesserthan1metreper
second.Thishastoimprove,withoutcompromisingonsafetyofpassengerortheir
Gainers
ParasPetrofilsLtd.
0.25
Dieselgettingabadname:
Luxeautocosintroducepetrol
variantsofexistingmodels
comfort,"saysSebiJoseph,managingdirectorofOtisElevatorCompany."Wewantto
makesmarterelevatorsthatwillmeettherisingaspirationsofourcustomers."
Otisstartedactualproductionsomesixdecadesago.Thecompanyhasamanufacturing
plantinBengaluru,whichproduces10,000unitseveryyear.Otishas2,600employeesin
India.
"Ourorderbookisgrowing20percenteveryyear.We'veinvestedheavilyintechnology
andresearch.Ourstrategyistomakequalityelevatorsavailableatallpricepoints,"says
Joseph.
ALEMBICPHARMACEUTICALS:Sweetpilltoswallow
CyrusMistryandTatassparoverDoCoMocase,
MistrysaysRatanTatawasalwayskeptinloop
Advert:JoinusinCXORound
TableSeriesonProject
Management
YearofInception1907HQVadodaraPromotersPubliclyshareholdersandChirayu
Aminfamily
Alembic'sfactory,inthemid1930s,wassotechnologicallyadvancedthatitmanufactured
itsowninternalcombustionenginerunningon'poweralcohol'aproductthatmixed
alcoholwithpetrolina4:1ratiotoincreaseengineperformanceandefficiency,while
reducingpollutionatthesametime.
CelebratingTipuJayantiislike
celebratingAurangzeb's
anniversary:MohandasPai
SaniaManjrekartweetfeud:
KapilDev,Bhupathiweighin
Later,inthe1940s,whenpublicsentimentturnedagainstalcoholinGujarat,Alembic
movedontomakingcoughsyrups,vitamins,tonicsandantibioticdrugs.
"We'vefacedchallengeseverydecade,butstrongfundamentalshavehelpedussail
through.We'venevertakenshortcutsinbusiness,"saysPranavAmin,managingdirector
ofAlembic.
"Ourstrongpointisthatwerespecttechnologyalot.Wenevereverbackedoutof
investingintechnology,"Aminadded.
AlembicPharmaceuticalsreportedprofitsofRs698crorelastfiscal.Thecompany's
internationalgenericsverticalreported75percentYoYgrowth,drivenbystrongtraction
intheUS.
ElonMuskwantstosellsolarrooftileaswell
TheUSgenericbusinessislikelytodriveinternationalbusinessoverthenexttwoyears
http://economictimes.indiatimes.com/news/company/corporate-trends/here-are-the-10-oldest-companies-in-india-that-are-still-going-strong/articleshow/5395379
3/7
02/11/2016
Here are the 10 oldest companies in India that are still going strong - The Economic Times
Advert:BRICSandthenew
emergingeconomicorder
onthebackof1314productlaunches,accordingtoanHDFCSecuritiesstockreport.
"Theworldhasbecomeaverydynamicplace.Companieshavetobenimblefooted.We
havetokeepreinventingeveryday,"Aminsumsup.
PostDiwali,here'showto
undoallthedamagedoneto
yourskin
BeforeyouemailyourCVto
runIndiasTataGroup,read
this
PARRY&CO(NOWEIDPARRYLTD):Sweetbusiness
YearofInception1839HeadquartersChennaiPromotersPublicshareholdersand
MurugappaGroup
Likeallfreetraders,thelureofcommoditiesbroughtThomasParry,anEnglishtrader,to
India.Parry&Costartedoffasageneraltradingcompanydealinginsugarandspirits.
"Bythelate19thcentury,thecompanyhademergedasoneofthelargesttradersof
sugarwithafirmgripoverSouthIndianmarket.Parry&Cowassostrongthenthatit
floatedtwoseparatecompaniesEastIndiaDistilleriesandSugarFactoriesLtd,"says
businesshistorianRamanMahadevan.
In1962,Parry&ComergedthetwocompaniestobecomeEIDParry.TheMurugappa
groupacquiredcontroloverEIDParryin1981.
MiGandotherfirmspaidmillionstoCBI,ED
suspectSudhirChoudhuriesson,cousin
Advert:Strengtheningtrade,
investmentandfinancialsector
cooperationamongstBRICS
countries
Poll
Doyouthinkbuilderswillraisehomepricesto
offsetlossesfromthenewrealtybill?
Yes
EIDParryreportedprofitsofRs25.34croreinthefirstquarterofthisfiscalcomparedwith
thecorrespondingquarterlossofRs138croreinthepreviousyear.Thestandalonesugar
businessofthecompanyloggedaPBIT(profitbeforeinterestandtax)ofRs56crore.
Thebioproductsdivision(comprisingpesticidesandnutraceuticals)registeredaPBITof
Rs4crore.
"Thecompany'sperformancewassatisfactory,largelyduetobetterpricerealisationon
sugar.Goingbythecurrenttrendinprices,thesugarscenariofortheyearremains
positive,"statedEIDParrymanagingdirectorVRameshinapostresultsmediarelease.
No
Can'tsay
EIDParry,alongwithitsunits,hasninesugarfactorieshavingacapacitytocrush39,000
tonnesofcaneaday,generate160MWofpowerandfourdistillerieshavingacapacity
VOTE
230kilolitresaday.
10iconicmobilephonesfrom
thepast
KAMARHATTYCOMPANYLTD:Recastinabrandnewpackage
YearofInception1887SectorJuteHeadquartersKolkataPromoterBPAgarwal
ThefortunesofKamarhattyCompanyhitadownwardspiralintheearly1980s,when
plasticbecamemoreacceptedinthepackagingindustry.Labourunrest,lowerdemand
forjuteandrisingcostofproductioncrippledthecompanyevenfurtherinthesubsequent
years.Thiswasaroundthetimewhenmostjutecompaniesdownedtheirshuttersacross
India.
CrackerofafestivesaleforAmazonwith3Xsales
Advert:Chasingtrends?May
notbeagoodidea
ShortlyaftertheAgarwalssteppedin,thecompany'slossesmountedanditslippedinto
BIFR(BoardforIndustrialandFinancialReconstruction)andremainedthereforabout
10years,until2001.
"We'restillinrestructuringphase.Ittookusalongtimetoturnaround,"saysSKAgarwal,
managingdirectorofKamarhattyCompany.
AfterSupremeCourtrap,
governmentappoints10
judges
Inthelastfinancialyear,KamarhattyrecordedprofitsofRs1.5crore.Thecompanyhas
alsodiversifiedintonewerproductsegmentslikenonwovenjuteandlinenyarns."We'll
surviveformanyyears,we'vegotexpansionplans,"assuresAgarwal.
ThisIsTheMostAddicting
GameOfTheYear
Kamarhattyisamongthefewjutecompaniesthatareusingtechnologytoreducelabour
SponsoredbyPirates:FreeOnlineGame
andincreaseproductionefficiency.Thecompanymanufacturescloseto30,000tonnesof
juteeveryyearusingalmost75percentofitsinstalledcapacity.
http://economictimes.indiatimes.com/news/company/corporate-trends/here-are-the-10-oldest-companies-in-india-that-are-still-going-strong/articleshow/5395379
4/7
02/11/2016
Here are the 10 oldest companies in India that are still going strong - The Economic Times
FromSanjayDutttoBipasha,
BTownstarswhoattended
AmitabhBachchan'sDiwali
party
Kamarhattyhasreduceditsheadcountfromover6,000afewyearsagotoabout5,000
now.Itintendstoroundofftotalworkforcetoabout2,500inthreeyears.
"Demandforjuteisslowlypickingup.Severalcountrieshavebannedplasticcompletely.
Thesemarketsshouldgiveusgoodbusinessinfuture,"Agarwaladds.Kamarhattyfaces
stiffcompetitionfromBangladeshbasedjutemills,whichselltheirwares3040percent
cheaperthanIndiancompanies.
TEESTAVALLEYTEACOMPANY:Hotandsteaming
YearofInception1841HQKolkataPromoterBharatBajoria
Novemberbelongedtobearsinlast10yearswillit
bedifferentin2016?
Builderwillpayyou10.9%
interestifhedelaysdeliveryof
yournewhome
Kaamjaari,thetraditionalwayofdistributingworkamonggardenemployees,isstill
practisedatTeestaValleyteagardens.Everyevening,aftertheday'swork,garden
supervisorsarehandedoutchoreswhichworkershavetocompletethenextday.
When900workerscomeforworkthenextdayat7.30amtheyarefairlywellaware
ofthetasksathand.The850hectareteaestateisdividedintoseveralsectionsare
mannedbyapoolofsupervisors,whosejobistowalkaroundandinspectthework.
5tricksthatwillhelpyouacea
jobinterview
Fifteenminutesafter4pm,whenworkersfileoutfortheirhomes,supervisorswalkback
totheestateofficetogettheirnextday'smandate.The175yearoldcompanyexports
specialteastoJapan,GermanyandtheUK,amongotherdevelopedmarkets.
Advert:Canyouinvestlikea
marathoner?
"Disciplineisthekeytosuccessofanyteagarden.WestillfollowoldBritishtraditions,"
saysRKDixit,whohasspent60yearsmanagingteagardensacrosstheNorthEast,and
isontheboardofTeestaValleyTeaCompany.
UNICEF:2bnkidsbreathetoxicairworldwide,1/3
fromnorthernIndia
Investigatingfraudulent
transactionsofRs22crore:
AirAsia
Crackerofafestivesalefor
Amazonwith3Xsales
Despitetheregimentedworkmethod,thecompanyranintoroughweatherpost
Independence,whendemand(fortea)andpricesdeclinedglobally.Weatheralsoplayed
havoconthecropin1950,1953and1955.Inthemid60sand70s,thecompanyfaced
problemsfromtradeunions.
"Thelastthreeyearshavebeenbadformostteacompanies.Globalteapriceshave
fallen1015percentandthecostofproductionissteadilygoingup,"Dixitsays.
Butheissanguine."Thiscompanywillliveonformanyyears.We'vealreadycommenced
uprootingoldteabushesandreplacingthemwithnewones.Newbusheswillmaturefor
pluckingin8yearsandwillyieldforthenext4050years,"Dixitadds.
DoesPMNarendraModithink
peopleofUPtobefools,asks
Mayawati
AMLUCKIEINVESTMENTCOMPANY:Luckbystance
YearofInception1876HeadquartersKolkataSectorStocktrading,NBFCoperations
PromotersAgroupofindividuals
ThepreviousmanagementofAmluckiesoldtheirteagardensinthelate1960swhen
businessbecametoughfortheindustry.Thenexttwodecadeswereprettystaidfor
Amluckie.Whenthecurrentmanagementtookoverreinsofthecompanyinmid90s,it
justhadacapitalbaseofRs20lakhandafunctionalnonbankingfinancecompany
(NBFC)licence.
Now,'SharkTank'staraccusesTrumpofbody
shamingher
"Evenbrandrecallwasnotthereasthecompanyhadexiteditsteabusinesslongago,"
saysSantoshJain,CFOofAmluckieInvestmentCompany.
Thecompany,ownedbyagroupofindividuals,doesproprietarystocktradingandSME
lendingthesedays.AmluckiehasaloanbookofRs10crore.
"We'reprofitableinasmallway.Wehaveexpansionplanstogrowourbusiness.We're
activelyconsideringventuringintomicrofinanceandassetreconstructionbusinesses,"
addsJain.
http://economictimes.indiatimes.com/news/company/corporate-trends/here-are-the-10-oldest-companies-in-india-that-are-still-going-strong/articleshow/5395379
5/7
02/11/2016
Here are the 10 oldest companies in India that are still going strong - The Economic Times
JointStockIndianBanks:Stresshitshome,finally
PromotersPublicshareholdersandIndiaGovernment
BanksAllahabadBank,PunjabNationalBank,BankofIndia,CorporationBank,Canara
Bank,IndianBank,BankofBaroda,Punjab&SindBank,CentralBankandStateBankof
Mysore.
ThePresidencybanks,namelyBankofBengal,BankofMadrasandBankofBombay,
wereestablishedbytheEastIndiaCompanymorethanacenturyagowithaviewto
manageitsfinancesinthecountryandalsolendmoneytotheIndianmercantileclass.
However,thesebanks(managedbytheBrits)werenotcomfortablelendingmoneyto
Indianbusinessmen,mainlybecausetheyfounditdifficulttounderstandthe'HUFway'
(HinduUndividedFamily)ofdoingbusiness.Theyfailedtoevengraspthe'chopda'
systemofbookkeeping,prevalentamongtraditionalIndianbusinessfamiliesthen.
AmongthethreePresidencybanks,BankofBombaywasmoreliberalintermsofoffering
loanstoIndians,albeitathighercouponrates.
ThisresultedinthesettingupofbankslikeAllahabadBank(1865)andPunjabNational
Bank(1895),withmanyinfluentialIndiansofthosetimesontheboard.AllahabadBankis
theoldestpublicsectorbankinIndiawhilePunjabNationalBankisthefirstbanktobe
purelymanagedbyIndians.FreedomfighterLalaLajpatRaiwasactivelyassociatedwith
thecreationofPunjabNationalBank.
TheformationofRBIin1935andthepromulgationoftheBankingRegulationAct1949
andamendmenttotheActin1965helpedthesebankstooperateinaregulated
environment.
"Thesebankssurvivedlongmainlybecauseofnationalisationin1969.Thegovernment
inducedcapitalandalsogavebusinesstothesebankstostayafloat,"explainsveteran
politicaleconomistandauthorAmiyaKumarBagchi.
"Thegovernmentforcedthesebankstospreadouttoruralareas,whichstrengthened
theirrootsfirmly.TheGreenRevolutionhelpedthesebankstogrowtheirbusiness
portfoliossignificantly"Bagchiadds.
Someofthesebanksarefacingseverestressofbadloans(NPAs)currently.
StayontopofbusinessnewswithTheEconomicTimesApp.DownloaditNow!
Recommend 132 people recommend this. Be the rst of your
friends.
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Here are the 10 oldest companies in India that are still going strong - The Economic Times
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