Hikal was incorporated in 1988, with equity participation of Hiremaths, Kalyani Group, and subsequently Sumitomo Corporation of Japan. The manufacturing activities started at Mahad in 1991, at Taloja in 1998 and at Panoli in 2000.
The company has expanded facilities of its existing products--MCA, PC, MNCB, etc, and diversified into the production of metoxuron technical, a wheat herbicide, which is being manufactured for the first time in the country. Sumitomo Corporation, Japan, which earlier marketed Hikal's products, acquired an equity stake in the company to source intermediates on a toll-manufacturing basis to be marketed through Sumitomo's worldwide marketing network.
During 1996, company came with public issue to part finance the expansion project of Thiabendazol. The Company has been accorded Export House status by the Government of India. The Company set up a new manufacturing facility near Mumbai in collaboration with Merck & Co Inc, USA, for the manufacture of a post-harvest fungicide.
A 100% EOU unit for the manufacture of Thiabendazole at Taloja has been sucessfully commissioned & quality matches Merck & Co, Inc. USA standard and is now being sold all over the world. The Company also received the prestigious '5 star Safety Award' from British Safety Council' UK for high standards maintained at the Taloja Site.
During 1999-2000, the company has acquired an Agrochemical manufacturing site at Panoli, Gujarat from Novartis India Limited. The Company's status as an Export House has been elevated to that of a Trading House.In 2001, The Company acquired the R&D Unit and Bulk Drug Manufacturing Facility of Wintac Ltd at Bangalore in Karnataka. In 2004, the company commissioned a new bulk Active Pharmaceutical Plant with cGMP requirements in Bangalore Unit. The Bangalore API Plant approved by USFDA and Australian TGA. During 2004-05, A 100% EOU plant for pharamaceutical intermediates is being set up. This unit is expected to be operational in the first half of the coming year.
During 2004-05, the company is establishing a state-of-the-art R&D facility in Pune and this research facility is expected to be operational in early 2006.
In Aug. 2004, the company has entered into an agreement with Bayer CropScience AG to manufacture and supply Agro biochemical intermediates and has set up a plant to manufacture this products in Mahad Plant. In 2005, the company made an agreement with Crompton Corporation, USA to manufacture and market a New Generation Crop protection product. In Nov. 2005, the company entered into a JV agreement with a subsidiary company of Sinochem Corporation, China.
During 2005-2006, the company made a strategic investment in Jiangsu Chemstar Industries Co (a subsidiary company of Sinochem Corporation China 'A Fortune 500 company). The company acquired 10% stake in the year.
The companies production capacity of Crop protection products and Pharmaceutical products stood at 4436 MTn and 180 MT respectively.