Murablack India (MIL) was incorporated in Apr.'88. It was promoted by J K Malhoutra, S T Shah and associates in technical and financial collaboration with Murachimie, Switzerland. The promoters also have interests in Dynamatic Hydraulics, JUM Holdings, Bombay Forgings, etc. MIL is managed by chairman J K Malhoutra.
In May '92, the company came out with a Rs 11.51-cr public issue of 1.15 cr equity shares. The object of this issue was to part-finance its proposed project to set up an 100% export oriented unit (EOU) to manufacture conductive grade carbon black (CGCB) which is a major product of the company. The total requirement of funds was estimated at Rs 53.03 cr. As mentioned earlier, MIL has a technical collaboration with Murachimie, Switzerland, which holds the worldwide patent for the Mura process used by the company to manufacture CGCB.
The company commenced its rescheduled operations from April,1995 due to delay in arrival of equipment which was required for the Mura process. The total revised cost was Rs.75.02 crores.
The Company has been declared as a Sick Industrial Company by BIFR during the year 1999-2000 and IDBI has been appointed as an operating agency. Also, the company is in the process of withdrawing itself from 100% Export Oriented Unit Scheme and exploit the opportunities available in the domestic market. In July,2003 the company wounded its operations fully.