The company was incorporated on 17 Dec.'58, as Hoechst-Fedco Dyes & Chemicals Pvt Ltd, in technical and financial collaboration with Hoechst. It became a deemed public company on 28 Mar.'61. In Nov.'73, it issued shares to the public and was listed in Bombay. The company got its present name -- Mafatlal Dyes & Chemicals -- in 1984. Hoescht withdrew from the venture in 1988. The company manufactures synthetic resins dispersions at its plant in Bombay. It markets the following products manufactured by Indian Dyestuff Industries and other concerns : dyestuffs, pigments, optical brighteners and chemicals, textile and non-textile auxiliaries. The proceeds of the company's rights issue in 1994-95 were invested in Indian Dyestuff Industries and Mahamaya Investments. During the year 1999-2000, the overall turnover of the company amounts to Rs.59.43 crores as against to Rs.65.93 crores in the previous year and its exports shows an increase from Rs.0.06 crore to Rs.2.38 crores. The company purchased the land where its factory is located which was earlier under tenancy. The company is in processing of introducing certain speciality chemicals in the domestic market and also taking steps to improve the export marketing.