Mitshi India Ltd Share Price

History of Mitshi India Ltd

Mitshi India Limited (formerly known as Dera Paints and Chemicals Ltd) was incorporated on July 23, 1990. The name of the Company was changed from Dera Paints and Chemicals Limited to Mitshi India Limited in February, 2016. Till then, the Company was in the field of manufacturing automotive, industrial and decorative paints, thinners & synthetic resins with trading of industrial solvents and other raw materials to concern and allied industry. In 1998, after the journey producing phenomenal growth in the past 24 years, due to a stroke of unforeseen circumstances, the Company took a huge hit. Being a high explosive paint plant at the mother factory Vasai, caught a fire due to an accident and gutted the entire factory. The fire had huge impact on working conditions of the Chiplun Plant. T ...he Company faced lot of challenges and due to short fall of capital, the Company could not recommence manufacturing activity to cater to prestigious clients like Mahindra & Mahindra Ltd, Castrol Ltd, and many other prestigious industries and dealers throughout the country. The Company is in primarily in the business of trading of commodities. The Promoter 'Kumar V. Shah' with his diligent work wanted to repay all the debts in order to maintain his reputation. In 2012, after coming out from numerous challenges, the promoter 'Kumar V. Shah' managed to repay almost all debts of the Company and had settled all major liabilities. After which, he started working on revised plans for future of the Company since times had changed and restarting a paints manufacturing factory was not feasible. Since 2014, the Company was relisted in Bombay Stock Exchange' Ltd. in June, 2014 and renamed as 'Mitshi India Limited'. In 2015, the Company brought in a preferential equity of Rs 184 lac to meet the part / balance creditor's payments and to fund the above expenses of the initial revised plan. In FY 16, the company started various business activities such as, software developments, flardware & computers connected various products, logistics business, gold, silver, platinum, diamond, jewellery, papers and byproducts of papers, general merchandise (online or offline e-commerce business) and scrap business. In April 2018, the Company commercially launched Taaza Kitchen Brand for online sales of fruits and vegetables to supply to super market and household customers. The online solution of e-commerce platform developed by in-house software division 'Mitshi Softwares'. The Company in 2022-23 started to earn from the major activity of trading in fruits and vegetables and some software business.