As we celebrate Independence Day, it’s important to reflect on the legacy of companies established before India gained independence in 1947. These firms have withstood the test of time, evolving into industry leaders that significantly impact our economy and daily lives. Many of us use their products regularly, often unaware of their historical significance.
Beyond their economic contributions, these companies have provided countless livelihoods and exemplify the spirit of entrepreneurship and resilience that defined India’s progress since independence. As we enjoy their offerings, let’s take a moment to acknowledge the enduring influence and heritage of these organizations.
This Independence Day, let’s not only celebrate our freedom but also honor the lasting contributions of these historic firms. Their stories highlight the strength and potential of Indian entrepreneurship, rooted in a rich legacy that continues to inspire future generations.
Here are some renowned Indian-listed firms that were established before 1947:
ITC Ltd
Indian Tobacco Company of India Limited (ITC) was founded in 1910 in Kolkata, India, primarily as a manufacturer of cigarettes and tobacco products. The company was renamed India Tobacco Company Limited in 1970 and later abbreviated to ITC Ltd in 1974. Today, it is simply known as ITC Limited.
Over the decades, ITC has significantly diversified its business interests. The company entered the hospitality sector in 1972, launching its first hotel, and later expanded into various sectors, including Fast-Moving Consumer Goods (FMCG), packaging, agribusiness, and paperboards. Currently, ITC is the largest cigarette manufacturer and seller in the country.
ITC’s FMCG segment is targeting an addressable market of approximately $5 trillion by 2030. The ITC management has announced a commitment to invest approximately ₹3,000 crore annually to expand its manufacturing footprint that including enhancing production capabilities for its FMCG and paperboard businesses.
ITC Ltd shares have gained 20% in the last 6 months and 11% in the last 12 months. On Wednesday, the ITC shares closed at ₹493, up 0.53% from the previous close, with a market capitalization of ₹6,15,957 crores.
Tata Steel Ltd
Tata Steel Limited, formerly known as Tata Iron and Steel Company (TISCO), was founded on August 26, 1907, by Jamsetji Tata and established by Sir Dorabji Tata in Jamshedpur, Jharkhand, India.
As one of the largest steel producers globally, Tata Steel has an annual crude steel capacity of 35 million tonnes and operates in 26 countries, with key operations in India, the Netherlands, and the United Kingdom. The company serves various sectors, including automotive, construction, consumer goods, engineering, packaging, energy, aerospace, and defense.
Tata Steel aims to increase its production capacity to 40 million tonnes per annum by 2030 to meet growing steel demand driven by infrastructure development and urbanization in India.
In the past 6 months, Tata Steel Ltd shares have risen by 3%, and by 23% over the last 12 months. On Wednesday, the shares of Tata Steel closed at ₹146, down 1.80% from the previous close, with a market capitalization of ₹1,81,136 crores.
Asian paints Ltd
Asian Paints Ltd., founded in 1942 by Champaklal Choksey, Chimanlal Choksi, Suryakant Dani, and Arvind Vakil in Mumbai, India, was initially known as the Asian Oil and Paint Company Pvt. Ltd. Focused on surface coatings and latex for rubber tires, it has since evolved into India’s largest paint manufacturer and a leading global player in the paint industry.
The company specializes in manufacturing, selling, and distributing a broad range of paints and coatings for decorative and industrial use. With operations in over 15 countries and 27 manufacturing facilities, Asian Paints serves customers in more than 60 countries. Its product lineup includes decorative paints, industrial coatings, waterproofing solutions, adhesives, sealants, and home décor products such as modular kitchens and bath fittings.
In July 2024, Asian Paints inaugurated a new Mysuru plant with an investment of ₹1,305 crore to double its production capacity to 600,000 KL per year, raising the company’s total annual production capacity to 2,150,000 KL. The expansion has been approved by the Karnataka State Pollution Control Board and will address medium-term needs.
Additionally, the company is expanding its Ankleshwar plant, which is expected to complete this year, and increasing capacity at its Kasna and Khandala plants, which will bring the total production capacity to 2,270,000 KL annually. A new water-based paint facility in Madhya Pradesh, with a 400,000 KL annual capacity, is planned for completion by 2028.
On Wednesday, Asian Paints Ltd. shares closed at ₹3,025 per share, a increase of 0.05% from the previous close, with a market capitalization of ₹2,89,054 crores.
Britannia Industries Ltd
Britannia Industries Ltd., founded in 1892 by British businessmen in Kolkata, India, began as a small biscuit manufacturer and has since evolved into one of India’s leading food companies. Specializing in biscuits, bread, cakes, rusk, and dairy products.
Britannia generates approximately 80% of its revenue from its biscuit segment. The company’s popular brands include Britannia, Tiger, Nutrichoice, and Good Day, and it holds an estimated 33% market share in India’s organized biscuit market. Britannia also offers dairy products such as cheese, milk, and yogurt.
In recent performance, Britannia Industries Ltd. shares have risen by 13% over the past 6 months and 25% over the past 12 months. On Wednesday, the shares closed at ₹5,677, up 0.01% from the previous close, with a market capitalization of ₹1,35,945 crores.
EID Parry (India) Ltd
EID Parry (India) Ltd, founded on July 17, 1788, by Thomas Parry, holds the distinction of being the oldest surviving mercantile name in Chennai, India.
The company is primarily engaged in the manufacture and marketing of sugar and bio-products. With several sugar plants across India, EID Parry is a major player in the sugar industry, contributing around 20% of Tamil Nadu’s sugar production. The sugar division alone accounts for over 65% of its turnover.
In 1981, EID Parry became part of the Murugappa Group, experiencing substantial growth since then. The company now operates in the manufacture of sugar, bio-products, and nutraceuticals, supporting both agricultural and industrial sectors in India.
EID Parry has a distillery capacity of 297 KLPD (kilo litres per day), with plants producing ethanol from molasses and grains. Additionally, it runs six sugar factories with a combined capacity to crush approximately 40,300 tonnes of cane per day.
Over the past six months, EID Parry shares have appreciated by 29%, and by 65% over the last year. On Wednesday, the shares closed at ₹751, a 3.29% decrease from the previous close. The company has a market capitalization of ₹13,558 crores.
Written by Omkar Chitnis
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