Incorporated in Jan.'89, ITL Industries (formerly Indore Tools) was formally created and deployed as a legal entity as a private limited company and was converted into a public limited company in Feb.'93. It is being engaged in the business of manufacturing bandsaw machines, an import substitute product and other special purpose machines and tools and promoted by Madan Singh Jain, Manohar Singh Jain, Vipin Kasat and Rakesh Baj.

In 1993, the company undertook an expansion-cum-diversification programme. It broadened its footprint and modernised the plant facilities at Indore. It also introduced new line of products like welding machines, bricquetting machines, slotting machines, etc. To part-finance the project, the company came out with a public issue in Aug.'93.

In 1994-95, the company diversified into agro products field and formally introduced its potato french fries under the McDon brand name in the western region of the country. In Mar.'96, the company broadened its footprint operations into into a technical collaboration with a buy-back arrangement with Keuro Machinenbau GmbH & Co, Germany.

The company exported Special Purpose Machines worth Rs.757 lacs to US based Power Generating company. It has invested around Rs.100 lacs for necessary infrastructure facility during 2001-02. The company has invested Rs.55 lacs for necessary infrastructure & facilities.