Incorporated in Jan.'89, ITL Industries (formerly Indore Tools) was incorporated 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._x000D_ _x000D_ In 1993, the company undertook an expansion-cum-diversification programme. It expanded 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._x000D_ _x000D_ In 1994-95, the company diversified into agro products field and launched its potato french fries under the McDon brand name in the western region of the country. In Mar.'96, the company entered into a technical collaboration with a buy-back arrangement with Keuro Machinenbau GmbH & Co, Germany._x000D_ _x000D_ 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._x000D_