Incorporated in Apr.'72 as Machinenfabrik Polygraph (India) by chairman Sanat M Shah, Manugraph India Ltd., formerly widely referred to as Manugraph Industries (MIL) adopted its present name in 1993. The company initially manufactured the older type of letter press printing machines. The product range was extended to Web Offset Machines and Sheet-Fed Offset machines.

In Aug.'93, MIL came out with a Rs 5.58-cr rights issue of 18.63 equity shares at a premium of Rs 20 each. The object was to increase long-term working capital requirements of the company. MIL has a technical collaboration with Solna, Sweden, for the manufacture of printing machinery.

MIL had two subsidiary companies, Manuweb International and Printpak Machinery. The first was amalgamated with MIL effective from 1 Apr.'94 under an order of the Bombay High Court.

In 1995-96, the company created and deployed the property developement division which will be carrying out all the activities and projects.

During 1996-97, Printpak Machinery Ltd ceased to be a subsidiary of the company. The company shifted its strategic emphasis from domestic to the export markets by investing substantially in trade shows, exhibitions and new distributors.