Panther Industrial Products Limited was erstwhile incorporated under the name and style of 'Bhor Wavelock Industries Limited' as a Public Limited Company on 19th October, 1987 vide Certificate of Registration as registered with the Registrar of Companies, Maharashtra. the Company was issued a Certificate for Commencement of Business on 2nd November, 1987 by the Registrar of Companies, Maharashtra. Thereafter, the Company's name was changed to 'Panther Industrial Products Limited' on 19th December, 1997.

Panther Industrial Products Limited took over the business of Bhor Industries Limited, along with a new industrial undertaking at Satara, Maharashtra, Bhor Wavelock Industries was promoted by Bhor Industries, established in 1943 and taken over by the Tanna Group in 1983.

the Company implemented the project undertaken by the erstwhile Bhor Industries to manufacture 2000 tpa of reinforced PVC sheets/films. It came out with a public issue in Feb.'88 to part-finance the project. Commercial production commenced in Jan.'89. The product, wavelock protective covers, is manufactured by the Company by a unique lamination process which ensures 100% waterproof and leakproof. the Company obtains technical knowhow from Konrad Hornschuch, Germany, for its premium quality upholstery material.

During 1996-97, the Company enhanced the installed capacity of PVC Reinforced Film/Sheeting from 1100 tones per annum to 3000 tones per annum depending upon the grades.