The Company was incorporated as Punjab United Pesticides & Chemicals Limited. (PUPCL) on 19th November, 1975 as a Joint Venture between PSIDC and Excel Industries Limited with 26% shareholding of PSIDC & 25% shareholding of Excel Industries Limited. Rest was held by Public.

PSIDC disinvested its shareholding in favour of  nominee of Excel Industries Ltd. in 1985. Further in February 2018, Excel Industries Limited has been reclassified from ‘Promoters/ Promoter Group’ to ‘Public Category’.

Now, Shri Shalil Shashikumar Shroff along with his family and relatives collectively as “Shalil Shroff Group” is the only Promoter of the Company.