>BrownHairedGirl at 19:09, 14 April 2021

2021-04-14T19:09:06Z

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{{Infobox company
| name = Bombay Oil Industries Limited
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| type = [[Holding company]]
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| founded = [[Bombay]], India ({{Start date and age|1947}})
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| hq_location_city = Mumbai, Maharashtra
| hq_location_country = India
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| owners = Mariwala family
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| subsid = [[Marico]] (1.42%)<ref>{{cite web|title=Shareholding Pattern for the quarter ended Dec 31, 2017|url=http://marico.com/investorspdf/Shareholding_Pattern_for_the_quarter_ended_Dec_31,_2017.pdf|website=Marico|accessdate=17 May 2018}}</ref>
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'''Bombay Oil Industries Limited (BOIL)''' is an Indian [[holding company]] based in Mumbai, Maharashtra. Its subsidiaries have interests in consumer goods, agriculture, and chemicals.

==History==
Bombay Oil traces its origins back to 1862, when Kanji Morarji moved from [[Kutch]] to Bombay (now [[Mumbai]]) and established a business trading [[Spice|spices]] and other goods from [[Kerala]]. Morarji recruited his nephew, Vallabhdas Vasanji to join the business in the early 20th century. Morarji and Vasanji began exporting [[Black pepper|pepper]] and [[ginger]] to Europe, and over time, expanded their product line to include [[copra]], [[coconut oil]], and other agricultural commodities. Vasanji had four sons, all of whom joined the family business. The family's expertise in the pepper trade earned them the name "Mariwala" (''mari'' means pepper in [[Gujarati language|Gujarati]]), and Vallabhdas Vasanji subsequently adopted the name Vallabhdas Mariwala.<ref name="Budhiraja">{{cite book|last1=Budhiraja|first1=S. B.|last2=Budhiraja|first2=M. B. Athreya|title=Cases In Strategic Mgmt H/C|date=1 October 2002|publisher=Tata McGraw-Hill Education|isbn=9780074620977|url=https://books.google.com/books?id=-IaKYHY0sogC|accessdate=17 May 2018|language=en}}</ref><ref name="Kozami">{{cite book|last1=Kozami|first1=Azhar|title=Business Policy and Strategic Management,2e|date=1 January 2002|publisher=Tata McGraw-Hill Education|isbn=9780070444706|edition=Second|url=https://books.google.com/books?id=7bbTVYIXstMC|accessdate=17 May 2018|language=en}}</ref>

Mariwala and his four sons founded Bombay Oil Industries Limited (BOIL) in 1947. The company aimed to leverage the family's strength in the commodities trade and combine it with manufactured goods. BOIL established four manufacturing units between 1947 and 1971, three of them in Mumbai. These units included a plant in [[Sewri]] to extract coconut oil from copra, a vegetable oil refinery in [[Mazagaon]], a chemical plant in [[Bhandup]], and a plant to extract spices near [[Kochi]], Kerala.<ref name="Budhiraja"/>

In 1980-81, BOIL split its business into three distinct divisions - consumer products, [[Fatty acid|fatty acids]] and chemicals, and spice extracts.<ref name="Budhiraja"/>

In 1990, BOIL underwent a massive [[restructuring]] exercise splitting the company's businesses into four distinct companies controlled by each of the Mariwala children. The process was intended to avoid any conflict within the family, and also to help BOIL specialize in each business. The consumer products division became [[Marico|Marico Limited]]. Epro Biotechnologies was established to manufacture hybrid seeds. BOIL's spice extracts division was spun off into a firm called Kancor Flavours and Extracts Ltd, in which US-based [[McCormick & Company]] held a 40% stake. BOIL also acquired [[Pune]]-based Hindustan Polyamides and Fibres Ltd and transferred control of the chemical division to the newly acquired firm.<ref>{{cite web|title=Bombay Oil Industries Limited: Sound logic behind revamp of family business|url=https://www.indiatoday.in/magazine/economy/story/19900731-bombay-oil-industries-limited-sound-logic-behind-revamp-of-family-business-812860-1990-07-31|website=India Today|accessdate=17 May 2018|language=en}}</ref>

BOIL retained ownership of its popular [[Parachute (brand)|Parachute]] and [[Saffola]] brands. The company leased the brand rights to Marico in exchange for regular royalty payments. On 14 June 2000, Marico purchased the brand rights for the Parachute and Saffola brands from BOIL for {{INRConvert|30|c|year=2000}}.<ref>{{cite web|title=Marico Industries pays Rs 30 cr to Bombay Oil for Saffola, Parachute|url=http://expressindia.indianexpress.com/fe/daily/20000615/fex15052.html|website=Indian Express|accessdate=17 May 2018|archive-url=https://web.archive.org/web/20180517153351/http://expressindia.indianexpress.com/fe/daily/20000615/fex15052.html|archive-date=17 May 2018|url-status=dead}}</ref>

Kancor Flavours and Extracts Ltd was renamed Kancor Ingredients Ltd. in 2006.<ref>{{cite web|title=Kancor Ingredients Ltd.: Private Company Information - Bloomberg|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=50308107|website=Bloomberg|accessdate=17 May 2018}}</ref> France-based [[Mane SA]] acquired a majority stake in Kancor in December 2014.<ref>{{cite web|title=MANE takes majority stake in KANCOR|url=http://www.mane.com/news/mane-takes-majority-stake-kancor|website=www.mane.com|accessdate=17 May 2018|language=en}}</ref><ref>{{cite web|title=Mane acquires majority stake in Kancor Ingredients|url=https://www.foodnavigator.com/Article/2014/12/05/Mane-acquires-majority-stake-in-Kancor-Ingredients|website=foodnavigator.com|accessdate=17 May 2018}}</ref> Hindustan Polyamides and Fibres Ltd was rebranded as Eternis Fine Chemicals Limited in March 2015.<ref>{{cite web|title=HPFL change their name to Eternis Fine Chemicals Limited - Stort Chemicals|url=https://stortchemicals.co.uk/hpfl-change-name-eternis-fine-chemicals-limited/|website=Stort Chemicals|accessdate=17 May 2018|date=13 March 2015|archive-url=https://web.archive.org/web/20180517153641/https://stortchemicals.co.uk/hpfl-change-name-eternis-fine-chemicals-limited/|archive-date=17 May 2018|url-status=dead}}</ref><ref>{{cite web|title=Rajen Mariwala Interview|url=https://cewindia.com/rajen_mariwala_interview.html|website=cewindia.com|accessdate=17 May 2018}}</ref>

==References==
<references />

[[Category:Indian companies established in 1947]]
[[Category:Companies based in Mumbai]]
[[Category:Holding companies established in 1947]]

Bombay Oil Industries - Revision history

>BrownHairedGirl at 19:09, 14 April 2021