In 1956, Shri Shantilal B. Jhaveri formed Indian Extraction Ltd (IEL) and commissioned a Solvent Extraction plant at Jamnagar, Gujarat. It was one of the first of its kind in India for Solvent Extractions of edible oils. Started with a 50 MT de-oiled cake capacity per day, it was subsequently expanded to have a capacity of 300 MT per day supported by a refining capacity of 30 MT per day.
Over the period of time, the refinery and plant were upgraded making the manufacturing facility flexible for a multi crop plant use thereby capable of using input of Groundnuts, Rapeseeds and Soya beans.
IEL (Formerly Indian Extractions Ltd.) was a leading exporter of de-oiled cakes from India and also had a well established domestic market for refined solvent extracted groundnut and rapeseed oil which was marketed and sold under well reputed brand names “ DIAMOND” and “STAR”, both being registered trademark of IEL (Formerly Indian Extractions Ltd.).
As the business scenario for the industry changed and cheap palm and other oils started being imported, Multinationals established large refineries for their imported oils. These oils started capturing the entire domestic market leaving no room for Solvent extracted oils which were more expensive.
The Management wisely after being leaders in the extraction industry for more than 6 decades gradually exited the extraction industry and diversified into trading of chemicals.
Presently the Company is managed by Mr. Priyam S. Jhaveri who has more than 40 years of experience in the Chemical Industry.
Under his guidance the Company has cautiously diversified to trading of chemicals and colorants.
During the financial year 2017-18 as well as in the current financial year 2018-19 the Company has accounted all its turnover ( income from Operations) from the trading of chemicals, colorants, marketing support fees and warehouse rental income which are in the Company’s objects as mentioned in the Memorandum of Association.
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