Grapco Industries (GIL) was incorporated on 13 Mar.'89 as a public limited company under the name Grapco Mining & Company.
GIL is promoted by R P Jhunjhunwala and Grapco Granites. R P Jhunjhunwala is the chairman and C R N Swamy is the managing director. GIL's group companies are Aarpeejay Construction, Aarpeejay Properties, and Grapco Securities & Finance. It came out with a Rs 13.71-cr rights issue in Nov.'94 to part-finance its Rs 17.80-cr project for acquiring additional granite quarries and to augment long-term funds. The company is into mining, finance, etc. GILs products are granite, marble, sandstone and slate. The company's clients include 100% EOUs and granite tile manufacturers. GIL has technical collaboration with Budiam America Diamond Tools, US, for its diamond cutting tool project.
The company has set up an EOU in Rajasthan in 1994 to manufacture knitwear garments. The name of the new company will be Grapco Knitspin. GIL has also set up Grapco International to diversify the product range for international markets.