Aditya Birla Nuvo Ltd (erstwhile Indian Rayon and Industries Ltd) is a diversified conglomerate within Aditya Birla Group. The company was entered into the industry in the year of 1956. It is a foremost player in most of its business segments, including viscose filament yarn (VFY), carbon black, branded garments, fertilisers, textiles and insulators. Over the past years, Aditya Birla Nuvo, through its subsidiaries and joint ventures, has also made successful forays into life insurance, telecom, business process outsourcing (BPO), IT services, asset management and other financial services, striking a balance between value businesses and high growth businesses. The all the divisions of the company are ISO 9000 / 14001 certified.
Indian Rayon's viscose filament yarn plant at Veraval goes on stream in the year 1963 and in the year 1966 the Birlas acquired Indian Rayon Corporation Ltd. Jaya Shree Textiles and Industries Limited, active in textiles and insulators, was merged with the company during the year 1976. In the year 1981 Jaya Shree Insulators' second unit at Halol was came to existence. The company's cement business was started 1984. During the year 1987, the company's name was changed from Indian Rayon Corporation to Indian Rayon And Industries Limited, to reflect the diversified activities of the company. The company forays into carbon black in the year 1988, the Hi-Tech Carbon (Renukoot) goes on stream. During the period of 1998, the company's cement business was transferred to Group Company Grasim, as part of cement business consolidation and in the same year commenced its Production of Hi-Tech Carbon's, the second carbon black plant situated at Gummidipoondi, Chennai. The company acquired Madura Garments and in the year 2000, and the Aditya Birla Group went to the top of the league in the branded apparels sector. The company made life insurance joint venture in the year 2001; as a result the Birla Sun Life Insurance Company commenced its operations in March of the year and Indian Rayon acquired PSI Data Systems.
In the year 2002, the company's Insulators business hived into a separate subsidiary. During the year 2003, the Greentech Environment (Silver) Award 2002-2003 in Chlor-Alkali sector for outstanding achievement in environment was came to company's hand. A Joint venture with NGK of Japan was happened and the Birla NGK Insulators Pvt Ltd was launched on 6 February 2003. Also entered into business process outsourcing (BPO), with the acquisition of TransWorks, a leading Indian ITES / BPO company. The Brownfield expansion of 40,000 tpa completed at Hi-Tech Carbon, Gummidipoondi in the year 2004, taking total capacity to 1,60,000 tpa. Indo Gulf Fertilisers Limited and Birla Global Finance Limited were merged with the company, in the year 2005. By virtue of the merger, Birla Sun Life Asset Management and Birla Sun Life Distribution, leading players in high growth Asset Management and Wealth Management industry came into the company's fold in the same year. Increased stake from 4.3 per cent to 20.7 per cent in Idea Cellular Limited, a company in the high growth telecom sector. Again the company changed its name from Indian Rayon to the present name Aditya Birla Nuvo Limited during the year 2005. During the period 2006, the company acquired Minacs, a leading Canadian BPO company in August of the year, Insulators JV with NGK terminated mutually in November, the Caustic soda capacity of the company was increased by 65 tpd taking total capacity to 225 tpd, and the chlor alkali & chlorine derivatives businesses of Aditya Birla Nuvo, Bihar Caustic and Grasim becomes a single SBU. Increased its stake from 20.7 per cent to 35.7 per cent in Idea Cellular Limited during the same year 2006. The company bagged 'Gold Award' in chemical sector for outstanding achievement in safety management at fifth Greentech Safety Award 2006 through its Hi-Tech Carbon Division.
The wholly owned subsidiary 'Aditya Birla Insulators Ltd.' was merged with the company in April of the year 2007 and in the same year the brownfield expanded 60,000 tpa at Hi-Tech Carbon, Gummidipoondi, took total capacity to 2,30,000 tpa. OHSAS 18001 / ISO 14001 certification was came to the Indian Rayon Division. The company awarded 'Most admired Apparel Company' and 'Clothing Company of the year' at the Clothing Manufactures Association Of India (CMAI) Awards. The company's brand 'Louis Philippe' was adjudged as the Best Formal Wear Brand. The Credit Analysis and Research Ltd assigned CARE AAA' (Triple AAA) rating for long-term facilities (including working capital) of Aditya Birla Nuvo. Further the company has also been assigned PR1+' (PR One Plus) rating for its short-term facilities as on April 2008.
In line with vision, the company to be a premium global conglomerate with a clear focus at each business level, and the geographic reaches has far expanded and continue will on. The company has taken many strategic steps during the year to strengthen its financials and boost the growth of new age businesses.