he life expectancy of companies is shrinking with time due to the incorporation of new companies at a rapid rate. However, some companies have been living by the saying ‘old is gold’ as they have been in business for over a century.
Five oldest companies in India
- Bombay Dyeing Company
- Shalimar Paints
- SBI- State Bank of India
- ITC
- Britannia Industries
In the era of startups, we hear about companies opening and closing everyday in the country, but the following five oldest companies in India are still running profitable.
Bombay Dyeing Company
Started as a dyeing company in 1879 by Nowrosjee Wadia, Bombay Dyeing Company did not shift towards the textile business till it suffered huge losses in its business in the early 1900s.
The company managed to stay in business and earn huge profits over the last 100 years despite having competition, price wars, and the emergence of low-cost manufacturing centres across India.
Today, Bombay Dyeing Company has become one of the country’s biggest and most trusted brands.
Shalimar Paints
Shalimar Paints, established in 1902, is the oldest paint company in South Asia.
Government agencies like Central Public Works Department, Indian Railways, BPCL, IOC, and NTPC are some of their clients.
The paints company offers more than 50,000 colour options to its clients.
SBI- State Bank of India
Founded in 1806, SBI was originally known as the Bank of Calcutta, and it was set up mainly to fund British General Wellesley’s war against the Marathas and Tipu Sultan, the ruler of Mysore.
Before being called the State Bank of India, it was called the Bank of Bengal in 1809. Later, in 1955, the bank was renamed as the Imperial Bank of India.
In 2020 SBI was ranked as the 43rd largest bank in the world.
ITC
We all know ITC as a behemoth in the hotel business. But, it was established as the Imperial Tobacco Company of India Limited in 1910. The company was then renamed twice India Tobacco Company and I.T.C. Limited in 1970 and 1974, respectively.
The company is now known as ‘ITC,’ which is not an acronym or an initialised form. Headquartered in Kolkata, West Bengal, ITC has a diversified presence across FMCG, hotels, packaging, paperboards, cigarettes, and agribusiness.
Britannia Industries
Founded in 1892 and headquartered in Kolkata, Britannia Industries Limited is an Indian food and beverage company and is one of India’s oldest existing companies.
Best known for its Britannia and Tiger brands of biscuits, bread, and dairy products, it has a strong presence in India and more than 60 countries.
Britannia is one of India’s 100 Most Trusted brands listed in The Brand Trust Report.
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Conclusion
The following oldest companies of India face their share of challenges and struggles but remain profitable and grow.
We don’t have to remind any of these companies how old they are because we are sure that the candles would cost more than their birthday cake.
