MCON Rasayan India Limited was originally incorporated as MCON Rasayan Private Limited' at Mumbai, pursuant to a Certificate of Incorporation dated September 22, 2016, issued by the RoC. Thereafter, name of Company was changed to MCON Rasayan India Private Limited' on October 17, 2022. Further, name of the Company changed to MCON Rasayan India Limited', and consequent upon the Conversion of the status from Private to Public Company, a fresh Certificate of Incorporation was issued by the RoC on December 12, 2022.
The Company is into the business of manufacturing, marketing and selling of modern building materials and construction chemicals in both powder and liquid forms. The powder products such as ready mix plaster, tile adhesives, block adhesives, wall putty, micro concrete & polymer mortar, engineering non shrink grouts and floor hardeners are widely used in the building construction segment. Their liquid portfolio having products such as polyurethane (PU) based liquid membrane, bonding agents, paints, anti-corrosive coatings, concrete admixtures and curing compounds accordingly are marketed and sold under the 'MCON' brand.
The Company has 2 manufacturing plants in Valsad and Navsari, in Gujarat. Their first plant in Valsad, mainly manufactures admixtures, wall putty, tile adhesives, paints, concrete repair systems and waterproofing systems and has an installed capacity of 2,500 MTPA. The other plant at Navsari, mainly manufactures readymix mortars, block adhesives and tile adhesives and has an installed capacity of 12,500 MTPA. For these, the Company has installed some equipments including weighing scale, weighing balance, water bath, vernier caliper, thermometer, themohygrometer, SS scale, shear & adhesion test machine, spectrophotometer, measuring tape, hot air oven, external micrometer and digital stopwatch. These products also serve various developers, contractors and architects in the western regional markets like Maharashtra, Gujarat and Rajasthan.
In 2012, the Company established Unit I for their manufacture of Liquid and Powder products.
In 2019, it launched 'MCON Magic Coat PU', a flagship product.
In 2021-22, it introduced MCON MORTAR/ NSA Grey product in the market. It launched further 8 new and innovative products such as , MCON CI 300, MCON EPOXY SBA, MCON 2K Epoxy Primer, which is suitable for priming concrete / metal surfaces, including walls, prior to the application of any epoxy flooring, epoxy coating and epoxy repair mortar.
The Company brought IPO by allotting a fresh issue of 17,10,000 equity shares of face value of Rs 10 each and by raising funds aggregating upto Rs 6.84 Cr in March, 2023.