The Chemical Hub of Hinduja Group was created with Gulf Oil India Limited merging with IDL Industries Limited from 1st January 2002. The merger has enabled the Company to leverage the large marketing networks of lubricants and industrial explosives businesses and achieve a turnover for the financial year 2008-09 of Rs.1000 crore (US$200 million). Exports accounted for 5% of the turnover.
IDL Industries Limited was renamed as GULF OIL Corporation Limited with the merger of Gulf Oil India’s business. A property Development Division was started in the Company from 2006. With effect from 1st April 2008 the business of specialty chemicals Division has been transferred to a 100% subsdiary – IDL Speciality Chemicals Limited through a scheme of arrangement sanctioned by the High Court of Andhra Pradesh at Hyderabad.