Indian Commerce & Industries

What Indian Commerce & Industries does

Indian Commerce & Industries Co. P. Ltd. (ICI) is a Chennai-based, family-owned engineering company that has been operating since 1907 and specializes in structural steel fabrication, engineering, and EPC contracting for industrial clients. The company operates through three brands: ICI (flagship structural steel brand, established 1907), Beehive (building products line acquired from Oakes & Co. in 1919), and Kowtha (foundry line established in 1952). Its core offerings span five product lines: Pre-Engineered Buildings (PEB), Conventional Steel Buildings, Support Structures, Process Equipment, and Steel Castings, with an installed capacity of 24,000 metric tons per year for structural fabrication across two manufacturing facilities (Sriperumbudur and Thiruvottiyur). ICI serves enterprise clients across automotive (Toyota, Ford, Ashok Leyland), tyres (MRF, Apollo Tyres), cement (Ambuja Cements), chemicals (Kansai Nerolac), and other industrial sectors, with marquee projects including a Rs. 118 crore single order for MRF Ltd. at Dahej (10,500 MT), 65M tall process structures for Charoen Pokphand, and a 210M x 210M warehouse for MNN Logistics.

The company's technology stack is built on conventional engineering software (STAAD Pro for structural design, Tekla for 3D detailing, AutoCAD for 2D drafting, and Microsoft Project for scheduling), with in-house engineering-to-installation capabilities managed by third and fourth generation family members. ICI's revenue model is project-based, with custom quotation per metric ton of steel or as lump-sum contracts; the company does not engage in active digital marketing, relying instead on direct B2B enterprise field sales, its long-standing brand reputation, and repeat business from 180+ clients across 15+ industries. Distribution is direct to enterprise clients, with no intermediary channel structure, and the company exports fabricated structures to 15+ countries including France, Belgium, Australia, Mauritius, and several African nations, earning four EEPC India export performance awards between 1996-97 and 2015-16. As a private, family-owned enterprise with no external funding rounds, M&A activity, or public listing, ICI operates as a legacy industrial player with established infrastructure but limited visibility into recent financial momentum.

Customer concentration in the ICI portfolio is anchored by a handful of large enterprise clients with multi-decade relationships, including MRF Ltd. (whose Rs. 118 crore Dahej order represents the largest single contract in company history), Toyota Motors, Ford Motors, Ashok Leyland, Apollo Tyres, Kansai Nerolac, and Ambuja Cements. While the company cites 180+ clients across 15+ industries, the disclosed project scale reveals that several marquee orders (10,500 MT for MRF, 9,000 MT for Kansai Nerolac, 4,75,000 SFT warehouse for MNN Logistics) represent outsized, project-anchored revenue events. The project-based one-time contract model with metric-ton-based pricing inherently produces lumpy revenue, with each large order materially shifting the annual mix. Customer retention appears strong given the 100+ year operating history and the fact that enterprises like MRF (35+ multi-storeyed mixing plants) and Kansai Nerolac have placed multiple sizable orders. However, the Rs. 118 crore single order equates to roughly 50-100% of estimated annual revenue, indicating that the loss of any one mega-project client could create a significant revenue gap in a given fiscal year. The customer base is broadly diversified across verticals (automotive, cement, chemicals, tyres, power, logistics, defence, food & beverage), which mitigates single-vertical risk but does not eliminate single-customer concentration risk.

Name

Indian Commerce & Industries

Legal name

Indian Commerce & Industries Co. P. Ltd.

Website

https://icico.in

Company type

Private

Founded year

1907

Operating status

Operating

Headcount range

251–500 employees

Short description

Indian Commerce & Industries is a Chennai-based, family-owned structural steel fabrication and EPC contracting company serving enterprise industrial clients across automotive, cement, chemicals, and logistics sectors with 24,000 MT/year installed capacity and 100+ years of operational history.

Ownership category

akta.pro rank

Product category

Structural Steel Fabrication & EPC Contracting

akta.pro industry

PRIMARYIMAKAOAE

Process Plant & Materials Handling EPC (Crushing, Conveying, Stockpiles, Loadout)

Industrials, Manufacturing & Construction/Metals & Mining/Mine Development, Engineering & EPC (Design, Construction, Closure & Reclamation)

SECONDARYIMAKACAO

Aluminum Project Development, Engineering & EPC (Smelters/Refineries)

Industrials, Manufacturing & Construction/Metals & Mining/Aluminum (Bauxite, Alumina & Primary/Secondary Smelting)

Keywords

• Structural steel fabrication
• Pre-engineered buildings
• EPC contracting
• Industrial steel structures
• Steel castings

Headquarters

HQ city

Chennai

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Steel Structure Fabrication & Installation: Project-based one-time contracts for fabrication and installation of pre-engineered buildings, conventional steel buildings, support structures, process equipment, and steel castings. Revenue is generated through lump-sum contracts or per-metric-ton pricing for industrial clients.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Indian Commerce & Industries Co. P. Ltd. (ICI) provides structural steel fabrication, engineering, and EPC contracting services for industrial clients. The company offers end-to-end project execution — from structural design and steel detailing through fabrication and on-site installation — delivering pre-engineered buildings, conventional steel buildings, support structures, process equipment, and steel castings for manufacturing plants, warehouses, and process facilities.

Product overview

Indian Commerce & Industries Co. P. Ltd. (ICI) is a structural steel fabrication and engineering company offering five core product lines: Pre-Engineered Buildings, Conventional Steel Buildings, Support Structures, Process Equipment, and Steel Castings. The company operates three sub-brands: ICI (flagship, established 1907), BEEHIVE (building products, established 1893), and KOWTHA (foundry line, established 1952). With installed capacity of 24,000 metric tons per year, ICI provides end-to-end solutions from structural design and steel detailing through fabrication and installation for industrial and commercial projects across India and 15+ export countries.

Differentiator

Problem solved

Functional benefit

Brands

• ICI: ICI is the flagship brand of Indian Commerce & Industries Co. Pvt. Ltd., established in 1907, and derives from the company's incorporated name. Offers engineered steel solutions including pre-engineered buildings, conventional steel buildings, support structures, process equipment, and steel castings.
• Beehive
• Kowtha

Products and services

• Pre-Engineered Buildings Pre-fabricated steel building structures including main frame components, secondary components, ancillary items, and building envelope, designed for rapid assembly and deployment for industrial and commercial facilities.
• Conventional Steel Buildings Custom-engineered steel building structures with main frame components, secondary components, ancillary items, and building envelope for projects with unique requirements beyond standardized pre-engineered solutions.
• Support Structures Industrial support structures including equipment support structures, platforms, pipe-racks, conveyor galleries, and duct support structures for process plants and manufacturing facilities.
• Process Equipment Industrial process equipment including chimneys, tanks, bins, hoppers, silos, and piping systems for various manufacturing and process applications.
• Steel Castings Steel castings in carbon steel, alloy, and stainless steel grades for cement plants, sugar mills, fertilizer plants, mining machinery, and chemical plants.

Quantifiable outcome

• 4,000+ projects executed and 4,00,000+ metric tons delivered over 100+ years of operation
• +3 more outcomes

Named customers13 records

Segments7 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Kirby Building Systems India: One of the largest pre-engineered building (PEB) manufacturers in India, directly competing with ICI in steel structure fabrication for industrial, commercial, and warehousing projects across automotive, logistics, and manufacturing customers.
• Pennar Industries: Indian structural steel fabrication and engineering company serving automotive, power, and infrastructure end-markets with PEBs, cold-formed sections, and engineered products—directly comparable to ICI's fabrication and EPC scope.
• Zamil Steel India: Subsidiary of Saudi-based Zamil Industrial, a global PEB and structural steel manufacturer with significant India operations; competes with ICI on pre-engineered buildings for industrial plants, warehouses, and airports.
• Tata BlueScope Steel: Joint venture between Tata Steel and BlueScope Steel focused on coated steel, PEB solutions (Econor), and engineered building systems in India—overlaps ICI's pre-engineered and conventional steel building offerings for industrial customers.
• Tiger Steel Engineering: Indian PEB and structural steel fabricator serving industrial, commercial, and infrastructure projects; directly comparable to ICI's pre-engineered building and conventional steel building product lines.
• Multicolor Steels (India): Indian PEB manufacturer and structural steel fabricator providing pre-engineered buildings, conventional steel structures, and turnkey industrial construction—directly competing in ICI's core product categories.
• Lloyd Insulations India: Indian PEB and insulation solutions provider serving industrial and commercial customers; comparable to ICI's structural steel and PEB offerings for warehousing, factories, and process facilities.

Broad incumbents

• Everest Industries: Established Indian building products manufacturer (pre-engineered steel buildings, roofing, wall panels, boards) competing with ICI in industrial building structures, though with a broader portfolio spanning roofing, panels, and ceilings.
• Tata Projects: Large Indian EPC contractor executing industrial, urban infrastructure, and power projects; overlaps ICI's EPC contracting motion at a much larger scale and serves many of the same enterprise and government clients.

Others

• Engineers India Limited (EIL): Public-sector EPC consultancy for oil & gas, petrochemicals, and fertilisers with engineering and project management capabilities; not a direct fabricator but a relevant EPC ecosystem peer competing for the same industrial clients and projects.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/indian-commerce-&-industries-co-p-ltd
• YouTubeyoutube.com/channel/UCrqRQK3xOQjcLqJ8Lz3k6Qw
• Pinterestpinterest.com/icicoin
• Xtwitter.com/icicoin
• Facebookfacebook.com/ICI-Indian-Commerce-Industries-Co-P-Ltd-100064005430325

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Indian Commerce & Industries