Vikas Proppant & Granite Limited (formerly known Adarsh Derivatives Limited) a Company with public interest, was incorporated in October, 1994 and promoted by Bimla Devi Jindal and Kamini Jindal. The Company is engaged in the business of manufacturing of guar gum and its derivatives.

The company set up a plant to manufacture 6000 tpa of guar splits, 3050 tpa of guar polymers, 1000 tpa of guar derivatives and 13,900 tpa of cattle feed, at Chandisar, Gujarat. It came out with a public issue in Dec.'95 to part-finance the project.

Guar polymers and derivatives are used in textile, food processing, pharmaceuticals and oil drilling sectors, besides being used by the paper and explosive industries.

The company commenced commercial production of refined guar split in Jan.'96. In 1995-96, the company generated additional split manufacturing capacity by acquiring a running plant with a capacity of 3600 tpa, on licence basis.

During 1996-97, Guar Gum Powder plant started its production in Dec.'96. Company's product is doing well in the international market, particularly in USA & Europe.

The name of Company was changed from Adarsh Derivatives Limited to Vikas Proppant & Granite Limited effective from July 4, 2008.

The Company had allotted 32,50,00,000 Equity Shares on 28th December 2018 on preferential basis to promoters as well as to Qualified Investor. Consequent to the said allotment the issued and paid up share capital of the Company was enhanced to Rs. 506175000/- divided into 506175000 equity shares of face value of Re. 1/- each.