ESPI Industries and Chemicals was started in 1979 by Shri Ashwini Chadda who is a B.Tech in Chemical Engineering from IIT, Kanpur and PGDM from IIM Calcutta, two of the premier institutions of India.

The unit was started as a bulk drug unit for supply of Antacid chemicals to Warner Hindustan Ltd who were having difficulty in procuring this material. In the initial couple of years the entire production was being sold to Warner Hindustan.

In 1983, the Company diversified its activities to manufacturing formulations for various manufacturers. It was not until 1987, that a big contract was signed with Procter & Gamble for manufacture of their prestigious brand "Oil of Olay". The experience of manufacturing this product gave the Espi team a new insight into manufacturing practices followed in other parts of the world. With international audits of Procter & Gamble, the team of employees at Espi had a great learning experience and confidence that Espi could be among the top manufacturers. With this confidence the unit expanded its manufacturing activities further into formulations and from the early nineties it became a regular source of contract manufacturing for large multinationals.

ESPI manufacturers some of the most prestigious products of these companies either on Loan Licence basis or on third party basis. Some of the brands manufactured at Espi include " Riflux and Riflux forte", " Ibuclin", " Mucaine Gel" etc.

Quality has been the watch word at Espi and the companies facilities are constantly audited by various regulatory agencies including the WHO and also the auditors from both overseas and in India..

Some of the products manufactured by Espi have been exported to Mozambique and Angola. The company is also in the process of registering its products in Nigeria and Vietnam.