In 1992, ICL took over the ailing Industrial Chemicals and Monomers Ltd. (ICML) , a chemical plant with an installed capacity of 12,500 tonnes per annum of Calcium Carbide.

This subsidiary Company of ICL located at Sankarnagar- Tirunelvelli, whose performance has been consistently good since the first year of its takeover had a record breaking year in 1996-97, achieving its highest turnover and profitability.