Kanel Industries Limited, formerly known as Kanel Oil & Export Industries Limited, promoted by a Group of Traders, was incorporated on 29 January, 1992 in Gujarat. The Company's name was changed to Kanel Industries Limited on November 7, 2011. Company was earlier in the business of trading into edible and non-edible oils.

During year 1998, the Company started the commercial production of it's new fully automatic, modern Castor Seed Crushing Plant at  Mehsana.
However, Company was out of business for a longtime and underwent insolvency resolution during the FY 2021. It was performing activity of bulk trading of cottonseed oil, groundnut oil, sunflower oil, palmolein oil and soyabean oil. However major part of India's Edible Oil demand was supported by equivalent increase in imports. Since 2012-13, out of the 6 mn tons of incremental demand has parallely seen 5 mn tons of import increment.

Company performs activity of bulk trading of cottonseed oil, groundnut oil, sunflower oil, castor seeds, palmolein oil and soyabean oil. The Company subsequently set up a 100% export-oriented integrated castor seed processing complex at Ganeshpura (Sabarkantha district), Gujarat, where it manufactures castor oil (28,200 tpa) and castor de-oiled cakes (30,600 tpa). The company's products find application in pharmaceutical, chemical, cosmetic, plastic and rubber industries. It sells its products all over India through its marketing branch offices in major cities. It does not have any marketing tie-ups with agencies abroad, nevertheless, the promoters are hopeful of creating an export base in the US, Czechoslovakia, Korea, Japan and other countries.