Sri V M Kumaresan and his family started Butterfly Gandhimathi Appliances Ltd in 1986. Today reckoned among the largest Kitchen Appliances Companies in India, with a large and trusted customer base both in the country and overseas. A pioneer and among the very few integrated manufacturers of Domestic Kitchen Appliances in the country, BGMAL is reputed for Quality and Innovation, with benchmark standards and many industry-first achievements to its credit. The Company's flagship and popular `Butterfly' brand includes one of the widest ranges of Domestic Appliances such as LPG Stoves, Mixer Grinders, Tabletop Wet Grinders, Stainless Steel & Aluminium Pressure Cookers, Stainless Steel Flasks & Water Bottles, Chimney Hobs, Geysers, Air Coolers, among others.

In 2022, through Share Purchase Agreement (SPA), Crompton Greaves Consumer Electricals Limited acquired 55% of the Equity Share Capital of the Company from the Promoter and became the Holding Company.

Sri V M Kumaresan and his sons established Rishaba Industries in 2022. The company has 4 state-of-the-art-manufacturing units, backed by the latest R&D facilities to ensure total compliance to standards of excellence in design and quality. The company's products are also exported to the United Kingdom, Canada, Australia, Japan, Middle East, and the East Asian Countries, among others. Their products have been recognized for their quality standards by various international organisations.

Presently the Company is engaged in manufacture of nonstick cook ware, stainless-steel vacuum flasks as well as water bottles, toys, food processors, storage containers, kitchenware, and household appliances.