Devika Chemicals is one of the pioneer organizations involved in the activity of corrosion prevention of reinforcement steel in construction and allied industry. Established in 1982 by Mr. L.K.Bhanushali, Devika has been involved in this activity for the past 18 years and has been actively introducing and implementing updated technologies for corrosion prevention of reinforcement steel in India. 

Devika obtained the first and foremost license for manufacture of Anti-Corrosive Coating system called as "CEMENT SLURRY COATING SYSTEM FOR REINFORCEMENT STEEL" by which the company has treated steel in major projects. This technology is now also referred as "Old CECRI System". The company has undertaken numerous projects throughout India for the treatment of reinforcement steel for projects like construction of bridges, flyovers, viaducts, buildings, etc. 

Devika Chemicals is affiliated and licensee of some of the technologies for corrosion prevention which was developed by CENTRAL ELECTROCHEMICAL RESEARCH INSTITUTE (CECRI), KARAIKUDI, TAMIL NADU. The company has been affiliated to this institute for more than a decade.

Devika Chemicals is the recipient of Quality Construction and Outstanding Performance Award for Konkan Railway in 1994 from the then Chief Engineer, Mr. S.C Gupta. The company stood up to the test of completing the projects on schedule during the entire project period. Devika has the distinction of treating more than 1,00,0000 tons of reinforcement steel for the projects by the above-mentioned system. The projects also included landmark buildings such as VASHI RAILWAY STATION and JUINAGAR RAILWAY STATION constructed by CIDCO.