PMA was Founded in 1977 by Late Padmabhushan S.L. Kirloskar, Mr. V.S.Vaidya (Swastik Rubber} Mr. C.S.Kirloskar (Kirloskar group) Dr. N.A. Kalyani (Kalyani Group), Late Mr. C.V.Jog (Bank of Maharashtra).
PMA is an independent Trust and Public Society for propagation and transformation of society through Better Management Practices.