KRBL Ltd

KRBL is an integrated packaged rice manufacturer. The Company is one of the largest exporters of Basmati rice. With the largest milling capacity in the world, the Company has grading and polishing stations, supported by a strong network across Punjab, Haryana, Uttaranchal and Uttar Pradesh. It exports rice to nearly 165 countries. KRBL was founded in 1889 at Lyallpur in Faisalabad, Pakistan. In its earliest incarnation, KRBL owned 10 cotton spinning mills, 2 rice mills, 16 commission agencies in 18 cities, and even a bank. In 1947, following the partition of India, KRBL reestablished itself and relocated its operations to Naya Bazar (Lahori Gate) in New Delhi. The seventies saw an influx of measures made on production of rise. Having restructured the business operations in Delhi, the company focused sharply on rice production. KRBL started exporting rice in 1978, becoming the pioneers of packaged rice for the international community. Having earned a reputation and a position to be counted amongst the leaders of rice, KRBL in 1985, for the first time, ventured out to start rice export on its own. In 1992, KRBL established the country's largest, most advanced basmati processing plant at Greater Noida in Uttar Pradesh exclusively for exports. In March 30th, 1993, the company was registered as public listed company obtaining the certificate of commencement of business from the Registrar of Companies. In 1996, the Director General of Foreign Trade, Government of India awarded KRBL with the recognition of Super Star Trading House for its increasing export success. In 1998, KRBL received the ISO 9002 certification by KPMG for the Alipur Delhi plant. During the year, KRBL entered domestic market with its flagship brands - India Gate and Doon. In 1999, KRBL pioneered the concept of contract farming in the states of Uttranchal, Uttar Pradesh and Punjab. In 2001, the company received the ISO 9002:1994 certification by KPMG for GBN plant. In 2002, KRBL was listed at the National Stock Exchange. In 2003, KRBL acquired a rice processing plant at Dhuri, Punjab for a price of USD 3.6 million. During the year, KRBL became the first company to receive FDI in the Indian rice industry. In 2004, KRBL received the HACCP & SQF certification for safe quality food. In 2005, KRBL earned recognition of a Four Star Export House. During the year, the company completed the first phase of revamping the Dhuri plant to commence processing operations. In 2006, KRBL obtained the largest GDR issue of 12 million USD in the history of the Indian rice industry. During the year, the company diversified into wind power generation by setting up a 12.5 MW plant at Dhulia in Maharashtra. In 2007, KRBL received the British Retail Consortium (BRC) certification. During the year, the company started a 3.5 MW power generation plant in Ghaziabad. In 2008, KRBL's two plants at Dhulia and Ghaziabad turned eligible for carbon credits. The Board of Directors of KRBL at its meeting held on 17 December 2009 considered and approved sub division of 1 (One) equity shares of the Company having face value of Rs. 10/- into 10 (Ten) equity shares of Rs. 1/- each subject to approval of shareholders by way of postal ballot. On 7 January 2010, KRBL informed the stock exchanges that it has given a purchase order to Suzlon Energy Ltd for the setting up of 8.1 MW Wind Turbine Generator(s) plant in the state of Tamilnadu (India). This Project will be operative before 31 March 2010. With this addition total capacity of Power Plant of the Company shall stand increased to 40.60 MW. On 14 July 2010, KRBL informed the stock exchanges that its Global Depository Receipts (GDRs) have been delisted from the Luxembourg Stock Exchange. The Board of Directors of KRBL at its meeting held on 11 November 2010 approved incorporation of a subsidiary company by way of investing Rs 2.10 crore i.e. 70% of paid up equity capital. The main object of subsidiary will be processing and sale of agro seeds. The Board of Directors of KRBL at its meeting held on 12 February 2013 have considered and taken a decision on Buy back of equity shares of the company. The company will buy-back up to 1 crore- equity shares at a price not exceeding Rs 35 per share from open market through the stock exchanges mechanism. The maximum amount set aside for buyback is Rs 35 crore. The Board of Directors of KRBL at its meeting held on 16 January 2014 decided to close the share buy-back offer with effect from the closing of the trading hours of 11 February 2014, being the last date of Buy-back as per the Public Announcement dated 13 February 2013. During the period from 12 February 2013 to 7 February 2014, the company bought back 77.22 lakh equity shares as against the minimum Buy-back quantity of 25 lakh equity shares. The Board of Directors of KRBL at its meeting held on 18 February 2015 considered and approved the scheme of Amalgamation between KRBL and Radha Raj Ispat Private Limited (Radha Raj) and their respective shareholders and creditors (Scheme). The Scheme is proposed to be effective from 1 April 2015, being the Appointed Date. Radha Raj is part of the Promoter Group of KRBL. Radha Raj holds 11.86% of KRBL's Paid-Up Equity Share Capital. Pursuant to the proposed amalgamation of Radha Raj with KRBL, post-merger paid-up capital of KRBL will remain same and there will be no dilution for any shareholders including public shareholders. The individual Promoters will directly hold shares in KRBL and there will be no change in the Promoter shareholding of KRBL. The Promoters will continue to hold the same percentage of shares in KRBL i.e. 58.81% of KRBL's Paid-Up Equity Share Capital even after this proposed merger. The purpose of this amalgamation is to simplify the shareholding structure and reduction of shareholding tiers and to demonstrate the Promoter Group's direct commitment to and engagement with KRBL. On 27 July 2016, KRBL announced that it has successfully commenced its new commercial plant at village Akbarpur Barota, district Sonipat in Haryana. This plant is involved into the commercial activities in the nature of grading, sorting and packaging of rice with a capacity of 20 MTn per/hr. On 13 December 2016, KRBL announced that as a forward integration step, the company has set up a Furfuryl Alcohol plant at Bhasaur, Dhuri district Sangrur in Punjab at a total cost of Rs 7 crore. Furfuryl Alcohol is a liquid organic chemical, manufactured from Furfuryl Oil which is produced from rice husk which arises as a by-product during the course of business activity of the company. The company, through this plant, intends to further convert the Furfuryl Oil into refined Furfuryl Alcohol, as there is huge demand for Furfuryl Alcohol in India. The commercial production of this Furfuryl Alcohol is expected to start shortly. On 10 March 2017, KRBL announced the launch of wholesome grain in the name and style of India Gate Quinoa. The product will be sold in both domestic and international market. On 19 March 2018, KRBL announced the launch of the ultimate super food containing protein, fiber, minerals, vitamins and essential fatty acids making it a one-stop solution for nutritive needs of all age groups. The product has been launched in the name and style of Chia Seed. The company also announced the launch of another product under the name and style Flax Seed. Flax Seed is a nutrient dense super-seed with a nutty flavor and delightful crunch. It is a combination of wholesomeness and taste which can be added in any meal of the diet. Both these products will be sold in international markets. During the year 2017-18, the Company made an innovative web initiative by launching Healthy Lifestyle- Quinoa.life under which it has a website and different segments for promotion, advertising and events. The web initiative has since then been gaining popularity amongst Company's target audience. During 2017-18, the Company strengthened its export presence by venturing into new markets like Europe, especially Netherlands, Belgium, Sweden, Guadeloupe, Germany and strengthening its existing presence in Middle East among others. n FY 2021, Company introduced 2 new products in its Health Food' segment. In FY 2022, the Company clocked an export revenue in the tune of Rs. 1,451 crores and exported 2.41 lacs metric tonne of rice. It revised the distributor network in the international market and added 7 new distributors across the key markets. KRBL commenced commercial production of new plant at Anjar, Gujarat in June, 2023.