Substantial Show by Riddhi Siddhi - by mittar_b
Riddhi Siddhi Gluco Biols Limited (RSGBL) one of the largest manufacturer of starch in India was incorporated as a Private Limited Company on 2nd July, 1990 under the name of Riddhi Siddhi Chemicals Private Limited. The company was converted to a Public Limited company in March 1992 with the name of Riddhi Siddhi Chemicals Limited. The name of the company was further changed to Riddhi Siddhi Starch and Chemicals Limited on 10th April, 1992. Mr. Sampatraj L Chowdhary is the working Chairman of the company.The Company is ISO 9001:2000 certified. The Company manufactures various types of starch, liquid glucose, dextrose monohydrate, maltodextin, dextrose syrup and high maltose corn syrup and the byproducts such as Corn Gluten Meal and Enriched fiber which are used in various applications catering to different industries of Food, Textile, Paper, Pharmaceuticals, Confectionaries and many more.Several Products of the company are exported to different countries like Middle East, South East Asia, Bangladesh, Sri Lanka and Nepal. The company has the largest wet milling plant in the country having the highest crushing capacity with manufacturing units situated at Ahmedabad and the Belgaum district of Karnataka The company's main strength lies in satisfying all the needs of the customers and constantly improving the quality of the products through its in-house R & D department which has a dedicated group of engineers and scientists.The R & D department of the company is involoved in the work of product and process development and manufacturing of new products. The company having a rich expertise in the field of production, supplies products to all major institutions of the country.
The Company has adopted State of the Art Technology for the entire plant. Equipments are acquired from the world's renowned manufacturer in Europe and U.S.A. Appropiate steps are been taken for energy conservation measures.Recently the Company has announced the Commissioning of Pantnagar Unit of the company in Uttarakhand. The plant which has a maize grinding capacity of 1,65,000 TPA has been set up at a cost of Rs. 120 crores.With the commissioning of this plant the maize grinding capacity of the company has risen to 5 Lakh TPA. The plant would provide services to its large number of Corporate and institutional clients who have set up facilities in the states of Uttarakhand and Himachal Pradesh.
The Company has shown substantial rise in its results for the Quarter Ended, June 2008. The Net Profit of the company rose by 75 % to Rs. 8.22 crores as compared to Rs. 4.70 crores in the same time period last year. Net Sales of the company for the Quarter Ended, June 2008 surged by 79.2 % at Rs. 122.39 crores versus Rs. 68.28 crores in the corresponding time period last year. Total Income of the company also witnesses a hike of 79.2 % to Rs. 122.39 crores as against Rs. 68.28 crores in the same Quarter last year while Total Expenses of the company increased to Rs. 101.21 crores as compared to Rs. 56.65 crores in the Quarter Ended, June 2007.
The movement of Share price market of the company for the past one month is as follows:-
The company’s share price has increased 15 % to Rs. 215 as compared to Rs. 186.05 within the past one month and it is expected to rise more in the coming days. The share prices of the company as on 25th July stood at 286.05 Rupees which further increased to Rs. 193.60 as on 31st July, 2008.The company’s prices saw a high of Rs. 219.90 as on 20th August, 2008. The share prices for the day i.e. 25th July, 2008 closed at Rs. 215 witnessing a hike of 2.87% and an overall gain of 6 points as compared to previous day’s trading.