REI Agro Limited
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BSE Code:
532106
NSE Code:
REIAGROLTD
Business Profile
Business Profile
REI Agro (REIAGRO) is a basmati rice processing and marketing company. It was incorporated in 1994.
The company has an integrated processor from paddy procurement to drying, de-husking, milling, polishing, color sorting, grading, inspecting, packing, branding, distribution and retailing facilities. It sells basmati rice in bulk and in well known brands like Kasauti, Real Magic, Mr Miller, Hungama, Hansraj and Al-Tahaan. It has two processing units in Bawal Growth Center in Haryana and Khera Kalan in New Delhi with an installed capacity of 61 TPH.
REI Agro has a diversified income stream with strategic forays into the wind energy business with a 35.9 MW installed capcity in Rajasthan, Maharashtra and Tamil Nadu. In 2007, the company marked its entry into the retail sector of Punjab, Haryana, and Chandigarh with the opening of five retail stores called 6Ten. It has planned to open 50 more stores in Punjab and Haryana with an investment of Rs 500 million within a year.
The company is ISO 9001:2000 certified and has a growing presence in the Middle East as a Basmati exporter. It exports products to Saudi Arabia, Dubai, USA and UK among others. It has a strong pan-India network of 460 dealers, and products are available across 100,000 retail outlets. The registered office of the company is located at 94 Km Mile Stone, Delhi-Jaipur Road, NH-8, Bawal Growth Centre, Jaliavas village, Rewari district, Haryana.
Financials
The company disclosed a phenomenon drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 92.29% to Rs 20.39 million from Rs 264.49 million in the same quarter previous year. Net sales for the quarter rose 25.09% to Rs 5,700.92 million, while total income for the quarter rose 25.49% to Rs 5,721.59 million, when compared with the prior year period. It posted earnings of Rs 0.54 a share during the quarter, registering 90.00% decline over previous year period.