RIDDHI SIDDHI GLUCO BIOLS LTD-$
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BSE Code:
524480
NSE Code:
RIDDHI
Business Profile
Business Profile
The company, which is a part of Riddhi Siddhi Group, was established in 1990 in the name of Riddhi Siddhi Chemicals. It manufactures various types of starch, liquid glucose, dextrose monohydrate, maltodextrin, dextrose syrup and high maltose corn syrup. Several products of the company are exported to Middle East, South East Asia, Bangladesh, Sri Lanka and Nepal. The company has two manufacturing units situated in Ahmedabad and the Belgaum district of Karnataka.
Financials
Riddhi Siddhi reported an impressive growth in net profits for the quarter ended Sep. 2006 at Rs 53.98 million as against Rs 26.51 million during quarter ended Sep. 2005. Sales for the quarter ended Sep. 2006 increased 27.37% to Rs 749.12 million as against Rs 588.15 million last year for the corresponding quarter. The net profit of the company for FY06 stood at Rs 113.44 million as compared with Rs 39.52 million in FY05. Net sales for the year ended Mar. 2006 stood at Rs 2,298.63 million as compared with Rs 1,838.58 million for the previous year ended Mar. 2005. EPS for the year stood at Rs 13.42 as against Rs 6.13 for the previous year ended Mar. 2005.
Future Plans
The company will invest Rs 1,200 million in 2007 for the establishment of a greenfield maize processing plant at Pant Nagar in Uttaranchal and upgrade its two existing facilities in south India. This expansion would double the company`s annual sales to Rs 5,000 million by 2009-10. The upgradation will raise the processing capacity of the plants to 2.85 lakh tons from 2006-07.