Richa Industries Limited
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BSE Code:
532766
NSE Code:
RICHAIND
Business Profile
Business Profile
Richa Industries (RICHA) is engaged in manufacturing, dyeing and processing fabric and manufacturing garments. It was incorporated on Sep. 15, 1993 as a private limited company and became a public limited company vide a special resolution passed on Sep. 12, 2003. Earlier known as Richa Knits, it got its present name with effect from May 21, 2008.
The company`s knitting unit produces all kinds of knitted fabric from yarn including single jersey for men to lycra for women. The processing unit has dyeing facilities including reactive dyes for 100% cotton fabric; disperse dyes for polyester fabric; facility to create finishes like wrinkle free, easy care and nano finish; brushing and mercerizing facilities. The garment division manufactures all kinds of garments including men`s wear, ladies and kids wear, specialized products like golf T-shirts and track suits.
Automated manufacturing units are located in the Faridabad and Gurgaon districts of Haryana with installed capacities of 4,200 MTPA fabric, 900,000 garments, and 1,190 MTPA knitted fabric as on March 31, 2007. As part of its restructuring activities, the company has entered into infrastructural activities and formed a subsidiary company called Richa Infrastructure. It has secured land at Bawal from the Haryana State Industrial & Investment Development Corporation to set up a plant for the manufacture of pre-fabricated sheet structures and acquired a 49% stake in Moksh Leisure & Entertainment, which runs a restaurant under the trade name Le Moksh.
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A certificate of recognition as an Export House has been granted by JTDGFT, Ministry of Commerce & Industries, Government of India. The company`s domestic customers include Rolex Hosiery, Arvind Mills, Benetton, Reebok, Adidas, Matrix Clothing, Gulati Exports, and others. It has worked with labels like Wallmart, Kmart, Stitches, Quicksilver, Redcat, Philhober, Next, Tristan and Isuet. Major export destinations include USA, Canada and UK.
The registered office of the company is at Plot no. 5, Sector 7, IMT Manesar, Gurgaon-122050.
Financials
Richa Industries registered a 10.04% growth in net profit to Rs 15.23 million for the quarter ended December 2007 from a profit of Rs 13.84 million for the quarter ended December 2006.
Net sales increased 2.69 times to Rs 319.51 million for the quarter ended December 2007 from Rs 118.74 million for the quarter ended December 2006.
Total income rose 171.79% to Rs 322.78 million for the quarter ended December 2007 from Rs 118.76 million for the quarter ended December 2006.
The earnings per share (EPS) of the company stood at Rs 3.57 for the quarter ended December 2007.
Recent Developments
12-JUN-08
The company has been granted certificate of recognition as Export House by JTDGFT, Ministry of Commerce & Industries, Government of India.
22-MAY-08
The company has applied for change in name from Richa Knits to Richa Industries on May 17, 2008, which has been approved by Registrar of Companies, New Delhi on May 21, 2008.
06-MAY-08
The company has acquired 49% shares of Moksh Leisure & Entertainment, a company running its restaurant under trade name Le Moksh.
11-MAR-08
Richa Knits secured 5 acres of land at Bawal from the Haryana State Industrial & Investment Development Corporation to set up plant for manufacturing pre-fabricated sheet structure.
04-JAN-08
Richa Knits announced its entry into infrastructural activities. The company has formed a subsidiary company namely Richa Infrastructure (RIL).