Highlights of Annual Report 2010 of Riddhi Siddhi Gluco Biols Ltd.


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Highlights embeded in the Annual Report 2010 of Riddhi Siddhi Gluco Biols Ltd. :

Past & Present :

(1) From a market-share of 18 % in FY2000, company grew its market share to 30 % in FY10.

(2) Company enjoys a 45 % market share in Northern India.

(3) Company invested Rs. 147 cr. in Gross Block between FY95 to FY06 whereas it invested Rs. 259 cr. in Gross Block between FY06 to FY10.

(4) Company started with a corn processing capacity of 75 TPD in 1994 and today, as in 2010, it has a corn processing capacity of 2000 TPD. It is worthwhile to mention here the fact that in 1994, Riddhi`s closest competitor had 4 times Riddhi`s then capacity of 75 TPD while today, in 2010, Riddhi`s closest competitor is having half the installed capacity of Riddhi.

(5) Company enjoys ISO 22000 as well as ISO 9001:2000 certifications across all its manufacturing units which reflects highest quality standards adopted by the company.

(6) As on 31st March 2010, company has a total customer base of around 1,730.

(7) As on 31st March 2010, company has a total employee strength of 970.

(8) Average Capacity Utilization in FY10 was 98 %, up from 82.52 % in FY09.

(9) Average Realisations on finished products increased from Rs. 15,419 per tonne in FY09 Rs. 18,195 per tonne in FY10.

(10) RoCE increased from 14.5 % in FY09 to 26.7 % in FY10

(11) Company has a foreign currency loan worth US $ 29.41 mn. on its books.

(12) Interest Outgo declined from Rs. 27.17 cr. in FY09 to Rs. 20.83 cr. in FY10

(13) Interest Cover improved from 2.33 in FY09 to 5.85 in FY10.

(14) Value-added products contributed 49 % to the topline of FY10.

(15) Riddhi`s corn consumption accounted for 10 % of Karnataka`a entire maize production.

(16) Pantnagar Plant became the first Indian plant of the industry to have a PLC-enabled manufacturing process which reduces human intervention while enhancing quality.

(17) Gokak Plant went for a preventive maintenance in FY10 which imparted the ability to the plant to achieve 2000 hours of non-stop operation.

(18) Company has set-up a water recycling plant which is a first in the industry.

Future :

(19) Company is expecting to achieve 30 % annual growth for the next 5 years.

(20) Going froward, the focus of the company will be more towards effective debt management to strengthen its balance sheet.

(21) Benefits of expanded capacity at Pantnagar Plant likely to accrue in second half of FY11.

(22) Company is in active discussion with Roquette Freres to add more products to its portfolio. It is worthwhile to note here that Riddhi currently has 40 products in its portfolio whereas Roquette has a product portfolio of 650.

(23) Company plans to raise its current half-a-million tonne annual corn wet milling capacity to one-million tonne annual corn wet milling capacity within 5 years.

(24) Company plans to introduce few innovative products targetted at food and paper industry in the current fiscal.

(25) Company plans to invest in partial automation of its Viramgam Plant to achieve higher production efficiency and lower wastage.

(26) Company expects to achieve ISO: 14000 certification in current fiscal which will vindicate its efficient environment management strength.

Link to Annual Report - maheshar10riddhi.keepandshare.com

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