Riddhi Siddhi Gluco Biols Ltd Share Price

History of Riddhi Siddhi Gluco Biols Ltd

Riddhi Siddhi Gluco Boils Limited was formerly incorporated as Riddhi Siddhi Starch & Chemicals Private Limited, as a Private Limited Company in July, 1990. The company became a public limited company in February, 1992 and its name was changed to Riddhi Siddhi Starch & Chemicals Limited in April, 1992 and was again changed to Riddhi Siddhi Gluco Boils Limited in March, 2002. The Company is engaged in the business of generation and selling power through windmills and in business of trading in agriculture and metal commodity items. The Company had sold its Corn Processing Business during FY 2011-12, and invested the sale proceeds realized into various treasury instruments to optimize the return on surplus / idle funds. The company came out with a public issue in Nov.'93 to part-finance a ...project to set up an unit to manufacture starch and its by-products in Junapadhar (Ahmedabad district), Gujarat. The company's products include maize starch powder, white dextrine, yellow dextrine, thin boiling starch and oxidised starch. These products are used in industries like food products, pharmaceutical formulations, packing materials, textiles, etc. The by-products generated during the manufacturing process are husk fibre, gluten, oil cake and maize oil. Husk fibre, gluten and oil cake are sold as cattle feed and maize oil is refined further to produce edible oil. The Company enhanced the capacity of down stream products with substantial increase in the basic capacity of maize crushing and implemented a 6 MW Bio Mass based Co-generation Power Plant at its Gokak unit during the year 2001-02. During 2007-08, the Company expanded the Viramgam unit from 100 tpd to 250 tpd of corn grinding. It implemented the new plant in Rudrapur, Uttarakhand, having 1500 tpd of corn grinding capacity costing Rs 125 crore. Resulting to this, the said Unit commenced operations and the total corn grinding capacity of the Company reached 5 lac tonnes per annum in 2008. The Company expanded capacity at Pantnagar Unit in Uttarakhand in 2009-10. In 2010-11, 7.65MW Wind Energy Plant was commissioned in Tamil Nadu, Maharashtra and Gujarat. During 2011-12, the Scheme of Arrangement for Demerger and Transfer of Demerged Undertaking of the Company to Riddhi Siddhi Corn Processing Private Limited (RSCPPL) became effective from May 29, 2012. Accordingly, the Company's Corn Wet Milling business along with its assets and liabilities got transferred to RSCPPL effective on October 1, 2011. The Company became the Subsidiary of the Creelotex Engineers Private Limited on March 31, 2017.