Usher Agro Ltd is one of the leading agribusiness houses in the country. The company is an agri-food processing company primarily engaged in milling and processing of rice and wheat in Northern India. They focus mainly on non-basmati rice and wheat products such as atta, maida, suji etc. Their plants are based in Uttar Pradesh and Bihar, which are among the main rice and wheat growing regions in India.
The company's principal products include rice, bran, wheat and husk. Its wheat products include fine and superfine wheat flour (maida), r-aata, whole meal aata (chakki atta) and bran (choker). They have one subsidiary company, namely Usher Eco Power Ltd.
Usher Agro Ltd was incorporated on June 20, 1996 as a public limited company. The company was established with the main object of manufacturing and processing in agro-based products and to deal in, trade, export or import such products. They entered the Food Processing Sector by setting up their first Rice Milling Plant at Mathura in Uttar Pradesh with a capacity of 10,800 MTPA.
In the year 1998, the company set up their second rice mining plant at their existing site at Mathura. In March 2003, they set up an automated modernized rice milling plant at Buxar in Bihar, a rich paddy cultivating area with a capacity of 46,800 MTPA and commenced commercial production.
In the year 2004, the company obtained ISO 9001:2000 Certificate from IIC Korea. In the year 2005, they obtained HACCP (Hazard Analysis and Critical Control Point) Certificate from IIC Korea. Also, their brand 'RASOI RAAJA' got registration from Trade Mark Authority.
During the year 2006-07, the company made an entry in capital market through Initial Public offer (IPO) resulting in the allotment of 12,012,239 equity shares of Rs 10 each for cash at a premium of Rs 5 per equity share. Their shares were listed on the Bombay Stock Exchange. They set up their Wheat Flour Mill at Mathura with installed capacity of 75,000 MTPA.
In the year 2008, the company further modernized their existing rice mill at Mathura (UP). In September 2008, they commenced operations of their 1 MW rice bio mass cogeneration power project for the captive consumption at Mathura (UP).
During the year 2008-09, the company commissioned third unit of Rice Milling at Chhata, Mathura (UP) plant with the capacity of 194,400 MTPA. With this, the total capacity of rice milling increased to 252,000 MTPA. Also, they set up new marketing and sales office at Mumbai, Indore, New Delhi and Kota (Bundi).
During the year 2009-10, Usher Eco Power Ltd became a subsidiary of the company as a result of allotment of 91,70,000 equity shares of 10 each fully paid up allotted to the company by Usher Eco Power Ltd. The company's equity shares were listed with the National Stock Exchange of India Ltd with effect from July 30, 2010.
The company is in the process of enhancing their existing rice milling capacity of Chhata Plant by more than 100%. At present, the Chhata rice milling plant is having capacity of 194,400 MTPA and with expansion of 291,600 MTPA, their Chhata rice milling capacity will be 486,000 MTPA and total rice milling capacity will be 543,600 MTPA.
The company is in the process of modernizing the existing facility of rice milling at Buxar and also adding additional capacity 50,000 MTPA thereby making the total capacity at Buxar to 96800 MTPA. Also, they are planning to setup a cogeneration power plant of 1 MW at Buxar, Bihar for captive use.
The company is planning to expand their existing wheat milling capacity from75000 to 125000 MTPA. This capacity expansion will increase the existing wheat milling capacity by more than 60% from its existing capacity.