Agro Dutch Industries Ltd Share Price

Summary

Incorporated in May 92 as Indo Dutch Foods, the company was renamed Agro Dutch Foods in Jul.92. Promoted by the Punjab Agro Industries Corporation in the joint sector with Malvinder Singh Bhinder and his associates, It acquired its present name, Agro Dutch Industries in Mar.01.The company went public in Nov.93 to set up a 100% EOU in the food processing industry for the manufacture and export of canned white button mushrooms.Company has reached the stage where it has become one of the major global supplier of mushroom and wide acceptance of the finished goods & in the international market has opened flood gates for future growth for the Company.In 1999-2000, the company has increased the installed capacity from 9736 TPA to 12000 TPA and hence the company produced 13938 tonnes of mushroom. The company is also planning to double its existing capacity from 12,000 to 24,000 TPA, due to demand of the product in the international market and in Mar.00, it made a preferential allotment of 10 lakh equity shares to Kanan Foods Inc., US, which is equivalent to a 7% stake in the company at a premium of Rs 140 per share.In the fiscal 2001, product worth Rs 2.8 crore was recalled from USA due to defect in the cans supplied by a domestic manufacturer. To avoid repeat of this problem, the company has set up its own Can Manufacturing facility which has commenced production. The company has signed a new contract with one of the biggest company namely M/s Pillsbury Company of USA.
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