Karnimata Cold Storage Ltd Company Summary

Karnimata Cold Storage Ltd Summary

Karnimata Cold Storage Limited was incorporated as a Private Limited Company on 29 April, 2011 later on converted into a Public Limited Company w.e.f. 4th December, 2012. The Company is engaged in cold storage business. The Company began its commercial operations for cold storage services of potatoes in March 2012. The project was setup with a total cost of around Rs. 8.75 Crore, which was financed by a term loan of Rs. 6 Crore and the balance through promoters contribution. In FY 2013-14, the capacity was increased by 7,500 M.T. The Company came with IPO of Rs 303.6 Lakhs during the FY 2013-14, and was listed on SME Platform BSE Limited on 18th March, 2014.Cold storage units provide storage facility to agricultural products on rental basis and Company providing storage facility of Potatoes. Hence the main revenue of the Company depends on potato growing, especially in the Paschim Medinipur area and adjacent areas of Paschim Medinipur, West Bengal i.e. the prime areas of potato harvesting.As cold storage industry related to agro products there are several risks associated with. Failure of potato crop in West Bengal State and specifically in and around Paschim Medinipur location, variation in potato prices in West Bengal and technical failures of key utility infrastructure such as power, water, machinery, uncertain climatic condition etc. And also in West Bengal the rent chargeable by the Company to the farmers and traders is set and controlled by the State Government.