Karuturi Global Ltd Company Summary

Karuturi Global Limited (KGL) was blossomed on 26th December of the year 1994 as a Karuturi Floritech in Doddaballapur, near Bangalore with an annual capacity to process 12 million premium cut roses at its state-of-the-art facilities (a 100% EOU unit for floriculture). KGL is engaged in three businesses, such as floriculture, processing foods - gherkins, and information technology. Promoted by Ramakrishna Karuturi, the company has set up a wholly owned subsidiary in Ethiopia, Africa - Ethiopian Meadows Plc - to produce roses with a special focus on HT roses. And today with the combined production capacities of India and Ethiopia, Karuturi ranks amongst one the largest cut rose producers in the world with a strong global presence. In addition to cut roses, the company also supplies cut rose products such as rose plants, coco peat and coco cups to customers across over 15 countries including Holland, Germany, United Kingdom, Italy, Singapore, Taiwan, Bahrain, Muscat, Dubai, Australia, Japan, New Zealand, Brunei and across North America. KGL had established the first production facility near Bangalore after a year from incorporation for its production purpose. During the year 1999, the company had set up an Internet Auction Portal by the name Rose Bazaar.com to derive benefits of disintermediation through use of Internet. Also set up second production facility for roses near Bangalore taking the total size of rose farms to 10 hectares. In keeping with the changing focus, the company had changed its name from Karuturi Floritech Ltd., to Karuturi.com Ltd in the year 2000. During the period of 2001, KGL had invested in a private Satellite Gateway and an IDC as a part of the Rose Bazaar initiative. As on 12th January of the year 2001, Karuturi.Com changed its name in to Karuturi Networks Limited. The Company also got Class .B. ISP licence from the Department of telecom as a statutory requirement for a private Internet Satellite Gateway and has since been renamed Karuturi Global Ltd. To use surplus bandwidth capacity, the company had started selling VPN circuits and leased line circuits to quality conscious corporates with Ultimate selling point (USP) of near IPLC quality with 640 ms latency non shared bandwidth. The year 2003 was notable one; KGL had emerged as the lowest cost rose grower and the largest rose producer in the country during the year 2003. In 2004, conceptualised the Ethiopian initiative and formulated a wholly owned subsidiary in Ethiopia, Africa, called Ethiopian Meadows Plc to produce HT cut roses. The company had forayed into processed foods gherkins in the year 2005 as the conceptualised the synergistic. KGL had received the largest order for roses in its history from the latest retail chain at UK in the year 2006 and also embarked on setting up a gherkins bottling plant in the same year, The Company had forayed into gherkin production at the beginning of 2007-08 in Bangalore. The company had bagged substantial orders to fully utilize the plant capacity. Karuturi Networks Limited changed its name into Karuturi Global Limited on 3rd March of the year 2008. The company had acquired 1, 00,000 acres during the same year 2008 in Ethiopia to grow crops such as sugarcane, paddy, soyabean and oil palm. To improve its production a capability in this segment, KGL plans to take up in-house production of gherkins in addition to contract farming and also exploring the possibility of foraying into bottling of baby corn, jalapenos & green ball peppers, for which a huge global demand exists.