KN Agri Resources Ltd Company Summary

KN Agri Resources Ltd Summary

KN Agri Resources Limited was initially incorporated as Itarsi Oils & Flour Private Limited on 13th January, 1987 with the Registrar of Companies, Madhya Pradesh, Gwalior. Subsequently, the Company was converted into a Public Limited Company and the name was changed from to Itarsi Oils & Flour Limited vide a fresh Certificate of Incorporation dated 01 July 1990 issued by RoC, Madhya Pradesh, Gwalior. Following a Special Resolution, the Company name was changed from Itarsi Oils & Flour Private Limited to KN Agri Resources Private Limited dated October 26, 2021. Subsequently, the status converted into a Public Limited and following the said Conversion of the status, the name of the Company was changed from KN Agri Resources Private Limited to KN Agri Resources Limited vide a fresh Certificate of Incorporation dated November 22, 2021 issued by the Registrar of Companies, Chhattisgarh.The Company is into the business of manufacturing of Soya Bean Oil, Soya De-Oiled Cake and Soya Refined Oil. The company is also engaged in the business of generation of electricity unit through Windmill project and trading of Commodities. The Company has three manufacturing locations and four Windmill spread across India. The Company has three strategically located plants in the State of Madhya Pradesh comprising of three seed processing units, two oil refineries and one flour mill. The location of plants gives clients competitive edge over other players in terms of procurement and availability of major raw material like soyabean seeds. It has a cumulative solvent extraction capacity of 3,75,000 TPA, edible oil refining capacity of 60,000 TPA and flour milling capacity of 24,000 TPA. The two manufacturing units of the Company, namely, Khandwa Oils - Unit I and Unit II situated in Khandwa, M.P., are spread in the wide area of around 20 acres, while another unit located in Kheda, Itarsi, M.P. is spread around an area of 10 acres. All units have a well-equipped laboratory, modern technology and testing equipments with supporting environment and facilities, to ensure that the products conforms with predetermined food standards. Apart from these, the Company has four wind energy power plants of combined capacity of 4.60 MW in the state of Madhya Pradesh, Maharashtra and Rajasthan to reduce carbon emissions. The Company has entered into agreements with respective state government entities for exclusive sale of power, which is generated from three wind turbine generators located in the district of Sangli and Nandurbar in Maharashtra and Jaisalmer in Rajasthan. The power generated from wind mill situated in Dewas, Madhya Pradesh is taken in use for captive purpose. The Company has outsourced all operations and maintenance activities relating to wind turbines to third parties.Presently, the Company market products to around 15 states in India of which majority portion of revenue comes from the State of Madhya Pradesh, Gujarat, West Bengal and Maharashtra. Some of esteemed customers includes names such as Adani Wilmar Limited, Cargill India, Bunge India and Ruchi Soya. The major customers include agri-commodities dealers, trade houses, export houses and FMCG Companies. It export products to countries such as Netherlands, Singapore, Bangladesh and Nepal. Apart from this, the Company market refined oil primarily under registered brands like Classic and Khan-Pan.The Company received Second Highest Processor Award for F.Y. 2017-18 from SOPA. It received ISO 9001:2015 and ISO 22000:2018 certificate in respect of Khandwa Oils Unit I, certifying that Quality Management System and Food & Safety Management System are in accordance with requirements of ISO 9001:2008 and ISO 22000:2018 respectively with regards to manufacture, supply and export of soyabean products. Similarly, the Company possess ISO 22000:2018 certificate for the unit situated in Kheda, Itarsi and Halal India Certificate for Kheda unit and Khandwa Oils Unit I, certifying that certain soya products are in accordance with Shariah (Islamic) Board Guidelines. These certifications provide assistance to domestic and overseas customers for the quality and durability of its products as well.In 1988, the Company commenced their first Manufacturing Unit at Itarsi, Madhya Pradesh.In 1993-94, the Company commenced 2nd Manufacturing Unit at Khandwa, Madhya Pradesh.In 2004, the Company executed commissioning of I Wind Power Project of 1.25 MW at Nagda Hill, Dewas in Madhya Pradesh.In 2006, the Company executed commissioning of II Wind Power Project of 600Kv at Sangli, Maharashtra and III Wind Power Project of 1.25 MW at Nandurbar in Maharashtra.In 2007-08, the Company commenced 3rd Manufacturing Unit at Khandwa, Madhya Pradesh.In 2009-10, the Company crossed revenue of nearly Rs. 500 crores.In 2011, the Company executed commissioning of IV Wind Power Project of 1.5 MW at Jaisalmer, in Rajasthan.In 2012, , the Company acquired 45% stake in Raipur Mega Food Park Private Limited by allotting equity shares and it became the Associate Company.The Company made an Initial Public Offer of 65,84,000 Equity Shares by raising funds from public through equity aggregating to Rs 43.98 Crore in March, 2022.