Richa Industries Ltd Company Summary

Richa Industries Ltd Summary

Richa Industries Limited was incorporated on September 15, 1993 as a private limited company Richa Knits Pvt Ltd. In 1994, the company took over the partnership firm, Usha Processing Mill. On September 12, 2003, the Company was converted into a public limited company and the name was changed to Richa Knits Ltd. In 2007-08, the Company changed their name from Richa Knits Ltd to Richa Industries Ltd.Richa Industries is a leading manufacturing company operational in Pre-Engineered Building, EPC (Engineering, Procurement & Construction) and Textile sectors. Richa Industries is the first PEB Company to be certified for OHSAS 18001:2007 by IRQS in 2016. Richa is one of the fastest growing companies functioning in the northern part of the country. The company has reputed clientele enriched with government as well as private clients.The Company is a recognized player in the textile sector and a new aspirant in the field of Pre Engineered Buildings. The company is engaged in manufacturing of Knitting, Processing, Dyeing & Special Finishing of Fabrics. They operate two business segments, namely manufacture in textiles and manufacturer of pre-engineering buildings.The company has textile manufacturing units based in Gurgaon and Faridabad in the state of Haryana. The corporate office of the company is also located at Faridabad. They have set up a new Pre Engineered Buildings project at Kashipur, Uttarakhand.The company was established with the object of carrying on the business of manufacturing and processing of fabrics and export of fabric or garments. In January 2002, the company started their operations in their Unit set up at IMT Manesar. In June 2002, they received first export order from Classique Enterprises Ltd. through Cortex Textile Trading. Also, their Garments Division started their operations with 46 stitching machines.In February 2004, the company commenced operation in their Knitting Division with 6 Circular Knitting machines.In November 2005, the company added 1000 TPA in Dyeing & Processing segment taking the total installed capacity to 4200 TPA. In December 2005, they added a capacity to manufacture 500000 pcs p.a. in the Garmenting Segment, taking the total installed capacity to 900000 pcs p.a.During 2006-07, the company came out with the initial public issue and their shares were listed on the Bombay Stock Exchange Ltd with effect from December 12, 2006. The company sold and disposed off their units located at DLF Industrial Area, Faridabad. In September 2007, the company set up a new plant at Faridabad in Haryana and commenced commercial operations. Also, they formed a subsidiary company, namely Richa Infrastructure Ltd for undertaking specific business activities, which ceased to be a subsidiary company in 2008-09.During FY 2009-10, the Company set up a new Pre Engineered Buildings (PEBs) project at Kashipur, Uttarakhand and made it fully operational.