Saptarishi Agro Industries Ltd Company Summary

Promoted jointly by R K Jajoo and K L Puri along with Tamil Nadu Industrial Development Corporation (TIDCO) in February, 1992, Saptarishi Agro Industries Limited has been a pioneer company set up in India for manufacturing Button Mushroom with a capacity of 3000 tonnes per annum (TPA). The Company is engaged in manufacturing of mushrooms and other allied agro based products and it has commenced trading business activities. Mushrooms are produced utilizing agricultural wastes..

The company has financial, technical and marketing collaborations with Dalcem Veciap Agro Industries, Holland. In 1993, the company came out with a public issue to part-finance the project to set up the Export Oriented Unit (EOU) at Madurantakam, Tamil Nadu. It started commercial production in June, 1994.Company had a very bad period during the year ended 31 March 2012.

Entire process of cultivation of Button Mushrooms was continued to be halted due to workers illegal strike and industrial disputes arising out of it. Due to the reason of non availability of adequate supply of electricity supply from Tamil Nadu Electricity Generation and Distribution Company Ltd, company could not venture in reconnection of its disconnected supply.Company faced a major labour unrest immediately after the stoppage of process of growing mushrooms. Companys workers went on illegal strike refusing the partial lay-off to some workers who had no work.

As a result of stoppage of production of mushrooms since February 2011, Company incurred a huge loss, factory is crippled with electricity disconnection, and pending repairs of its chillers & peripherals and, most importantly its transformers. However due to unavailability of uninterrupted electricity, recurring HR and IR issues, loss of peace and harmony in company premises as well as vicinity of its factory, etc have brought management to think to rest its activities of mushroom growing and allied works.Company is now set to enter the Frozen Fruits & Vegetables (FFV) market with the introduction of a new brand- FRAYTOZ. This venture is aimed at meeting the rising consumer demand for convenient, healthy, and high-quality food products.

All necessary regulatory approvals have been obtained, and preparations for the brand launch are already underway, with operations expected to commence shortly.