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Richa Industries Ltd. Company History and Annual Growth Details

The Company was incorporated on 15th September 1993 under the
Companies Act, 1956 as a Private Limited Company and changed its
constitution as a Public Limited Company vide Special Resolution
passed on 12th September 2003 in the NCT of Delhi with the main
objective of carrying on the business of manufacturing and processing
of fabrics and export of fabric or garments.

Our Company was established under the leadership of Mr. Sushil Gupta
(M.Tech - IIT Delhi), in 1993 as a process house to cater to the needs
of exporter, knitted fabric for Indian market. Beginning as a small
establishment, with a small initial capital of Rupees 20 lacs, the company
has grown creating a niche for itself in the Northern India as a dyeing &
processing house for and export market.

Today, we have successfully placed our company in the fields of Greige
Knitted Fabric, Knitted fabric Dyeing & Processing, Garment
Manufacturing. We have two facilities one at Faridabad for dyeing &
processing and another state-of-the-art at IMT Manesar Gurgaon in the
outskirts of Delhi for knitting, dyeing and garment manufacturing.

The present Knitting capacity of our company is around 978 Tons per
annum wherein the present capacity utilization is around 89%. Dyeing &
processing capacity of our company is around 3600 Tons per annum
wherein the present capacity utilization is around 89%. The garment
division has a capacity to manufacturing 5,37,000 pieces per annum
and the present capacity utilization is around 88%.

Our company has taken initiatives towards the promotion and expansion
of quality dyeing so as to achieve international standards with the help of
highly technical & experienced manpower, latest technology & machines.
The strategy has also helped Richa Knits in firmly establishing itself in the
field of manufacturing & processing of knitted fabrics and manufacturing
of readymade garments.

Better relationship and proper coordination between the employer and
employee is the key factor for the success of our Company. By achieving
the skilled support from its manpower, our Company is ready to face any
kind of challenges that comes in the way of its growth.

Our company is known for its quality and service towards high-end
products. Our company has shown a growth rate of (CAGR) of over
60% over the period of last 5 years. Over the years our company's
turnover has grown from Rs. 3.70 crore in 2001 to Rs.26.28 crore in March
31, 2005 and further to Rs. 31.58 crore for the 9 months ended December
31, 2005.

Our company has firm policy and procedures to maintain its quality
standards at each and every stage. The sublime endeavor begins with the
purchasing of right kind of raw material and consumables.

The company also maintains a Design Studio, a library of designs and
labs for quality checks.

All the expansions till date have been financed from the internal accruals,
equity participation by the promoters and loans from Banks.

Major events of the company

Year Achievement

1993 Company incorporated in the name of Richa Knits Pvt.Ltd. for
manufacturing and dyeing and processing of fabrics, ready made

1994 Take over of partnership firm viz. Usha Processing Mill

2002 Our company started its operations of our Unit set up at IMT
Manesar in January 2002. When there was no infrastructure
available at Sector-7, IMT Manesar, ours was the first company to
start operations there. Today, IMTManesar is in great demand and
most of the MNCs are setting up their facilities. This can be seen from
the fact that Government has raised the rates from Rs.1200/- per sqr.
meters to Rs.2500/- per sqr. Meter for industrial plots.

2002 Our Company received first export order for USD 26,342 in June 2002
from Classique Enterprises Ltd. through Cortex Textile Trading and as on
31/03/2005 we had done exports to the tune of USD 1,195,374

2002 Our Garments Division started its operations in June 2002 with 46 stitching

2003 Our Company changed its constitution from private limited to public limited
company in September 2003..

2003 Udyog Patra Awarded to Mr. Sushil Gupta, Managing Director of our
company by Shri Sharad Yadav, the then Honble Union Minister for Food
& Supply, Government of India.

2004 Our Knitting Division started operating in February 2004 with 6 Circular
Knitting machines.
2004 20% rebate received by HSIDC on land as a subsidy in lieu of timely
completion of project & successful running of the unit on 23/04/2004.

2005 Expansion undertaken by our company till Dec. 2005:

A). Knitting Division - from 6 Machines to 8 Machines and addition of 3
Flat knitting machines.
B). Garment Division - from 46 stitching machines to 250 machines
C). Processing Division - from 8 ton to 12.80 Tons .

2005 Udyog Vibhushan Award to Mr. Sushil Gupta, Managing Director of our
company by Institute of Trade & Industrial Development.

2005 Launching of AVO-CADO brand from June 2005.

2005 First EBO Started at Faridabad in October 2005.

2005 Additional facility for AVO-CADO planned and premises taken on Long
term Lease

2005 EPCG Commitment fulfilled before time

License No. Dt. of Commitment Due Date Fulfillment
Issue Date

0530132309 13.11.2001 within 8
Years 12/11/2009 28/06/2004

0530135577 19.01.2004 within 8
Years 18/12/2012 22/03/2005

530137583 10/12/2004 within 8
Years 09/12/2012 25/07/2005

0530138168 04/03/2005 within 8
Years 03/03/2013 under Process

0530139550 16/09/2005 within 8
Years 15/09/2013 14/12/2005

2005 Second EBO Started at Gurgaon in December 2005.

2005 Land purchased for new project & project approved by IOB in principle

2006 Third EBO Started at Jaipur in January 2006

2006 Place for 4th & 5th EBO taken on long term lease in Delhi


-Company name has been changed from Richa Knits Ltd to Richa Industries Ltd.
Oct 21, 12:00 am
Oct 21, 4:14 pm
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