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Usher Agro Ltd. Company History and Annual Growth Details

The Company was incorporated as Usher Agro Limited on June 20,
1996 with Registrar of Companies, Maharashtra. The certificate for
commencement of business was received on July 04, 1996. Our
Company was formed with the main object of manufacturing and
processing in agro-based products and to deal in, trade, export or
import such products. We entered the Food Processing Sector by
setting up our first Rice Milling Plant at Mathura (U.P). We have
successfully completed the project and run the unit efficiently and
have earned profit in the very first year of our operation.

Encouraged by the result of the first plant, in the year 1998-99 we
expanded our milling capacity by setting up another unit in Mathura
at the same location. We have been operating in the agro sector
for the last 10 years and our sales have grown from Rs. 101 lacs in
the first financial Year i.e. 96-97 to Rs 3316 lacs in the year 2004-05
and 3515.56 lacs for the period of eleven months ending 31st May
2006. The Profit of our company has also increased manifold during
the same period; from Rs. 3.01 lacs in 1996-97 to Rs. 98.13 lacs in
the year 2004-05 and 145.33 lacs for the period of eleven months
ending 31st May 2006.

Our Company has set up another rice milling plant at Buxar (Bihar), a
rich paddy cultivating area. The Buxar project has commenced
commercial production during November 2003. This has enabled us
to commit substantial quantities to the prospective buyers. These have
also enabled the Company to scale up the operations and save on
transport cost because it could dispatch its product by goods train.

Though the Government is one of the major customers, however, in
terms of percentage private wholesalers form major part of the total
sales. At present, we are selling our products to wholesalers, big
purchasers etc. under the brand name of RASOI RAAJA, we have
received a certificate of registration of Trade Mark.

We had filed the draft prospectus with SEBI for raising Equity Share
Capital of Rs. 760 lacs @ Rs. 10/- per share on October 8, 2003.
Before receiving Final Observation from SEBI, there were further
developments in the business plans of our Company, therefore we
decided not to proceed with the said issue and withdrew the
draft prospectus from SEBI as on July 11,2005.

Looking into favorable growth in food processing industry we planed
to enter in wheat product segment also. As there were changes in the
objects of the issue we have now refiled this prospectus.

Major events in the history of our Company since inception

Year Key events, milestones and achievements

1996 Commenced Small Rice Milling operation at Mathura
1998 Second Rice Milling Plant started operations at the existing site
at Mathura
2003 State of the Art Modern Rice Milling plant at Buxar (Bihar), with
the financial assistance from IDBI, started commercial production
2004 We have received certificate from Eastern Central railway
department through its goods shed supervisor, Buxar Station (Bihar)
to be the first Company to have loaded Full Rake (40 Wagons)
of our products from the Buxar Railway station

We have received certificate from Regional Food Controller, Agra
region, under Food and civil Supply Department of U.P. State
Government for supplying maximum Rice under Levy Scheme
to the State Government.

Obtained ISO 9001:2000 Certificate from IIC Korea.
2005 Obtained HACCP (Hazard Analysis and Critical Control Point)
Certificate from IIC Korea

Company’s Brand "RASOI RAAJA" got registration from Trade Mark


- IDBI Capital offers safety net scheme in Usher Agro's IPO.


- Mr. Pandoo Naig is appointed as an Additional Director on the Board.

-Registered Office of the Company has been shifted From C-617, Hilton Tower, Pump House, Andheri (East), Mumbai To 212, Building No. 9, Laxmi Plaza, Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai.


- The Board has recommended a Final Dividend of Re 0.25 per equity share.


- Usher Agro eyes Rs 1k crore turnover in two years.


- Usher Agro enhances rice milling capacity.

- Usher Agro - Signs an MOU with NBHC.

- Usher Agro - Signs MOU with US based Company.

- The Board has recommended the dividend of Rs. 1.50/- per share (15%).

-Registered Office of the Company has been shifted From 212, Laxmi Plaza , Laxmi Industrial Estate, New Link Road, Andheri (W), Mumbai -400053 To 422, Laxmi Plaza, Laxmi Industrial Estate, New Link Road, Andheri (W), Mumbai -400053.


- The Board has rcommended the Dividend of Rs 1.50/- per share (15%).

- Mrs. Sarika S. Singh is apointed as Company Secretary of the company.

- FMO finances world's first commercial scale "green" silica extraction plant