HINDUSTAN AGRIGENETICS Share price

Hindustan Agrigencies Limited (HAL) was incorporated on 25.07.90with the Registrar of Companies Delhi & Haryana as a privatelimited company with its registered office in New Delhi andconverted into a public limited Company on 19.02.94 and obtainedthe fresh certificate of incorporation on 16.05.1994 with theobjective of positioning itself in the sunrise industry ofagriculture biotechnology.The Company commenced implementation of a tissue culture andhybrid seeds project at Hyderabad with a capital outlay of Rs.106Iakhs in 1990 with venture capital assistance of Rs.80 lakhsas Term Loan & Rs.6.5 lacs as equity capital from PCTC. Aftertrial production in early 1992 commercial production of hybridseeds was started in April 1992. At the same time the tissueculture project implementation and development of mothercultures were in progress. The tissue culture development work has been completed and trial exports have beensuccessful. Commercial production of tissue culture plantletscommenced in August 1994.PRESENT BUSINESSThe Company has set up a Tissue Culture & Hybrid Seeds Projecthaving an installed capacity of 3000 TPA of hybrid seeds and 2million tissue culture plantlets per annum. The Company hasavailed working capital limits of Rs.70 lakhs from State Bankof Hyderabad.HYBRID SEEDS is a technology driven business. Development ofsuperior hybrids through R&D is a pre-requisite for success. Astrong extention and field promotion programme is necessary totransfer the technology from lab to land.Trial production of seeds started in early 1992 and commercialproduction started from April 1992.Simultaneously research work on seeds was started. Using theexperience and expertise of Company''s research staff itdeveloped and introduced its own research hybrids in recordtime. The company today has proprietory hybrids in 6 crops vizSunflower Cotton Jowar Bajra Fodder Jowar and Tomato. TheCompany''s products (under the brand name "Supergene" and"Sahakar") are now recognised as quality seeds and are comparedwith those of large and established companies in the industry.The Company is operating in 9 states the major markets beingMaharashtra Karnataka Punjab Haryana and Rajasthan. TheCompany has a network of dealers in these states. The distributionis carried out through distributors located in districtheadquarters or preferred dealers located in mandi towns. Theyin turn distribute the Company''s seeds to retailers whofurther sell them to the farmers. The sale of Company''s seeds isalmost exclusively through private channels except forsupplies made to government departments or state seedcorporation.TISSUE CULTURE is a technology for cloning of plants. Success intissue culture business requires access to ''elite clones'' andhaving commercially viable technology for high multiplicationrates. A glass house is registered for hardening in-vitro plants.Tissue culture business is of recent origin in India. Itinvolves exporting ornamental plants to the West. There is also alarge market for horticulture plants like banana strawberriesand forestry in India.The Company has successfully developedindigenous technology for producing different varieties ofornamental plants like syngonium orchids chrysanthemumspathyphylum etc and horticulture plants like strawberrygrapes and bananas through tissue culture techniques. Theseproducts are presently under test marketing. Trial consignmentshave already been exported to parties in Spain Belgium Hollandand USA from whom favourable feedback has been received. Thecommercial sales of plantlets developed through tissue culturecommenced in August 1994.MAIN OBJECTS OF THE COMPANYThe main objects of the Company as set out in Memorandum andArticles of Association of the Company are:1) To establish and carry on the business as researchersdevelopers traders dealers agents importers exportersdistributors representatives or otherwise in respect of thefollowing products:a) Know-how patents and products of biotechnology and geneticengineering research and development in the field ofagriculture tissue culture and its metabolites aquaculturesericulture pisciculture and marine animal and other producecovered and understood by the term agriculture.b) Products which serve as any type of agricultural input suchas pesticides (biological or chemical or any other type)fertilisers nutrients seeds feeds weedicides fungicides andimplements used for agriculture and agricultural outputs processedor other wise.2) To establish maintain conduct and operate researchestablishments centres for dissemination of knowledge andtechnical advisory service for the purposes of agriculture inparticular and biology and other frontiers of science with aview of evaluating developing improving modifying ordiscovering new agricultural inputs.SUBSIDIARIESThere are no companies which are subsidiary to this company andthe promoters have not promoted any other company.