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Micro Plantae Ltd.

BSE: 500276 Sector: Others
NSE: MICROPLANT ISIN Code: N.A.
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
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Micro Plantae Ltd. (MICROPLANT) - Company History

Incorporated on 13 Jul.'89 as a private company, Micro Plantae (MPL) was converted into a public company on 31 Jan.'92.It was promoted by Vijay Kumar, Vinit Kumar and Vinay Kumar. It came out with a public issue in Dec.'93 to part-finance its Rs 5.93-cr project for plant tissue culture and to micro-propagate a variety of plant species. The facilities situated 25 km from Pune have a delivery capacity of 5.7 million plants and occupy 16,000 sq ft, with an additional 6000 sq ft service floor area.The company has entered into a technical collaboration with Novalal, UK, for technology and use of basic engineering, and design of facilities for plant tissue culture. The greenhouse imported from the US incorporates various climatic controls and other devices. Biotech Consortium India (BCIL) has signed an MoU with MPL whereby the latter will be treated as an exclusive licensee of tissue culture technology.Tissue culture units serve various other industries such as horticulture, floriculture, oilseed plants and medicinal plants. MPL also produces plantlets such as ficus, syngonium and calathea which are ornamental plants. The project was commissioned in Sep.'93. It exports about 80% of its produce to Dubai, the UK, Europe and srael. There stood at Rs 3.18 cr in 1994-95. The company has bought patent rights from Kemira Biotech, Finland, for the cut Gerbera flowers, and from Phytotech Australia Pvt Ltd and CSIRO (Government of Australia) for producing their patented black seedless grapes. It also has a tied-up with Terra Nigra, a Dutch company, for marketing their cut Gerbera flowers in India. From Apr.'95, MPL has implemented expansion of tissue culture facility from 5.7 mln to 10 mln plantlets pa. It has a joint venture with Punjab Agro Industries to set up a tissue culture facility of 7 mln plantlets pa at Chandigarh. In Jan.'96, the company took over Temptation Foods, the Pune-based, Rs 12-cr food processing unit.