A-mazie-ing trader

TRAILBLAZER/ WHO DARES WINS

Close observers are hardly surprised by the rapid strides made by Ganpatraj L. Chowdhary, managing director, Riddhi Siddhi Gluco Biols Ltd, despite the modest start.

He's always had a belly for risks, calculated all right, and his innovative streak is apparent right at the start of his career. Soon after his graduation in 1963, he gets into maize trading "� armed with experience in raw material sourcing and finished goods marketing, he decides to set up his own unit.

In 1992, he promotes Riddhi Siddhi Starch and Chemicals Ltd, and sets up a corn milling unit at Viramgam near Ahmedabad in Gujarat. The rest, as they say, is breaking news:

The unit with initial milling capacity of 15,500 tpa, went into operation in 1994. I realised that the scope and market for starch derivatives is really taking off, so I initiated a forward integration programme.

Around that time, K.G.Gluco Biols Ltd, an integrated maize processing company to manufacture starch and value added derivatives for food and pharma sector, is set up by Glaxo India Ltd and State Government of Karnataka at Gokak.

I realised that it would make sense to deepen my inroads and I successfully bid for the takeover of this unit in 1996. The main object of this takeover was to utilize the hybrid maize grown by the farmers of Karnataka (largest maize producer) and maintain competitive edge on pricing of end products. Besides, we ended up with better infrastructure, technology and capability to produce value added down stream products.

Soon after, the name of the company changed to Riddhi Siddhi Gluco Biols Ltd (RSGBL), and we are the largest manufacturer of starch and its derivatives in the country. I think, our marketing skills helped us as the company enjoys continuous orders. We also foray into exports and have our presence in countries like Japan, Bangladesh, Srilanka, Bangkok, South East African and Middle East countries in a big way.

In early 2005, Hindustan Lever Ltd. decides to sell its bio-polymer division at Pondichery. This division produces special grade, value-added starch exclusive to paper industry (a closely guarded technology). We successfully bid for the unit and integrated it with the company in September 2005. This unit serves as our R&D platform.

Meanwhile, we have also set up a new plant for manufacturing modified starches for paper industry, at our its existing Gokak unit, which has a 12,000 tpa capacity.

RSGBL is also setting up a new plant at Uttranchal with maize crushing capacity of 1,65,000 tpa at a capex of Rs 110 crore that will go on stream early this year and will cater to food, confectionery and pharmaceutical industries.

It works well as many of our customers have also set up facilities in the same region. Today our range includes a variety of starch and its derivatives: liquid glucose, dextrose monohydrate, maltodextrin, dextrose syrup, high maltose corn syrup and the byproducts like corn gluten meal and enriched fiber.

The company's market share is expected to grow from around 17 per cent to 25 per cent in next two years. Our turnover as of March 2006 is Rs 248.20 crore and we are targetting a revenue of Rs 500 crore by 2008-09.

RSGBL is the largest wet milling plant in the country and our products are used in various applications by clients such as Glaxo, Nestle, Biocon, Heinz, Perfetti, Parle, Wockhardt, Lupin, Grasim, Bombay Dyeing and Cadbury's amongst 200 other companies.