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Graintec India Ltd.

BSE: 519158 Sector: Others
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Graintec India Ltd
NSE 05:30 | 01 Jan Graintec India Ltd

Graintec India Ltd. (GRAINTECINDIA) - Company History

Graintec India Ltd (GIL)(formerly Agro Tech India (ATIL)), is a JV company promoted by Kewal S Dhillon and Punjab Agro Industries Corporation (PAIC), a state government undertaking to set up an integrated paddy processing complex at Budhewal (Ludhiana), Punjab. The manufacturing facilities include, among others, a 40-tph Moder rice mill to shell paddy and produce rice, rice bran and husk; production of 30,000 tpa each of cattle feed and vanaspati ghee; and processing of 20,000 tpa rice bran oil and de-oiled cakes. ATIL markets its products such as rice, vanaspati ghee and cattle feed under its own brand name. The remaining products are used captively by the company. Edible oil produced by the rice bran oil plant is used in the vanaspati plant and de-oiled cake is used in the cattle feed plant. The company has entered into an agreement with the Food Corporation of India (FCI) for the sale of its products. Nearly 30% of the milling capacity of the rice mill is used by FCI and 75% of the rice produced is delivered to FCI and other state government agencies. The company exports quality rice and cattle feed. The company which was declared sick by BIFR in 1995-96 continues to be a sick company under SICA act and IFCI was appointed as operating agency. The company has inked an agreement with PEPSI for milling of basmati on custom basis in FY 2002-03.