Nagarjuna Agri Tech Ltd

Nagarjuna Agri Tech Ltd

Nagarjuna Agri Tech was incorporated as Nagarjuna Health Products Pvt Ltd in Nov.'87 to manufacture and deal in ayurvedic and herbal medicines. Till 1991 the company was into ayurvedic medicines on a leased land. Consequent to the Government's liberal economic policies and encouragement to floriculture the company decided to discontinue the manufacturing of herbal and ayurvedic medicines and ventured into the field of floriculture. The company was renamed as Nagarjuna Agri Tech Pvt Ltd in Apr.'94 and was subsequently converted into a public limited company in Jan.'95. It was promoted by K V L N Raju.The company set up a 100% EOU for cultivation and growth of 11.25 mln cutrose flowers pa in five green houses of one hectare each for export. To part-finance the project the company came out with a public issue of 4620000 equity shares of Rs 10 each for cash at par aggregating Rs 462 lac in Apr.'96. It has an agreement with Stockhorst Netherlands for technical assistance. For marketing its products outside India it has a marketing agreement with Florimex Holland. Company has direct market in Singapore Australia & Japan.Because of the Millenium the whole industry is going to have additional values in the auction & countries like Kenya Zimbabwe can send the flushes to the Holland auction houses in bigger quantites as demand for the flowers is going to be very high.