Nagarjuna Finance introduced the unique concept of a financial supermarket in India. As a large company in the private sector and the largest finance company in Andhra Pradesh, NFL is committed to maintaining its leadership. It has diversified into leasing, hire purchase, bill discounting, merchant banking, capital market operations, stockbroking, consumer finance, and aquaculture. In 1991-92, NFL promoted Nagarjuna Securities, a 100% subsidiary, to take up stockbroking activities. It diversified into aquaculture through Nagarjuna Aqua Exports, a 100% subsidiary, set up to export marine products. NAEL is building up harvesting facilities scientifically with assistance from its technical consultants, CP, Taiwan. The company is a SEBI-approved category-I merchant banker, and was recently given in-principle approval to sponsor a mutual fund in the private sector. The company, for tapping local business opportunities, opened new branches at Godavari Khani and Mangalore. During 1998-99, the company acquired the manufacturing facilities of Sasya Rakshana Industries located at Nadigam, Shadnagar, Andhra Pradesh to set up a plant to manufacture Phorate - 10 % G and insecticide. The restoration of the undertaking comprising the business of manufacture and sale of pesticide to Vijayalakshmi Insecticides and Pesticides expected in the previous year was further delayed due the losses incurred in the current year 1999-2000.