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Noel Agritech Ltd.

BSE: 526789 Sector: Others
NSE: N.A. ISIN Code: INE154C01013
BSE 05:30 | 01 Jan Noel Agritech Ltd
NSE 05:30 | 01 Jan Noel Agritech Ltd

Noel Agritech Ltd. (NOELAGRITECH) - Company History

Incorporated on 11 Jan.'94, Noel Agritech was promoted by Mohan Bangera, N M Shah and U V Rao. The company is engaged in floriculture. It produces, processes and markets all types of flowers for the domestic and international markets. The company came out with a public issue in Jan.'95 to part-finance the cost of setting up a floriculture unit at Moodabidri (South Kanara district), Karnataka. It has entered into an agreement with Dalsem Kassenbouw, Holland, for supply, erection and commissioning of the greenhouses as also for imparting training to the company's personnel in the management and maintenance of greenhouses. The company has also entered into an agreement with Avo Anthurium Vogels, Holland, one of the leading anthurium breeding companies of Europe, for the supply of planting material and technology for the anthurium project. Anthurium, one of the expensive cut flowers, has a long vase life. Japan, the US and Germany are the important countries which import large quantities of anthurium. Cultivation and use of flowers have become an integral part of our heritage and culture. The most popular flowers are jasmine, chrysanthamum, rose, gladoli, marigold and aster. The company has completed the installation of a greenhouse for the floriculture project. Apart from the auction house in Holland, alternate international marketing channels in Europe, west Asia and Japan are proposed to be developed. In 1995-96, sales turnover of the company amounted to Rs 0.06 cr and incurred a loss of Rs 0.41 cr during the year due to delay in commencement of commercial production. During 1996-97, the company planned for expansion by putting up an additional greenhouse at the project site, as a 2nd phase of the project. The company has adopted and kept abreast of the latest technology in floriculture with the support of its foreign collaborators M/s Dalsem Kassenbuow, BV Holland. The floriculture project is undertaken under Greenhouse technology which is ideal for optimum growth of Anthurium flowers.