Richa Industries Ltd is a recognized player in the textile sector and a new aspirant in the field of Pre Engineered Buildings. The company is engaged in manufacturing of Knitting, Processing, Dyeing & Special Finishing of Fabrics. They operate two business segments, namely manufacture in textiles and manufacturer of pre-engineering buildings.
The company has textile manufacturing units based in Gurgaon and Faridabad in the state of Haryana. The corporate office of the company is also located at Faridabad. They have set up a new Pre Engineered Buildings project at Kashipur, Uttarakhand.
Richa Industries Ltd was incorporated on September 15, 1993 as a private limited company Richa Knits Pvt Ltd. The company was established with the object of carrying on the business of manufacturing and processing of fabrics and export of fabric or garments. In the year 1994, the company took over the partnership firm, Usha Processing Mill.
In January 2002, the company started their operations in their Unit set up at IMT Manesar. In June 2002, they received first export order from Classique Enterprises Ltd. through Cortex Textile Trading. Also, their Garments Division started their operations with 46 stitching machines.
In September 12, 2003, the company was converted into a public limited company and the name was changed to Richa Knits Ltd. In February 2004, the company commenced operation in their Knitting Division with 6 Circular Knitting machines.
In November 2005, the company added 1000 TPA in Dyeing & Processing segment taking the total installed capacity to 4200 TPA. In December 2005, they added a capacity to manufacture 500000 pcs p.a. in the Garmenting Segment, taking the total installed capacity to 900000 pcs p.a.
During the year 2006-07, the company came out with the initial public issue and their shares were listed on the Bombay Stock Exchange Ltd with effect from December 12, 2006. The company sold and disposed off their units located at DLF Industrial Area, Faridabad. In September 2007, the company set up a new plant at Faridabad in Haryana and commenced commercial operations.
During the year 2007-08, the company changed their name from 'Richa Knits Ltd' to 'Richa Industries Ltd'. Also, they formed a subsidiary company, namely is Richa Infrastructure Ltd for undertaking specific business activities. During the year 2008-09, Richa Infrastructure Ltd ceased to be a subsidiary company.
During the year 2009-10, the company entered into new segment of Pre-Engineered Metal Building Products (PEB). They set up a new plant for manufacturing of Pre Fabricated Steel Sheets at Kashipur in Uttarakhand and commenced commercial operations from June 2009.
The company decided to expand the existing production capacity of Pre Engineered Buildings by 1250 tons per month at Kashipur, Uttarakhand. The estimated cost of expansion of project is Rs 3053.69 lakh.