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History of Hindustan Agrigenetics Ltd.

Hindustan Agrigencies Limited [HALs] was incorporated on 25.07.90 with the Registrar of Companies, Delhi and Haryana as a private limited Comp. with its registered office in New Delhi & converted into a public limited Comp. on 19.02.94 & obtained the fresh certificate of incorporation on 16.05.1994 with the objective of positioning itself in the sunrise industry of agriculture biotechnology.

The Comp. commenced implementation of tissue culture & hybrid seeds project at Hyderabad with a capital outlay of Rs.106 Iakhs in 1990, with venture capital assistance of Rs.80 lakhs as Term Loan and Rs.6.5 lacs as equity capital from PCTC. After trial production in early 1992, commercial production of hybrid seeds was started in April 1992. At the same time the tissue culture project implementation & development of mother cultures were in progress. The tissue culture development work has been completed & trial exports have been successful. Commercial production of tissue culture plantlets commenced in August 1994.

PRESENT BUSINESS

The Comp. has set up a Tissue Culture and Hybrid Seeds Project having an installed capacity of 3000 TPA of hybrid seeds & 2 million tissue culture plantlets per annum. The Comp. has availed working capital limits of Rs.70 lakhs from State Bank of Hyderabad.

HYBRID SEEDS is a technology driven business. Development of superior hybrids through R&D is a pre-requisite for success. A strong extention & field promotion programme is necessary to transfer the technology from lab to land.

Trial production of seeds started in early 1992 & commercial production started from April 1992.

Simultaneously research work on seeds was started. Using the experience & expertise of Company research staff, it developed & introduced its own research hybrids in record time. The Comp. today has proprietory hybrids in 6 crops viz Sunflower, Cotton, Jowar, Bajra, Fodder Jowar & Tomato. The Company products [under the brand name 'Supergene' & 'Sahakar's] are now recognised as quality seeds & are compared with those of large & established companies in the industry. The Comp. is operating in 9 states, the major markets being Maharashtra, Karnataka, Punjab, Haryana & Rajasthan. The Comp. has a network of dealers in these states. The distribution is carried out through distributors located in district headquarters or preferred dealers located in mandi towns. They in turn, distribute the Company seeds to retailers who further sell them to the farmers. The sale of Company seeds is almost exclusively through private channels except for supplies made to government departments or state seed corporation.

TISSUE CULTURE is a technology for cloning of plants. Success in tissue culture business requires access to 'elite clones' & having commercially viable technology for high multiplication rates. A glass house is registered for hardening in-vitro plants.

Tissue culture business is of recent origin in India. It involves exporting ornamental plants to the West. There is also a large market for horticulture plants like banana, strawberries & forestry in India.

The Comp. has successfully developed indigenous technology for producing different varieties of ornamental plants like syngonium, orchids, chrysanthemum, spathyphylum, etc, & horticulture plants like strawberry, grapes, & bananas through tissue culture techniques. These products are presently under test marketing. Trial consignments have already been exported to parties in Spain, Belgium, Holland & USA from whom favourable feedback has been received. The commercial sales of plantlets developed through tissue culture commenced in August 1994.

MAIN OBJECTS OF THE COMPANY

The main objects of Comp. as set out in Memorandum & Articles of Association of Comp. are:

1s] To establish & carry on the business as researchers, developers, traders, dealers, agents, importers, exporters, distributors, representatives or otherwise in respect of following products:

as] Know-how, patents & products of biotechnology & genetic engineering, research & development in the field of agriculture, tissue culture & its metabolites, aquaculture, sericulture, pisciculture & marine, animal & other produce covered & understood by term agriculture.

bs] Products which serve as any type of agricultural input such as pesticides [biological or chemical or any other types], fertilisers, nutrients, seeds, feeds, weedicides, fungicides & implements used for agriculture & agricultural outputs processed or other wise.

2s] To establish, maintain, conduct & operate research establishments, centres for dissemination of knowledge & technical advisory service for purposes of agriculture in particular & biology & other frontiers of science with a view of evaluating, developing, improving, modifying or discovering new agricultural inputs.

SUBSIDIARIES

There are no companies which are subsidiary to this Comp. & the promoters have not promoted any other company.