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History of Richa Industries Ltd.

The Comp. was incorporated on 15th September 1993 under the Companies Act, 1956 as a Private Limited Comp. & changed its constitution as a Public Limited Comp. vide Special Resolution passed on 12th September 2003 in the NCT of Delhi with the main objective of carrying on the business of manufacturing & processing of fabrics & export of fabric or garments.

Our Comp. was established under the leadership of Mr. Sushil Gupta [M.Tech - IIT Delhis], in 1993 as a process house to cater to the needs of exporter, knitted fabric for Indian market. Beginning as a small establishment, with a small initial capital of Rupees 20 lacs, the Comp. has grown creating a niche for itself in the Northern India as a dyeing and processing house for & export market.

Today, we have successfully placed our Comp. in the fields of Greige Knitted Fabric, Knitted fabric Dyeing and Processing, Garment Manufacturing. We have two facilities one at Faridabad for dyeing and processing & another state-of-the-art at IMT Manesar Gurgaon in the outskirts of Delhi for knitting, dyeing & garment manufacturing.

The present Knitting capacity of our Comp. is around 978 Tons per annum wherein the present capacity utilization is around 89%. Dyeing and processing capacity of our Comp. is around 3600 Tons per annum wherein the present capacity utilization is around 89%. The garment division has a capacity to manufacturing 5,37,000 pieces per annum and the present capacity utilization is around 88%.

Our Comp. has taken initiatives towards the promotion & expansion of quality dyeing so as to achieve international standards with the help of highly technical and experienced manpower, latest technology and machines. The strategy has also helped Richa Knits in firmly establishing itself in the field of manufacturing and processing of knitted fabrics & manufacturing of readymade garments.

Better relationship & proper coordination between the employer & employee is the key factor for success of our Company. By achieving the skilled support from its manpower, our Comp. is ready to face any kind of challenges that comes in the way of its growth.

Our Comp. is known for its quality & service towards high-end products. Our Comp. has shown a growth rate of [CAGRs] of over 60% over the period of last 5 years. Over the years our company turnover has grown from Rs. 3.70 crore in 2001 to Rs.26.28 crore in March 31, 2005 & further to Rs. 31.58 crore for 9 months ended December 31, 2005.

Our Comp. has firm policy & procedures to maintain its quality standards at each & every stage. The sublime endeavor begins with the purchasing of right kind of raw material & consumables.

The Comp. also maintains a Design Studio, a library of designs & labs for quality checks.

All the expansions till date have been financed from the internal accruals, equity participation by promoters & loans from Banks.

Major events of company

Year Achievement

1993 Comp. incorporated in the name of Richa Knits Pvt. limited for manufacturing & dyeing & processing of fabrics, ready made garments

1994 Take over of partnership firm viz. Usha Processing Mill

2002 Our Comp. started its operations of our Unit set up at IMT Manesar in January 2002. When there was no infrastructure available at Sector-7, IMT Manesar, ours was the first Comp. to start operations there. Today, IMTManesar is in great demand & most of MNCs are setting up their facilities. This can be seen from the fact that Government has raised the rates from Rs.1200/- per sqr. meters to Rs.2500/- per sqr. Meter for industrial plots.

2002 Our Comp. received first export order for USD 26,342 in June 2002 from Classique Enterprises limited through Cortex Textile Trading & as on 31/03/2005 we had done exports to the tune of USD 1,195,374 [approx.s]

2002 Our Garments Division started its operations in June 2002 with 46 stitching machines.

2003 Our Comp. changed its constitution from private limited to public limited Comp. in September 2003..

2003 Udyog Patra Awarded to Mr. Sushil Gupta, Managing Director of our Comp. by Shri Sharad Yadav, the then Hon'ble Union Minister for Food and Supply, Government of India.

2004 Our Knitting Division started operating in February 2004 with 6 Circular Knitting machines. 2004 20% rebate received by HSIDC on land as a subsidy in lieu of timely completion of project and successful running of unit on 23/04/2004.

2005 Expansion undertaken by our Comp. till Dec. 2005:

As]. Knitting Division - from 6 Machines to 8 Machines & addition of 3 Flat knitting machines. Bs]. Garment Division - from 46 stitching machines to 250 machines Cs]. Processing Division - from 8 ton to 12.80 Tons .

2005 Udyog Vibhushan Award to Mr. Sushil Gupta, Managing Director of our Comp. by Institute of Trade and Industrial Development.

2005 Launching of `AVO-CADO' brand from June 2005.

2005 First EBO Started at Faridabad in October 2005.

2005 Additional facility for AVO-CADO planned & premises taken on Long term Lease

2005 EPCG Commitment fulfilled before time

License No. Dt. of Commitment Due Date Fulfillment Issue Date

0530132309 13.11.2001 within 8 Years 12/11/2009 28/06/2004

0530135577 19.01.2004 within 8 Years 18/12/2012 22/03/2005

530137583 10/12/2004 within 8 Years 09/12/2012 25/07/2005

0530138168 04/03/2005 within 8 Years 03/03/2013 under Process

0530139550 16/09/2005 within 8 Years 15/09/2013 14/12/2005

2005 Second EBO Started at Gurgaon in December 2005.