GUJARAT AMBUJA EXPORTS LT

Gujarat Ambuja Exports Limited (GAEL) incorporated in August 21, 1991 and promoted by Vijaykumar Gupta is an Agro Processing conglomerate and the pioneers in Maize products and Edible Oils, with various manufacturing plants in States of Gujarat, Maharashtra, Madhya Pradesh, Uttarakhand and Karnataka. The Company is at the forefront in offering a one-stop solution for ingredients to various Food, Pharmaceutical, and Animal Nutrition industries globally. Its products includes Solvent Extraction comprising of all types of Oil Seed Processing, Edible Oil Refining, Cotton Yarn Spinning, Maize based Starch and its derivatives, Wheat Processing / Cattle Feed and Power Generation through Wind Mills, Bio gas, Thermal Power & Solar Plant mainly for internal consumption. The Company came out with a public issue aggregating Rs.3.78 crores in April 1992. The issue was to part-finance a project for crushing castor seed, setting up a refinery and to meet working capital requirements. The company has formed a strong technical department to continuously monitor energy consumption and plan and execute energy conservation schemes. Effective steps are being taken for overall technological upgradation of the plant and machinery. The company's soya flakes plant commenced commercial production in Dec'95 and the vanaspati ghee project in the year 1996-97. During 1998-99, Gujarat Ambuja Cotspin and Gujarat Ambuja Proteins were amalgamated with the company. The company converted its two Solvent Extraction Plants at Kadi into 100% EOU. It also received ISO 9000 certification for the above two plants. The company has expanded the installed capacity of Solvent Extraction unit during the year 2000 by 30000 tonnes and with this expansion the total capacity has been increased to 450000 tonnes. The company continued its journey to growth. The Soya DOC exports won the company the coveted recognition of being Second Largest manufacturer Exporter in India based on the performance of 1999-2000.The exports of DOC have also registered tremendous growth during the year 2000-01. The amalgamation of the company with Jupiter Biotech Ltd was approved by the the Hon'ble High Court of Gujarat. The exchange ratio is fixed as 1:1. With effect from 30.01.2004, Jupiter Biotech Ltd was merged with the company. During the financial year 2005-06, the Company got into Windmill business and invested a sum of more than Rs. 16 Crores to set up 4 Windmills of the total installed capacity of 3.65 MW, which were set up in Gujarat, became operational & started generating wind energy. It modernized various equipments at the existing 100% EOU Cotton Yarn Mill. Simultaneously, it set up a whole range of plant & machineries for expansion by setting up of 13000 spindles which are capable of generating the production of Cotton Yarn of 13 tons per day. It carried out upgradation and modernization of equipments at the existing Maize Processing plant and thereby was able to debottle neck the plant to increase its production to 500 tons per day, the rated capacity of the plant. Thus, in all, the Company invested more than Rs. 74 Crores in new projects. It also disposed off old assets of gross block of Rs. 5 Crores, which were replaced during the year under consideration. The Company carried out upgradation of the facilities at the Maize Processing Division at Himatnagar by modernizing various sections including major critical equipments, Effluent Treatment Plants as well as equipments in the derivative section. Besides, investments were made in improving Micro Biological Laboratory & Quality Control Equipments, which improved operational performance of the division during the year 2006-07 under consideration. The Company got its product approved by many reputed FMCG and Multi national companies for Sorbitol, Malto Dextrine Powder, Dextrose Monohydrate, Liquid Glucose & Starches. It also improved utilities by re-engineering, modernizing and upgrading the Effluent Treatment Plants, Captive Power Plants and various critical equipments at its Solvent Division, Kadi in Gujarat, Pithampur in Madhya Pradesh & Akola in Maharashtra as well as Cotton Yarn Division at Himatnagar in Gujarat. During the financial year 2006-07, the Company further invested a sum of more than Rs. 15.83 Crores to set up 3 Windmills of the total installed capacity of 3.30 MW, which were operational & had started generating wind energy. With this investment, it presently has 7 windmills with total installed capacity of 6.95 MW, set up in Gujarat . The Maize Processing plant at Uttarakhand began its commercial production from March 27, 2008, which achieved more than 50% of capacity utilization. The unit also set up Biogas based captive power generation plant from liquid industrial waste in 2008. In 2009-10, the Company commenced operation at new solvent extraction and refinery at Mandsour in the State of Madhya Pradesh. It made investments in one more windmill which became operational during September 2009. It made further investment at Existing units of all segments for new plant and machinery, upgrading the technology and revamping the existing production facilities to increase the productivity and yield. In 2010-11, the Company completed projects of generating power from Bio Gas for its Corn processing units at Himatnagar & Sitarganj, installed Bio Gas Engine at both the units for power generation, put additional infrastructure for the bio gas generation at both the units, already began the generation of additional bio gas. During the year 2011-12, the Company completed the project to produce high value added derivatives i.e. Dextrose Anhydrate for both its corn processing units. Apart from these, it carried out modernization and improvements at all of its solvent extraction and refining projects. Apart from these, the lignite based power generation project was also put in place which started functioning from April 2012. In 2012-13, the Company commenced the commercial production of its 750 TPD new maize processing, derivatives and other value added products processing Unit in Haveri District in Karnataka. Apart from this, the 11 MW Cogeneration Power Plant also begun its operation at Village Dalpur, Himmatnagar and subsequently, the Company carried out routine modernization and improvements at all of its other manufacturing Units. It commissioned 100 TPD Edible Oil Refinery at Pithampur in Dec' 2013. The Company had one overseas wholly owned subsidiary as of March 31, 2015. The Board of Directors of the Company on 22nd May, 2015 had approved to disinvest the shareholding in Gujarat Ambuja International Pte. Ltd., the Wholly Owned Subsidiary of Company at Singapore and subsequently decided to close down the Subsidiary for winding up its affairs, which accordingly, discontinued the operations of the Subsidiary w.e.f. 31st December, 2015. The Company commenced the commercial operations of first phase of its 1000 MT per day green field Maize processing plant at Chalisgaon, in Maharashtra during 2017-18, which marked the completion of its first phase at an estimated cost of Rs. 260 crores. With this additional facility, the installed capacity for maize grinding reached to 3000 MT per day. During the year 2018-19, the Company invested about Rs. 85.12 crores in the ongoing projects. Out of this, it spent Rs 41.24 crores as routine capital expenditures in modifications of existing projects. This investment was for its maize processing units at all locations and agro processing segments. It started new green field project of 750 TPD Maize processing project at Malda in West Bengal. During the year 2019-20, the Company invested about Rs. 60.43 crores in the ongoing projects. Out of this, it spent Rs 36.81 crores as routine capital expenditures in modifications of existing projects. This investment was for its maize processing units at all locations and agro processing segments. It completed the execution of various derivative products manufacturing facility at Chalisgaon except for DAH, commenced its commercial operations and had so far spent Rs. 62.68 crores on this. During the year 2021-22, the Company invested about Rs 36.42 Crores in the ongoing projects mainly into routine capital expenditures in modifications/debottlenecking of existing plants for its maize processing units at all locations and agro processing segments. Apart from routine capital expenditures, it further invested Rs. 240.83 Crores in the new projects including Rs. 133.69 Crores towards green field project of 1000 TPD at Malda in West Bengal. During the FY 2022-23, the Company has invested about Rs 49.30 crores mainly in modifications of existing projects. This investment was for its maize processing units at all locations and agro processing segments. Apart from routine capital expenditures on the ongoing projects, the Company invested Rs 194.12 crores in the new projects including Rs 119.43 crores towards green field project of 1,200 TPD at Malda in West Bengal. The Company had acquired 100% equity shares of Mohit Agro Commodities Processing Private Limited, thereby making it as wholly owned subsidiary of the Company in 2023. During the FY 2022-23, the Company incorporated wholly owned subsidiary, Maiz Citchem Limited effective November 11, 2022.