KRBL (company)
| Company type | Public |
|---|---|
| NSE: KRBL BSE: 530813 | |
| Industry | Rice |
| Founded | 1889 in Lyallpur, Punjab, British India |
| Founders | Khushi Ram Behari Lal[1] |
| Headquarters | , India |
Area served | Worldwide |
Key people | Anil Mittal (Chairman and Managing Director) |
| Revenue |  ₹4,014 crore (US$480 million) (FY 2020-21)[2] |
 ₹566 crore (US$68 million) (FY 2020-21)[2] | |
| Website | www |
KRBL Limited is an Indian rice processing and exporting company, and the world's largest rice miller. It is best known for its India Gate brand of basmati rice, which is the largest selling rice brand in India.[1][3][4][5] The company have 4000 employees and exports rice to over 80 countries;[6] about 75% of its export revenue comes from the Middle East countries, as of 2018.[7]
History
KRBL was founded in 1889 in Lyallpur by two brothers–Khushi Ram and Behari Lal; the company name is an acronym of their names. Initially set up as a cotton-spinning business, it also had business interests in edible oil, wheat and rice. After the partition of India, the family settled in Delhi and worked as trade agents of rice and oil in the city's Naya Bazaar area. By the 1970s, KRBL was producing only rice, and supplying to local exporters such as Zee Group. The company began exporting rice in 1985 and set up its first rice manufacturing unit in Ghaziabad in 1992. In 1995, KRBL issued its initial public offering. In 1998, the company launched India Gate rice brand in the Indian market. It started operations at its second plant in Alipur, Delhi in 1998 and Gautam Buddh Nagar plant in 2001.[1][8][9]
In 2003, KRBL became the first Indian rice company to receive foreign investment, and three years later, it issued GDR of US$13 million. In 2003, KRBL acquired a 65-acre rice processing, grading and packaging plant near Dhuri for ₹15.8 crore through a court auction. The facility became the largest rice milling plant in the world after a ₹200 crore upgrade.[10][11] In 2016, it started operating from its fourth plant in Sonipat district.[12]
Controversy
The company was named in a chargesheet filed by the Enforcement Directorate (ED) in December 2020 in relation to a money laundering case linked with Embraer.[13] In January 2021, the ED arrested KRBL's joint managing director Anoop Kumar Gupta in connection to the AgustaWestland bribery scandal.[14]
See also
References
- ^ a b c "Returns On Rice: The Making Of India's Biggest Basmati Exporter". Forbes India. Retrieved 6 December 2020.
- ^ a b "Q4 FY2021 Financial Results" (PDF). KRBL. Retrieved 26 October 2021.
- ^ Mitra, Sounak (7 July 2017). "India's largest selling rice brand is now a zero-tax product". mint. Retrieved 6 December 2020.
- ^ "Indian rice miller eyes expansion as Gulf demand grows". Arabian Business. Retrieved 6 December 2020.
- ^ "India's Pride". Outlook Business. Retrieved 6 December 2020.
- ^ "KRBL Ltd". Business Standard India. Retrieved 6 December 2020.
- ^ Mathew, James (11 October 2018). "New Indian products from KRBL set to hit UAE shelves". Arabian Business. Retrieved 6 December 2020.
- ^ Modi, Ajay (16 November 2017). "India gets its first basmati billionaire family". Business Standard India. Retrieved 6 December 2020.
- ^ "Anil Mittal has played a key role in transforming basmati trade". Business Today. Retrieved 6 December 2020.
- ^ "KRBL bets on plant upgrade for growth". The Telegraph. Retrieved 6 December 2020.
- ^ "Adding a regional flavour". Business India. Retrieved 6 December 2020.
- ^ "KRBL Ltd commences new Grading, Sorting and Packaging plant at Akbarpur Barota, Distt. Sonipat". EquityBulls. 27 July 2016. Retrieved 11 June 2021.
- ^ Sonavane, Ravindra N. (10 December 2020). "KRBL slips 6% as ED names company in chargesheet in Embraer deal". mint. Retrieved 26 October 2021.
- ^ "ED arrests Joint MD of rice export firm KRBL in AgustaWestland scam". Hindustan Times. 30 January 2021. Retrieved 11 June 2021.