Nagarjuna Agri Tech, initially known as Nagarjuna Health Products Pvt Ltd when it was established in November 1987, focused on the production and distribution of ayurvedic and herbal medicines. Until 1991, it operated in this sector on leased premises. However, following the liberalization of economic policies by the government and its encouragement of floriculture, the company decided to shift its focus away from herbal and ayurvedic medicines and towards floriculture. This transition led to the company's renaming to Nagarjuna Agri Tech Pvt Ltd in April 1994, followed by its conversion into a public limited company in January 1995. K V L N Raju was the driving force behind its promotion.
The company emerged as a pioneer in floriculture, specifically in the cultivation and sale of roses, both domestically and for export. It established a 100% Export Oriented Unit (EOU) dedicated to cultivating and producing 11.25 million cut-rose flowers annually across five greenhouses, each spanning one hectare, aimed primarily at the export market. To fund this project, the company issued 46,20,000 equity shares at a face value of Rs 10 each, amounting to Rs 462 lakh, in April 1996. Additionally, Nagarjuna Agri Tech secured technical assistance from Stockhorst, Netherlands, and entered into a marketing agreement with Florimex, Holland, to expand its reach beyond India. The company's products found direct markets in Singapore, Australia, and Japan.
Anticipating increased demand due to the approaching millennium, the industry as a whole was expected to experience a surge in auction values. Countries like Kenya and Zimbabwe were poised to capitalize on this demand by sending larger quantities of flowers to auction houses in Holland.
The company emerged as a pioneer in floriculture, specifically in the cultivation and sale of roses, both domestically and for export. It established a 100% Export Oriented Unit (EOU) dedicated to cultivating and producing 11.25 million cut-rose flowers annually across five greenhouses, each spanning one hectare, aimed primarily at the export market. To fund this project, the company issued 46,20,000 equity shares at a face value of Rs 10 each, amounting to Rs 462 lakh, in April 1996. Additionally, Nagarjuna Agri Tech secured technical assistance from Stockhorst, Netherlands, and entered into a marketing agreement with Florimex, Holland, to expand its reach beyond India. The company's products found direct markets in Singapore, Australia, and Japan.
Anticipating increased demand due to the approaching millennium, the industry as a whole was expected to experience a surge in auction values. Countries like Kenya and Zimbabwe were poised to capitalize on this demand by sending larger quantities of flowers to auction houses in Holland.
