Riddhi Siddhi Gluco Boils Ltd, formerly known as Riddhi Siddhi Starch & Chemicals Limited, was established in July 1990. It transitioned into a public limited company in February 1992 and subsequently changed its name to its current designation in April of the same year. The company's primary operations include generating and selling power through windmills and engaging in the trading of agricultural and metal commodity items.
During the fiscal year 2011-12, the company divested its Corn Processing Business and strategically invested the proceeds from the sale into various treasury instruments to optimize returns on surplus or idle funds. In November 1993, the company conducted a public issue to partially finance a project aimed at establishing a manufacturing unit for starch and its by-products in Junapadhar, Gujarat. The product portfolio comprises maize starch powder, white dextrine, yellow dextrine, thin boiling starch, and oxidized starch, catering to industries such as food products, pharmaceutical formulations, packaging materials, textiles, among others.
By-products generated during the manufacturing process, including husk fiber, gluten, oil cake, and maize oil, are utilized in various ways. Husk fiber, gluten, and oil cake are marketed as cattle feed, while maize oil undergoes further refining to produce edible oil. The company also expanded downstream product capacity significantly by increasing the basic capacity of maize crushing and establishing a 6 MW Bio Mass-based Co-generation Power Plant at its Gokak unit during the 2001-02 fiscal year.
Furthermore, in 2007-08, the Viramgam unit's corn grinding capacity was expanded from 100 tpd to 250 tpd, and a new plant was commissioned in Rudrapur, Uttarakhand, with a corn grinding capacity of 1500 tpd, amounting to Rs 125 crore. Consequently, operations commenced at the Rudrapur unit, and the company's total corn grinding capacity reached 5 lakh tonnes per annum in 2008. Capacity expansion continued with enhancements at the Pantnagar Unit in Uttarakhand during 2009-10.
In 2010-11, the company commissioned a 7.65MW Wind Energy Plant in Tamil Nadu, Maharashtra, and Gujarat. The Scheme of Arrangement for Demerger and Transfer of Demerged Undertaking of the Company to Riddhi Siddhi Corn Processing Private Limited (RSCPPL) was effectively implemented on May 29, 2012, with the company's Corn Wet Milling business and associated assets and liabilities being transferred to RSCPPL as of October 1, 2011.
During the fiscal year 2011-12, the company divested its Corn Processing Business and strategically invested the proceeds from the sale into various treasury instruments to optimize returns on surplus or idle funds. In November 1993, the company conducted a public issue to partially finance a project aimed at establishing a manufacturing unit for starch and its by-products in Junapadhar, Gujarat. The product portfolio comprises maize starch powder, white dextrine, yellow dextrine, thin boiling starch, and oxidized starch, catering to industries such as food products, pharmaceutical formulations, packaging materials, textiles, among others.
By-products generated during the manufacturing process, including husk fiber, gluten, oil cake, and maize oil, are utilized in various ways. Husk fiber, gluten, and oil cake are marketed as cattle feed, while maize oil undergoes further refining to produce edible oil. The company also expanded downstream product capacity significantly by increasing the basic capacity of maize crushing and establishing a 6 MW Bio Mass-based Co-generation Power Plant at its Gokak unit during the 2001-02 fiscal year.
Furthermore, in 2007-08, the Viramgam unit's corn grinding capacity was expanded from 100 tpd to 250 tpd, and a new plant was commissioned in Rudrapur, Uttarakhand, with a corn grinding capacity of 1500 tpd, amounting to Rs 125 crore. Consequently, operations commenced at the Rudrapur unit, and the company's total corn grinding capacity reached 5 lakh tonnes per annum in 2008. Capacity expansion continued with enhancements at the Pantnagar Unit in Uttarakhand during 2009-10.
In 2010-11, the company commissioned a 7.65MW Wind Energy Plant in Tamil Nadu, Maharashtra, and Gujarat. The Scheme of Arrangement for Demerger and Transfer of Demerged Undertaking of the Company to Riddhi Siddhi Corn Processing Private Limited (RSCPPL) was effectively implemented on May 29, 2012, with the company's Corn Wet Milling business and associated assets and liabilities being transferred to RSCPPL as of October 1, 2011.
