Aries Agro Ltd has informed BSE that the Company has been conferred the CNBC Emerging India Award 2008 in the FMCG, Food and Agri-based business, at a function held in London on July 08, 2008.
With more than 3,00,000 enterprises in the fray. The Emerging India Award is India’s Biggest Business Award and is the last word on best performing SMEs, India’s dynamic new growth drivers. Chosen after a robust 3 phase methodology, powered by CRISIL.
With reference to earlier announcement dated May 20, 2008, regarding Board Meeting scheduled to be held on May 28, 2008, to approve audited financial results of the Company for the Year ended March 31, 2008 and also to consider recommendation of dividend to the share holders, Aries Agro Ltd has further informed BSE that at the said Board meeting, the Board would consider the agenda item on declaration of dividend. The Company to postpone the approval of audited financial statements for the year ended March 31, 2008.
Aries Agro Ltd has informed BSE that the Company has inaugurated its new plant at Pashamylaram, Patancheru, Dist. Medak Andhra Pradesh on March 24, 2008.
In this regard the Company has issued the following Press Release:
“A specialty Micronutrient Company Aries Agro Ltd is responding to growing needs of Indian farmers with the opening of a new manufacturing unit for secondary and micronutrients as well as water soluble major fertilizers. Aries has invested Rs 245 lakhs (excluding land cost) into the new plant, which open’s today and will serve over three million farmers across the different states in Andhra Pradesh, Chattisgarh, Madhya Pradesh, Tamil Nadu, Karnataka and Orissa.
Micronutrient usage in India is increasing because farmers have realized the need for balanced fertilization with secondary and Micronutrients. There is significant rise in awareness about the potential and economic benefits of using secondary and Micronutrients amongst Indian Farmers and they are looking out for options which can increase their productivity. Aries today provides the largest and most comprehensive range of specialty plant nutrients to the farmers of India.
Speaking on the occasion, Dr. Rahul Mirchandani, Executive Director, the Company, said “We are proud that Aries has created history today with the opening of this new manufacturing unit which has the capacity to produce single dose self dissolving environmentally sensitive sachets for our largest selling brands. This Unit pack will eliminate the use of plastics and aluminum foil and would be affordable even for farmers with small and marginal land holdings.” The factory is also fully automated and uses 100% indigenous technology. “It is with immense pride that we would like to tell the world that not a single part of the equipment in this factory is imported. Ours is a 100% Indian factory that produces world class specialty plant nutrition solutions”, he added.
The new manufacturing facility is located at Pashamylaram, Patancheru, Dist. Medak, Andhra Pradesh, is the largest and state-of-the-art Unit of the Company. It is also the largest manufacturing unit in India for micronutrients, mainly dedicated for manufacturing two flagship brands, namely, ‘Aries Agromin Max’ and ‘Aries Chelamin’.
The total constructed area is 24,000 square feet, and in addition to the existing capacity of 21600 TPA, this unit will add further 32400 TPA. The facility will also be engaged in the packaging of other major brands including Macrofert, Boron 20 and Fertimax with a packing capacity of 9 million pouches per year.
In fiscal year 2008-09, Company plans to set up new manufacturing units at Ahmedabad, Lucknow and an additional unit in Maharashtra.”