Hindustan Agrigencies Limited (HAL) was incorporated on 25.07.90 with the Registrar of Companies, Delhi & Haryana as a private limited company with its registered office in New Delhi and converted into a public limited Company on 19.02.94 and obtained the fresh certificate of incorporation on 16.05.1994 with the objective of positioning itself in the sunrise industry of agriculture biotechnology. The Company commenced implementation of a tissue culture and hybrid seeds project at Hyderabad with a capital outlay of Rs.106 Iakhs in 1990, with venture capital assistance of Rs.80 lakhs as Term Loan & Rs.6.5 lacs as equity capital from PCTC. After trial production in early 1992, commercial production of hybrid seeds was started in April 1992. At the same time the tissue culture project implementation and development of mother cultures were in progress. The tissue culture development work has been completed and trial exports have been successful. Commercial production of tissue culture plantlets commenced in August 1994. PRESENT BUSINESS The Company has set up a Tissue Culture & Hybrid Seeds Project having an installed capacity of 3000 TPA of hybrid seeds and 2 million tissue culture plantlets per annum. The Company has availed working capital limits of Rs.70 lakhs from State Bank of Hyderabad. HYBRID SEEDS is a technology driven business. Development of superior hybrids through R&D is a pre-requisite for success. A strong extention and field promotion programme is necessary to transfer the technology from lab to land. Trial production of seeds started in early 1992 and commercial production started from April 1992. Simultaneously research work on seeds was started. Using the experience and expertise of Company's research staff, it developed and introduced its own research hybrids in record time. The company today has proprietory hybrids in 6 crops viz Sunflower, Cotton, Jowar, Bajra, Fodder Jowar and Tomato. The Company's products (under the brand name "Supergene" and "Sahakar") are now recognised as quality seeds and are compared with those of large and established companies in the industry. The Company is operating in 9 states, the major markets being Maharashtra, Karnataka, Punjab, Haryana and Rajasthan. The Company has a network of dealers in these states. The distribution is carried out through distributors located in district headquarters or preferred dealers located in mandi towns. They in turn, distribute the Company's seeds to retailers who further sell them to the farmers. The sale of Company's seeds is almost exclusively through private channels except for supplies made to government departments or state seed corporation. TISSUE CULTURE is a technology for cloning of plants. Success in tissue culture business requires access to 'elite clones' and having commercially viable technology for high multiplication rates. A glass house is registered for hardening in-vitro plants. Tissue culture business is of recent origin in India. It involves exporting ornamental plants to the West. There is also a large market for horticulture plants like banana, strawberries and forestry in India. The Company has successfully developed indigenous technology for producing different varieties of ornamental plants like syngonium, orchids, chrysanthemum, spathyphylum, etc, and horticulture plants like strawberry, grapes, and bananas through tissue culture techniques. These products are presently under test marketing. Trial consignments have already been exported to parties in Spain, Belgium, Holland and USA from whom favourable feedback has been received. The commercial sales of plantlets developed through tissue culture commenced in August 1994. MAIN OBJECTS OF THE COMPANY The main objects of the Company as set out in Memorandum and Articles of Association of the Company are: 1) To establish and carry on the business as researchers, developers, traders, dealers, agents, importers, exporters, distributors, representatives or otherwise in respect of the following products: a) Know-how, patents and products of biotechnology and genetic engineering, research and development in the field of agriculture, tissue culture and its metabolites, aquaculture, sericulture, pisciculture and marine, animal and other produce covered and understood by the term agriculture. b) Products which serve as any type of agricultural input such as pesticides (biological or chemical or any other type), fertilisers, nutrients, seeds, feeds, weedicides, fungicides and implements used for agriculture and agricultural outputs processed or other wise. 2) To establish, maintain, conduct and operate research establishments, centres for dissemination of knowledge and technical advisory service for the purposes of agriculture in particular and biology and other frontiers of science with a view of evaluating, developing, improving, modifying or discovering new agricultural inputs. SUBSIDIARIES There are no companies which are subsidiary to this company and the promoters have not promoted any other company.