Meet man, an Indian, who once ran a mill, now owner of Rs 5385 crore, his business is…., brand name is…

Anil K. Mittal’s rise from operating a mill to leading a multi-crore enterprise is a transformative journey that has not only redefined the rice trade but also placed KRBL at the forefront of global competitiveness.

Anil K. Mittal, the driving force behind KRBL Limited, has transformed the company into India’s largest basmati rice exporter, with its iconic brand, India Gate Basmati Rice, becoming a household name globally. Mittal is known for his bold decisions, such as introducing relatively unknown rice varieties that turned out to be highly profitable. These moves solidified KRBL’s dominance in the rice trade.

Origins Of KRBL

Founded in 1889 by Khushi Ram and Behari Lal, KRBL began its journey in cotton milling and banking before pivoting to rice milling. However, it was under Mittal’s leadership that the company redefined its identity, becoming a pioneer in the global basmati rice market.

In a significant leap, Mittal led KRBL to identify and introduce the Pusa 1121 rice variety to international markets. Today, this variety is one of the most sought-after basmati rice types worldwide, cementing KRBL’s status as a market leader.

KRBL Business Innovations

Mittal’s focus on research and development in agriculture has enabled KRBL to commercialize new rice varieties. Additionally, the company has diversified its operations, venturing into rice bran oil production, biomass energy and wind and solar energy. This commitment to renewable resources has positioned KRBL as a sustainability leader in the rice industry.

From Supplier To Exporter

Mittal’s career saw a pivotal moment in the 1970s when he secured a contract to supply barley to the Indian Army, laying the foundation for his future successes in the agribusiness sector.

Mittal’s entry into rice exports came in 1987, after years of supplying rice to established exporters. He invested Rs 25 lakh to set up a processing unit near Delhi with a capacity of six tonnes per hour. By 1993, KRBL was exporting 35,000 tonnes of rice annually, commanding a 10% share of India’s basmati exports.

In 1995, KRBL went public, raising Rs 15 crore, a significant move that laid the groundwork for its future expansion. 

Global Investment 

In 2003, KRBL became the first Indian rice company to attract foreign investment of Rs 27 crore. By 2006, it raised $12 million through the largest Global Depository Receipt (GDR) issue in the Indian rice industry.KRBL’s venture into renewable energy has also paid off well. A 14-MW captive power plant powered by rice husk meets the company’s fuel needs and generates close to Rs 1 crore annually in carbon credits.

World’s Largest Rice Milling Facility

KRBL boasts the world’s largest rice milling plant, located in Punjab, with an impressive capacity to process 195 metric tons of rice per hour, setting a benchmark in the industry.

KRBL’s Net Profit

KRBL’s growth under Mittal’s stewardship is reflected in its financial achievements. By the 2023-24 fiscal year, the company reported a revenue of Rs 5,385 crore and a net profit of Rs 595 crore.