SHRI VENKATESH REFINERIES - a Soybean Oil Success Story

By BWA Envoy
July 18, 2022
2 Minutes Read

It has only been a few decades since soybean oil found its way into kitchens as a substitute for those who never warmed up to the flavour of its traditional counterparts - coconut, mustard, peanut, and sesame seed oil. A trio of entrepreneurs in Maharashtra - Dinesh Ganapati Kabre, Chairman and MD, Ramesh Ganapati Kabre, Wholetime Director and Anil Ganapati Kabre, Vice-Chairman and Wholetime Director, saw an opportunity here. They decided to take the plunge with this relatively new entrant on the edible oil scene, founding Rich Soya. Under their refinery company Shri Venkatesh Refineries Limited (SVRL) (www.richsoya.in) incorporated in 2003, a range of soy oil products and their by-products made their entry into markets leading to 145 dealers and distributors across India. While soybean, by itself, is widely used in Asian cuisine as it is a rich source of protein, and affordable too, soybean oil is a relatively modern by-product.

Over the years, Shri Venkatesh Refineries Limited has grown to have a refining capacity of 36,000 tonnes. The business group has also expanded their line of products to include the trading of edible oils derived from cotton seed and palm. The process involves purchasing oil in its raw form, after which it undergoes refining at the plant before it is packaged and sold. The products undergo stringent quality checks. The growth of SVRL was further marked by the company going public in 2020. Dinesh Ganapati Khabre, expressed his happiness at the launch of the SME IPO. The management now includes Prasad Dinesh Khabre, CFO and Wholetime Director, Sushmita Swarup Lunkad, Independent Director and Anisha Sheshnath Pandey, Independent Director.