I beg to differ here. Wheat and rice are two different ball games. Wheat taste changes according to breed and environment but in case of Basmati, more than 80% of farmers have already shifted to a single highly successful variety, Pusa 1121 (https://en.wikipedia.org/wiki/Pusa_1121_rice). Now almost every long grain unbroken basmati rice is Pusa 1121 with almost no change of taste among all major producers. Most of the value addition by KRBL is just ageing, milling, packing and branding. (My opinion is about Indian market only, I have no idea how their export story plays out).
Disc. Tracking position, may enter if valuation becomes attractive in due course.