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Godrej Agrovet Continues Growth Trajectory

by 5m Editor
8 July 2010, at 8:42a.m.

INDIA - Godrej Agrovet is predicting a 15 per cent increase in its turnover this fiscal year.

Godrej Agrovet is eyeing to achieve 15 per cent growth in its turnover in the current financial year (2010-11), which stood at Rs 16 billion rupees (INR) during the previous year, reports Top News of India.

B.S. Yadav, the company's managing director, said: "We expect a 15 per cent jump in our topline and 25 per cent in the bottomline. Last year, we had a turnover of over Rs 1,600 crore."

Mr Yadav said that diversified agri-business company, which presently sells animal feeds, ready-to-eat foods and processed poultry products, is looking 'seriously' at diversifying into fresher segments.

He added: "Dairy, micro irrigation, seeds and corn seeds are the avenues we are looking at. At this juncture, I cannot say whether our entry into the market will be through the greenfield mode or acquisitions."

Godrej Agrovet can comfortably lift finance for the planned diversification via debt or internal accruals.

On acquisitions, he said that the company is 'always open' for proposals in the palm oil and animal feed segments.

For organic expansion, the company has earmarked INR500 million as capital expenditure for 2010-11 and a big part of the amount will go towards raising capacities of its animal feeds business by erecting three plants in Punjab and Uttar Pradesh.

Godrej Agrovet is also making investments in its palm oil vertical as part of its capital expenditure for FY-11, according to Top News. Presently, it owns 40,000 hectares under cultivation.