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Godrej Agro eyes 15% revenue rise
Dec. 26, 2019
Godrej Agrovet Ltd.
IndiaFollow
IndiaDiversified agro-business company Godrej Agrovet is aiming for a 14-15 per cent growth in revenue in the ongoing fiscal and expects its bottomline to increase 8-9 per cent in the ongoing fiscal.
“Animal feed constitutes almost half of our total revenue. It has been a tough year for the agri business. Despite the increase in raw material cost, we are seeing growth. Besides animal feed, crop protection and value-added dairy products are the other two growth areas of the company,” Godrej Agrovet managing director B. S. Yadav said.
The company is eying a revenue of Rs 7,000 crore in the current fiscal and has also earmarked a capital expenditure of Rs 250-300 core annually for the next three years with focus on a few verticals such as animal feeds, agro-chemicals, including exports, and value-added dairy.
“Last fiscal, we clocked a revenue of around Rs 5,900 crore. We are aiming at a 14-15 per cent jump in the current fiscal,” Yadav said.
“The company forsees better profit margins. PBT is likely to rise 7-8 per cent and net profit will be 17-18 per cent higher (due to the decline in corporate tax),” he added.
Yadav was in the city to launch imported crop protection chemical Hanabi.
Source: the telegraph India
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