Godrej Agrovet is set to expand its offerings to consumers. It is eyeing acquisitions in dairy and irrigation sectors, reports Kritika Saxena.
Godrej Group 's agriculture arm, Godrej Agrovet, wants to diversify. Its primary business is animal feed, oil palm plantations, agrochemicals and poultry. It now wants to expand its portfolio through acquisitions.
Balram Yadav, MD, Godrej Agrovet said, "We are looking at micro irrigation, we are looking at dairy, we are looking at seeds. We have already tried testing the quant seeds. Funding will definitely be arranged through internal accruals and debt. We have a very strong debt equity ratio."
The company has spent USD 15 million to set up a joint venture in Bangladesh and is set to expand its footprint there.
Yadav explained, "First phase of the expansion is already complete. We will commission our floating fish feed miss in a few weeks from now. We our doubling the capacity of animal feed. So that will be commission in say three months from now."
Godrej Agrovet is targeting 15% growth in the topline and 25% growth in the bottom line in FY11.
