To invest Rs 350cr over 2-3yrs: Nagarjuna Agrochem

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To invest Rs 350cr over 2-3yrs: Nagarjuna Agrochem

In an interview with CNBC-TV18, company’s Director and Chief Operational Officer Ashok Muni spoke about his outlook for the company post results.

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Nagarjuna Agrichem declared its FY10 Q4 results. The company's revenues stand at Rs 140 crore versus Rs 142.7 crore. Its profit after tax is at Rs 12.86 crore versus Rs 11.09 crore.

In an interview with CNBC-TV18, company's Director and Chief Operational Officer Ashok Muni spoke about his outlook for the company post results.

Here is a verbatim transcript of an exclusive interview with Ashok Muni on CNBC-TV18. Also watch the accompanying video.

Q: How has the quarter looked for you? Your revenues have not grown much at all, why is that?

A: Firstly it has been a great sigh of relief after a great year because this has been one of the most challenging years which the agriculture sector has faced. Typically in Q4 we had seen downside in exports that is because 2010 calendar year began with correction year for 2009. Most of the multi national companies have seen a negative growth in 2009 because their forecast over 2008 turned out to be negative and that resulted in huge build up of inventories and that correction has started in Q4. So our exports have dropped. However, we started doing very well in institutional sales and the retail segment. Therefore, we could come almost at par with Q4 of last year but for Rs 1-2 crore drop in the topline but our bottom line has grown by about Rs 2 crore.

Q: The board has also approved fund raising plans. You are looking to raise upto Rs 100 crore which could be via QIP or public issue, rights issue. By when are you looking to raise this money? Would it be via tranches and could you also tell us for what you would be raising this money?

A: We have a very big plan coming up. We are looking at a total capital investment of Rs 350 crore spread over next two-three years of which one of the biggest project is we are going to spend Rs 250 crore at SEZ Vizag.