Aries Agro is buzzing post positive commentary in a company held analyst meet; many brokerages have turned bullish on the company.
In an interview to CNBC-TV18, Rahul Mirchandani, CMD of the company spoke about the latest happening in the company.
We are looking at Rs 305 crore gross revenues in this particular financial year, he said.
Cannot look at significant numbers from the eight new products in the first year, he added.
According to him, close to half the products were imported from international facility as well as some other suppliers. Now 75 percent of the products will be made in India, he added.
On goods and services tax (GST) front, he said over the last five-six years value-added tax (VAT) and excise duties on their products rose steadily.
"We went from almost zero tax rates to 11.5 over the last five-six years. So effectively whatever had to be increased, already got increased over the last six years and therefore this year with a 12 percent GST on our fertiliser products, the impact in terms of total percentage is almost negligible," said Mirchandani.
Watch accompanying video for more details.
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