Godrej Agrovet hopeful of achieving 14-15% revenue growth in FY20

The company is also expecting to record 17 to 18 per cent growth in its net profit during the fiscal 2019-20.

Diversified agro-business company Godrej Agrovet Ltd on Friday said it is optimistic of achieving at least 14 to 15 per cent growth in its revenue during the current fiscal, amid economic slowdown in the country. The company is also expecting to record 17 to 18 per cent growth in its net profit during the fiscal 2019-20, an official said.

“Last fiscal, we had grown by about 10 per cent to Rs 5,900 crore. We are aiming at Rs 7,000 crore topline but optimistic of achieving at least 14-15 per cent growth in revenue in the current financial year,” Godrej Agrovet managing director B S Yadav said here. He said revenue growth is expected due to price hike of our products as input costs have increased and better performance of some verticals.

The company will continue to make capital expenditure of Rs 250-300 crore for another three years with a focus on few verticals like animal feeds, agrochemicals and value-added dairy. “The company is expecting a better profit margin. Growth of profit before tax (PBT) will be 7-8 per cent and net profit growth at 17-18 per cent (due to decline in corporate tax),” he said.

He was in the city to launch imported crop protection chemical “Hanabi” to prevent from red spider mite prevalent in the tea gardens of east and north-east region. Yadav said the company sees a lot of potential in exporting agrochemicals as India has become more competitive than China.