Diversified agri-business company Godrej Agrovet today said it expects a 15 per cent growth in turnover to Rs 1,840 crore in FY'11 from Rs 1,600 crore in the previous year.
"I can say that courtesy the good numbers we have seen in the first quarter, we expect a 15 per cent jump in our top -line and 25 per cent in the bottomline... Last year, we had a turnover of over Rs 1,600 crore," Godrej Agrovet Managing Director B S Yadav told reporters here today.
The company, which currently sells animal feeds, ready- to-eat foods and processed poultry products, is looking "seriously" at diversifying into newer sectors, he said.
"Dairy, micro-irrigation, seeds and corn seeds are the avenues we are looking at... At this juncture, I cannot say whether our entry into the market will be through the greenfield mode or acquisitions."
The company can comfortably raise finance for the proposed diversification through debt or internal accruals, Yadav said. On acquisitions, he said the company is "always open" to proposals in the palm oil and animal feed sectors.
For organic growth, the firm has earmarked Rs 50 crore as capex for this fiscal, Yadav said, adding that a majority of the amount will go towards raising capacities of its animal feeds business by erecting three plants in Punjab and Uttar Pradesh.
Godrej Agrovet also plans to invest in its palm oil vertical in FY'11. It currently has 40,000 hectares under cultivation, he added.