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Speciality feeds and feeds supplement manufacturer Anil Nutrients Limited, a part of Ahmedabad-based Rs 1,200 crore Anil Group, has decided to invest Rs 700 crore over the next three years. The investment will be mainly for expanding its production capacity. Post, expansion, the company hopes to achieve a topline of Rs 1,500 crore in the next five years.
The investment will be taken up in a phased manner. The company intends to pump in Rs 135 crore in the next six months as part of the first phase of expansion. It will set up a new state of the art manufacturing facility at Savli near Vadodara in Gujarat. Currently, the company's topline is Rs 200 crore and it expects it to rise by Rs 500 crore by 2016-17 after the first phase of expansion.
"At present, the export contributes Rs 10 crore to the overall turnover of the company and post expansion, it is likely to increase," said Amol Seth, chairman and managing director, Anil Group.
The company is going to raise funds by way of internal accruals, debt and equity. Seth did not even rule out the possibility of initial public offer to raise funds.
The company also plans to expand its product basket by introducing new products which will enhance the growth of livestock by providing balanced nutrition and energy.
