Seed company Maharashtra Hybrid Seeds Company (Mahyco) plans to expand its presence in Africa and South East Asia, as it seeks to maintain a growth of 12-15 per cent in its business over the next three years.
"We are growing between 12-15 per cent per annum and expect to grow at the same rate in the next 3 years," Mahyco Chief Technology Officer Usha Zehr told PTI here.
"We are a profitable company with Rs 700 crore revenue last year," she said, while adding that Mahyco is planning to expand in Africa and South East Asia.
Mahyco has already established its presence in Vietnam, where it is mainly focusing on rice and vegetables and is planning to enter the maize segment, she said.
"We also have an administrative office in Singapore to look after Indonesia, Philippines and Bangladesh," she added.
Zehr said the company late last year purchased a majority stake in Quton, an Africa-based company, mainly for cotton, business in the continent.
"Besides cotton, we are also looking at maize and vegetable business in the African market, which has a huge potential for growth," she added.
Talking about the company's pipeline, she said, there are four crops, Bt chickpea, Bt okra, Bt rice and Bt cabbage and cauliflower.
"Apart from these, we are also working on developing Bt cabbage and cauliflower," she added.
For Bt okra, the regulatory study is under progress and Mahyco will apply for commercialisation by 2016, she added.
Talking about Bt brinjal, Zehr said, the company has completed all the studies required for the crop.
"Post that the regulatory body had given commercial approval in 2009, but a moratorium was imposed in February 2010 by the then Environment Minister," she said.
The company hopes the current government would consider Bt brinjal as they seems to be positive about Bt technology and allowing field trials in few crops," she added.
