Business of Agriculture March April 2019 Edition | Page 36

News & Updates Parijat Industries records 40 percent sales growth in 2018 -19 A grochemicals manufacturer Parijat Industries achieved a record sales growth of 40 percent for the year ending 31st March 2019. Based on strong surges from its Indian and overseas markets overreach initiatives. The exponential growth in sales was attained in a challenging year for the Agrochemicals sector in India as well as across the world, by steadily building its physical infrastructure over the last couple of years, and putting in place strategic building blocks in terms of expanding its distributor network, for enhancing market penetration in existing as well as new international markets. This has also resulted in the Company’s financial rating on Borrowings, being upgraded by ICRA, from stable to positive. Parijat expects that with the recent acquisition of the technical manufacturing facility Crimson Organics in the Chemical Zone in Cuddalore in Tamil Nadu, it will join a select band of the few Indian companies, with an end to end integration. Having already built, a formidable manufacturing capability for the formulation, Parijat will no longer be exclusively dependent on external sources for its in-house existing demand of technical and intermediates post this acquisition. Currently, Parijat formulates its requirements at its three formulating facilities at Ambala. Kaveri Seeds sets up Asia’s largest Corn Cob Drying Facility in Telangana K averi Seeds, one of India’s premier seed companies with a strong R&D base for developing quality hybrids of key Indian crops announced the commencement of its corn cob drying facility at Molangur - Karimnagar in Telangana. & MD, Kaveri Seeds said, “We have been continuously investing in state of the art technology enabled seed processing facilities in order to meet the rising demand for our farmer-focused high quality and high- performance seeds. We are extremely happy The plant is Asia’s largest and the first of its kind cob dryer. This plant has a bio mass, double pass dryer corn cob drying unit, which is fully automated and has the best and state of art infrastructural capability. The capacity of the cob drying facility is 1456 Mt per cycle which is distributed across 36 bins. Speaking on the occasion, Mr G.V Bhaskar Rao – Chairman 36 Business of Agriculture | March-April 2019 • Vol. V • Issue 2 The Company distributes its own branded products across 16 Indian states as of now, internationally also it has been focusing more on expanding its branded products portfolio as well through its international network to a large number of overseas customers numbering over 40 countries worldwide. Pa r i j a t ’ s s u b s i d i a r i e s , i n M o s c o w, London and Bamako have enhanced its ability to distribute branded products under its own registrations. The synergy created with the Crimson acquisition will further strengthen its position in the Indian and international markets. Parijat industries is one of India’s fastest growing agrochemical Companies, with its manufacturing base at Ambala, Haryana, and with a presence across India, and the globe. Parijat and its international subsidiaries sell branded formulations across countries of Asia, Africa, CIS, Europe, and North & South America. to launch this first of its kind, world-class corn cob drying facility in Telangana which will help increase germination and vigour and also the shelf life of seeds thereby helping us to manage the inventory better, from this season onwards. Kaveri Seeds has invested around Rs. 20 crores exclusively for cob drying facility in its existing integrated seed conditioning and packing facility, spread over 15 acres of land. The cob drying facility can process 400 mt of fresh corn cobs per day. Kaveri Seeds is a robust franchise, built organically over the last 30 years, and will continue to be amongst the top seed companies in the country. Kaveri is the only company to have a footprint across Cotton, Maize, Millets, Vegetables and Rice, and also the largest pipeline in hybrid seeds across categories.