Shriram Bioseed eyes 25% growth
Hyderabad: Shriram Bioseed Genetics, a part of DCM Shriram Consolidated Ltd and a leading player in biotech seeds segment, is looking to close the ...
Hyderabad: Shriram Bioseed Genetics, a part of DCM Shriram Consolidated Ltd and a leading player in biotech seeds segment, is looking to close the current fiscal with 25 per cent growth from `391 crore turn over it has logged in last fiscal. It sells bio-tech seeds under Bioseed brand. The company, which enjoys 10 per cent market share in corn, 8 per cent in paddy, 12 per cent in cotton seeds and 20 per cent in okra seeds across the country, is focusing on high-yielding seeds. It will soon launch new tomato seed which will not only be a long-lasting one, but also produces more juice. "The bio-tech seeds industry with its size pegged between `12-13,000 crore is growing at 12-13 per cent annually. Our growth trajectory is far ahead of the industry average and we expect to log in similar growth levels in future too," Dr Sharad Sharma, President, Shriram Bioseeds, told media on Monday. According to him, the company is funneling 12 to 13 per cent of its total revenues back into research and development (R&D). "Our focus in R&D has all along been on high-yielding varieties which require less water for cultivation. We are working on several new seeds, but it takes three to five years for every new seed to be developed," Sharma explained. Shriram Bioseed has 55,000 acres under cultivation for producing for seeds. Of this, 26,000 acres are in Andhra Pradesh. "We own some of the lands, but majority cultivation is through contract farming. We are increasing the area by 25 per cent annually," he said. He sounded alarm that cultivated area had been falling in AP and some other states mainly on account of water scarcity as well as rapid urbanisation.