homevideos Newsearnings NewsKaveri Seed Q3: Bad rabi crop impacted topline; management says Telangana a worry
Kaveri Seed Q3: Bad rabi crop impacted topline; management says Telangana a worry
We target to have 10-15 percent topline growth and 15-20 percent bottomline growth next year, said C Mithun Chand, executive director (ED) of Kaveri Seed Company, on Wednesday.
Kaveri Seed's third-quarter gross margins improved for the company and the profit after tax is up 10 percent, driven by lower finance costs.
We target to have 10-15 percent topline growth and 15-20 percent bottomline growth next year, said C Mithun Chand, executive director (ED) of Kaveri Seed Company, on Wednesday.
Speaking in an interview to CNBC-TV18, Chand said, “We are into specialized market of seeds so we are not impacted by the current farmers’ agitation. Therefore, we target to have a 10-15 percent topline growth and 15-20 percent bottomline growth for the next year.”
On market share front, he said, “We have lost some market share in Telangana but we have gained in other states. Telangana has become a credit market and we were not participating in the credit market and so that’s one of the reason why we have lost the market share.”
However, said Chand, an increase in market share shows that the new launches are doing well. “New products will be the major contributors going forward. In fact, in next couple of years these products could contribute close to 25-30 percent of our total revenue,” he said.
For full management commentary, watch the video
(Edited by : Abhishek Jha)
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