Speaking to press persons here on Saturday, the group chairman MV Subbiah said, "We are looking at similar size plants which can give us added value and improve our brand image in the market." The group has shown interest to take over the ailing Godavari Fertilizers owned by the AP government. It has already submitted the `letter of interest' to the government of Andhra Pradesh recently, and awaiting reply, Mr Subbiah said, "We are open for any company in the East Coast." At present, the group has two companies - EID Parry and Coromandel Fertilizers - with a combined capacity of one million tonne. The Chennai-based Rs 3,700 crore group has presence in sugar, cycles, tubes, abrasives, financial services, bio-technology, besides fertilizers.

In financial services, the group is planning to set up an exclusive distribution company for the entire range of financial products, including insurance products, Mr Subbiah said. Besides taking up agency business for life insurance products, the group is planning to enter non-life insurance business by joining hands with international players.

Earlier proposals to have arrangements with Axa of France fell-through, and now the group is in search of an alternative partner in the non-life insurance business, he added.

Further, the group is looking for action in the bio-technology area as it proposes to obtain patent registration in Australia for Neem derivatives.

The group is already exporting the product to the US markets.