Godrej Agrovet, a subsidiary of Godrej Industries, plans to invest Rs 300 crore over the next three years in capacity expansion, improving animal feed and agri-inputs. The company is also looking at mid-sized R&D buyouts in the areas of animal feed and agri inputs in the country in the range of Rs 400-500 crore.
The company is looking to develop innovative technologies and products that would help cut the production cost of poultry meat, eggs and milk, and has undertaken several research and development projects at the R&D centre in Nashik, Maharashtra. The company has invested Rs 20 crore in the 11-acre facility that has recently launched a Bajra hybrid and plans to launch a Corn hybrid next year.
All the projects at the new centre are aimed at improving livestock yields. At the new centre, named Nadir Godrej Centre for Animal Research & Development (NGCARD), research would be aligned towards developing innovative technologies and products that will enhance animal feed nutritionally, thereby improving productivity and efficiency of animal agriculture. The firm’s animal feed business has a pan Indian presence with sales of over one million tonnes annually of feed and nutrition products for dairy cattle, poultry and aquaculture.Godrej Agrovet operates in four business segments—animal feed, oil palm plantations, agri-inputs and poultry. Animal feed contributes Rs 2500 crore worth business for the company while palm plantation and agri inputs contribute Rs 400 crore each.