Mahindra Agri Solutions Ltd is expecting its turnover to almost double to Rs 1,500 crore in the current fiscal on new product launches, good monsoon and business acquisition in Europe, a top company official said today.
Mahindra Agri Solutions Ltd is expecting its turnover to almost double to Rs 1,500 crore in the current fiscal on new product launches, good monsoon and business acquisition in Europe, a top company official said today. Part of the Mahindra & Mahindra Ltd, it today launched an advanced insecticide ‘Tromph’ to be used mainly in rice and cotton crops and aims to have 20 per cent share in this Rs 150 crore segment, its MD & CEO Ashok Sharma said. “We expect our turnover to almost double at about Rs 1,500 crore this financial year from Rs 800 crore last year. Out of total turnover, Rs 500 crore would come from Europe business,” he told PTI. It had acquired majority stake in Netherlands-based OFD Holding BV, which is into the fruit distribution business. On the new insecticide, he said Tromph is designed to kill insects in paddy and some other crops. The molecule belongs to 3rd Generation technology and is a leading solution for key pests across the world. Tromph will be marketed and sold in India by Mahindra Agri Solutions.
It has been launched from Karnal in Haryana and will soon be introduced in other important markets in west and south India. “Tromph is an advanced insecticide that has been developed to kill the insect pests that infect various crops such as rice, cotton, chillies, vegetables and fruits like mangoes. It helps farmers protect their crops from insects like the Brown Plant Hopper, known to severely damage rice, and also from the sucking pest in cotton,” the company said. The product is very effective against those pests which have grown resistant to other generic insecticides, it added. Sharma said the market size of this insecticide in India is about Rs 150 crore and the company is trageting to capture 20 per cent market share. “We, at Mahindra Agri, have a vision of delivering FarmTech Prosperity and have been working towards providing a full range of solution to the farmers, including high quality hybrid seeds, advanced agrichemical solutions, micro irrigation and agri-advisory through our Samriddhi centres,” Sharma said. Mahindra Agri Solutions also has a strong outputs business consisting of fruits and vegetables, pulses, edible oils and dairy.