Sunday, Apr 14 2024 | Time 00:06 Hrs(IST)
Business Economy

Nuziveedu seeds eyes 30 pc market share in cotton in next 3-years

Hyderabad, Jan 30 (UNI) Nuziveedu Seeds Limited (NSL), a pioneer company in the marketing of hybrid cotton seeds in the country, is eyeing 30 percent market share in the next three years in cotton, against 16–17 percent current market share in this segment in the country.
On the occasion of the completion of 50 years of service to the farmer community by the company, NSL Group Chairman and NSL Seeds Managing Director Dr. M Prabhakar Rao said that our market share in overall paddy crops was 12–14 percent and hybrid seed stood at only 5–6 percent.
In FY22–23, our revenues stood at Rs 1100 crore and were expected to grow at 2X of market growth to triple our revenue over the next 4–5 years and gain market share across all the major crops, he said.
Recent launches of new cotton hybrids like Asha, Aadhya, Navneeth, Siri, Revanth, and Ray have positioned NSL for much faster growth with its cotton business. With an increased focus on product and market development for field crops, NSL has launched several pathbreaking hybrid products like BX-44, X4 and RX100 in hybrid rice, Winner, Capsule, Kranthi, and Danvir in hybrid corn, Raja Jute and Sandhya, Sri Annapurna, NP9624, Dhanwan, and Balwan in improved varietal rice segments.
NSL has also entered newer crops like hybrid millets (SunMax) and hybrid mustard (Zordar, Champion, and Basanti), helping farmers in Western India evolve from subsistence farming to surplus farming, he said.
In addition to our own proprietary research, Dr. Prabhakar said we continue to collaborate with ICAR and government institutes to commercialise newer products and technologies coming out of the public research system. The soon-to be commercialized HT Rice technology is one example.
NSL is investing substantially to develop products adaptable to changed agronomic practices that enhance productivity and mechanisation. He said the High Density Planting System (HDPS) initiative in cotton is just one example.
NSL is also working towards expanding our seed business in other South Asian and African countries and developing alternate models of sales and B2B collaborations within and outside the country to maximise our genetic footprint and market shares, he informed.
Significant investments have been made to upgrade the ERP and digital capabilities of the company to keep pace with changing market needs and growth aspirations, he added.
Dr. P. Sateesh Kumar, Whole-time Director (R&D), NSL, said that we are spending annually between Rs 50 and Rs 55 crore for Research and Development(R&D) to develop and test new varieties and hybrids across the country. We have R&D centres at various locations and also multiple testing centres at various locations in the country.
We will enhance the amount for R&D to develop future technologies this year, he informed.
Founded in 1973 by Mandava Venkata Ramaiah, an agricultural technologist near Nuziveedu town in Krishna District, Andhra Pradesh, NSL is among the few companies that started around the same time as the inception of the private seed sector in India, initially working towards taking the public-bred varieties to the farmers and eventually developing its own research programme to offer value-added improved varieties and hybrid seeds to the farming community, said Dr. Prabhakar.
Only a handful of the companies have survived over the years, with NSL being among the very few to have crossed Rs 1000 crore in revenue over the years, he claimed.
More News

AMCCIE demands withdrawal of new hike in electricity tariff

13 Apr 2024 | 6:21 PM

Pune, Apr 13 (UNI) The Agarwal Marwadi Chamber of Commerce Industries and Education (AMCCIE) on Saturday wrote a letter to Chief Minister Eknath Shinde demanding withdrawal of new hike in electricity tariff imposed by Maharashtra State Electricity Board from this month.

see more..

Kottayam-Kochi Rubber Market Rates

13 Apr 2024 | 5:50 PM

Kottayam, April 13(UNI) Following were the Rubber Market rates announced by the Rubber Board here on Saturday per quintal.

see more..

Institutional investments in real estate nosedive as foreign investors turn cautious

13 Apr 2024 | 5:03 PM

New Delhi, April 13 (UNI) Institutional investments in the country’s real estate sector slumped 55% year-on-year to US$ 552.1 million in January-March quarter (Q1) of 2024 as foreign investors stayed away from the market in the wake of global macro-economic uncertainties and geo-political tensions, property consultant Vestian said in a report on Saturday.

see more..
AP: Granules India’s Unit V facility at Anakapalle completes US FDA Inspection

AP: Granules India’s Unit V facility at Anakapalle completes US FDA Inspection

13 Apr 2024 | 4:45 PM

Visakhapatnam (Andhra Pradesh), Apr 13 (UNI) Granules India Limited, announced on Saturday that the Company’s Unit V facility located at Anakapalle has successfully completed the US Food and Drug Administration (FDA) inspection.

see more..

Hyderabad: HP launches AI-enhanced laptops for gamers

13 Apr 2024 | 4:44 PM

Hyderabad, Apr 13 (UNI) HP has launched AI-enhanced laptops designed for gamers and content creators here on Saturday.

see more..