KRBL CNBC Interview:
- Exports demand/prices continue to be positive in H2FY23. They did a 1000 crs revenue in H1 FY23. Growth of 36% in Exports.
- Demand has improved overall in domestic/export business.
- Demand from Middle East is rising not because of World Cup.
- Logistics cost reduced due to new plant in Gujarat as it allows direct Shipping.
- Capex: Set up of 3 plants. One is the Gujarat one as mentioned above. Second is in Karnataka where the focus is on Non-Basmati Rice. Land has been acquired and other formalities are going on. Third area in MP which is Basmati growing area so they are still looking for land. It is a capex of 250 crores. The revenue that these 3 plants will generate is 400-500 crores in the initial stages. Gujarat Plant will go live by April 2023. Karnataka will go live in FY24. In MP, the plant will be commissioned in FY25.
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