I was joined in 10 min late.. I could not make any notes as I was in office. Below are the some points which
i could remember.But not sure why it went down so drastically.. may because not much growth expected from Management in cotton acreage.
1) Management said,they are sure to grow by 25% in next fiscal.SOld close to 58 laks packet this year(H2) and
hopeful to sell around 70-75 laks packet next year.
2) He said, they are confident of winning the case against Monsanto
2) This quarter loss is due to the write off in Maize seeds.
3) If the Court order is in favour of Monsanto, they can easily pay that amount(65 Cr Q1+1Cr Q2) as they have close to 300 Cr cash
Most of the cash in liquid MF’s
4) Rasi and Nuziveedu gained market share at the expense of Kaveri.Now its around 14%
5) There will not be much improvement in cotton acreage. This year, it was around 4Cr packet.
Next year, packets demand would be around 4.2Cr to 4.4Cr and out of which they are targetting for 70 laks packet.
Farmers from Karnataka and other state may again switch to cotton next year(20-40 laks more packet)
6) Out of 58 laks this year-33 laks–Andhra and Telangana
12 laks–Maharasthra
5 laks–Karnataka
i think, remaining from Rest of india
7) On the Vegetable seed business, not much revenue
8) Planning to increase the cash chest to 400 Cr. i think, he said no dividend
9) Spending around Rs.12/packet for advertising
10) By next May, tey will have close to 90 laks packet stock.(i think 45 laks this year unsold inventory+45 next year)
11) There were some talks on whitefly issue in Punjab which they said it was not due to seeds(dont remember the exact reason)
12) For Some question on Govt agency in Nagpur releasing BG1 seeds with very less price, mgmt said those seeds will not be pet resistent as they are BG1
and we are selling BgII already
Disc: Invested from lower level.>10% of Portfolio.
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