Camson Biotech rides on rising demand for hybrid seeds, bio-fertilizers and biocides to deliver record growth of 814% in Q4
Net annual income grows by 63% to Rs 80 crore. Annual Net Profit grows by 85% to Rs 15 crore.
Online, May 20, 2010 (Newswire.com) - Mumbai, May 19, 2010:Camson Biotechnologies Limited, one of India's fastest growing IPR-driven agricultural biotechnology companies posted a record 814% growth in the fourth quarter ended March 31, 2010 on the back of rising demand for zero-residue biocides and Camson's unique hybrid seeds. The company declared a total income of Rs 18.97 crores for the quarter ended, rising 171% YoY from Rs 6.99 crores in the corresponding period last year.
Camson's introduction of the hybrid ice-box watermelon and an increasing demand for biocides and bio-fertilizers that are cost-effective and also give a higher crop yield, propelled the company's annual net profit to Rs 15.01 crore for the year ended March 31, 2010, showing a growth of 85% from Rs 8.11 crore recorded in the corresponding period last year.
Commenting on the results, Dhirendra Kumar, Founder and Managing Director Camson Biotech said, "I am delighted with Camson's strong performance in this quarter and in the financial year. Our business segments continue their robust growth on the back of increasing demand for cost-effective and environmentally friendly hybrid seeds, biocides and bio-fertilizers."
He added, "Our innovations in the hybrid seeds segments have shown a strong acceptance with farmers and we are confident of sustaining this growth momentum with the introduction of path-breaking products for achieving higher yield in the coming quarters. We believe that we are bringing agriculture and biotechnology together to create food security for India and the world."
Business Performance and Outlook
Hybrid Seeds - Camson's hybrid seeds have shown an extraordinary commercial performance. The company's hybrid ice-box watermelon and is the first of its kind by an Indian company, has met with great success among farmers. With a waiting period for its seeds, the 5 varieties of the ice-box watermelon distinguish themselves from normal varieties with their deep-red, non-leaky and crisp and crunchy flesh, with TSS (Total Soluble Solids) of over 14%.
The company has also received a very encouraging response for its tomato seeds and hybrid seeds for a variety of chillies ranging from fresh and dry chillies to chillies for making pickles and 'bhajjis'.
Camson has commenced an additional research station at Aligarh, to help breeding of better hybrids suitable for different climatic zones. The company has demonstrated excellent results for their tomato seeds, Ganga, that has been proven to give a yield of 55 metric tonnes per acre.
Biocides and bio-fertilizers - Camson is strengthening its market dominance in the biocides market, a replacement for chemical pesticides, with its eco-friendly biocides gaining acceptance with farmers. The company plans to launch 2-3 more variants in the next quarter with more innovations in the biocide segment in the pipeline for the year ahead.These variants cater to the control of fruit borer and mealy bugs. Having tested the products extensively across various geo-climatic conditions the company is very confident about their acceptance in the farmer community.
There has been a huge demand for Calbahar, Camson's granular biocides, which controls nematods, white grubs and soil pathogens, which in turn leads to crop yield enhancement and quality.
This year, the company launched Calbahar Concentrate which will help farmers who cultivate using drip irrigation.
The company's bio-fertilizers also helped farmers experience higher productivity per acreage and reduce the cultivation cost by reducing the usage of synthetic fertilizers. Its "zero-residue" concept has been well-received by both the consumers and the farmers.
Encouraged by the overwhelming response from the farming community, Camson would add 10 lakh litre capacity per shift per annum at Nangal in Himachal Pradesh to manufacture granular and liquid biocides and bio-fertilizers. The factory will help ramp up production significantly.
About Camson Biotech
Established in 1993, Camson combines latest knowledge of breeding, molecular genetics and metagenomics in agriculture with the latest practices in environmental safety and protection to market a wide range of products that include hybrid seeds, bio-fertilizers and biocides that are non-poisonous, eco-friendly and residue-free. Headquartered in Bangalore, Camson employs the best talent in the industry to bring innovative biotechnologies to farmers. Partnering with rural farming communities, government agencies and corporate houses in India, Camson aims to empower farming communities through need-focused research and development.