Mumbai, May 7 (PTI) Livestock feed manufacturer Anmol Feeds, which is expecting better performance this financial year than 2020-21, is planning to begin exports to neighbouring Bangladesh and countries in Africa in the next financial year, a top company executive has said.
'This financial year we are expecting a much better revenue than the previous year. Our revenue during FY21 stood at Rs 600 crore. In 2020-21, the first quarter was a complete washout following the drastic impact of the pandemic on the poultry industry. However, since July 2020, things have improved,' Anmol Feeds Managing Director Amit Saraogi told PTI.
He further stated that if the unprecedented increase in prices of soybean meal, mainly used for poultry feeds, continues it will have an impact on revenue. The company, which has a strong presence in eastern, northern and north eastern regions, has also been supplying animal feeds to Nepal and Bhutan, he noted.
'We have been supplying animal feeds to Nepal and Bhutan. However, (as per) ...the commerce ministry, it is not considered exports. We are exploring markets in neighbouring Bangladesh and Africa where there is a huge potential. We expect to begin exports of animal feeds to these new markets by 2022-23,' Saraogi noted.
In the domestic market, the company is planning to foray into Rajasthan, Gujarat and the southern markets, he added.
'Besides strengthening our existing markets, we are planning to expand our footprints to Rajasthan, Gujarat, Tamil Nadu and Karnataka,' he added.
Anmol Feeds has eight manufacturing plants across five states and a union territory -- Uttar Pradesh, Bihar, West Bengal, Jharkhand and Haryana, as well as Jammu and Kashmir, with a total production capacity of 1,300 tonnes per day.
The company last year launched fish and shrimp feeds under the umbrella brand Nouriture last year.
Anmol Feeds is also setting up a floating feed plant in Bihar with 10 tonne per hour capacity that is expected to become operational by the end of this fiscal and a shrimp feed plant with 5 tonne per hour capacity in West Bengal that is likely to begin operations by June 2022, Saraogi said.
'The capex for both the floating feed and shrimp feed plants is Rs 50 crore that we have funded through internal accrual and term loan,' he added. PTI SM MKJ