Business Other News 30 Aug 2016 Listing of Godrej Ag ...

Listing of Godrej Agrovet not in immediate future: Adi Godrej

PTI
Published Aug 30, 2016, 5:12 pm IST
Updated Aug 30, 2016, 5:24 pm IST
He indicated that the Group would come out with "more innovated products" in future.
Adi Godrej
 Adi Godrej

Hyderabad: Godrej Group would look at listing animal feed and agri-business company Godrej Agrovet, though no time frame has been proposed for the exercise.

"We will look at it at the right time but not in the immediate future," Godrej told PTI when asked if there were any plans for Godrej Agrovet to be listed. He added that there is no time-frame for the proposed exercise.

 

Speaking on inorganic growth plans of the Group, he said it has made several acquisitions during the last ten years. "Even in the last one year, we have had two acquisitions in Godrej Agrovet and two acquisitions in Godrej Consumer Products.

We will continue to look at more acquisitions both in India and internationally," Godrej said. Godrej Consumer Products is looking at developing world - Asia, Africa and South America - for suitable and strategic acquisitions, he said, adding that the company is looking at potential candidates.

 

He indicated that the Group would come out with "more innovated products" in future.

Noting that India is the fastest growing major economy in the world, Godrej said the country's progress should be very good in the next few years, especially with good monsoon and GST coming in.

"We (Godrej) are one of the largest consumer marketing companies in India. So, we have great scope in meeting the needs of our consumers and we should concentrate on more innovative products that will better meet the needs of our consumers," he said.

 

"There are many growth opportunities but we are not looking at totally new sectors," he said. On Patanjali's growing marketshare and its competition to FMCG companies, Godrej said: "They are in certain areas, especially atta, ghee and some branded consumer products.

So, I think they have done very well, and they are expanding quite rapidly but I wouldn't say they are any threat to FMCG sector".

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Location: India, Telangana, Hyderabad




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