September 22, 2010

Venky's India eyes global market

Venky's India has plans of entering the international poultry market, said its joint managing director, B Venkatesh Rao.

From a Rs400 crore (US$87.87 million) in FY07, the company stands at about Rs700 crore (US$153.84 million) in FY10.

"I think the market in India is growing by 20% and internationally also suddenly this year we have taken a big jump in all South-East Asian and European countries. The main reason being two in one, internationally we have put up this year and nationally also we have expanded and overall poultry industry usually grows at 10-12% but this year its grown 25%," the director said.

"The rates are stable, the farmers are getting good prices and the raw material basically the maize and soya for the feed ingredients is stable and overall the situation looks better. I think this will go on for next two year span," he added.

Venky's financial performance for the past four years records FY10 as being the highest-at an operating margin of 13.5%.

"Internationally, in the next four days, we are launching in Dhaka, Bangladesh. It is all about poultry with a huge investment of Rs100 crore (US$21.96 million) there and its basically poultry, feeds and vaccines. From there we move on to Switzerland where we have put up a vaccine plant. The launch will take place next year so one by one things are coming up," Rao stated.