Vibha Seeds, engaged in crop research and seed production among others, is in the process of setting up seed production facilities in China and Australia. The company would also open seed research units in Thailand, Philippines and West Asian countries.
Speaking to Business Standard, chairman and managing director of the Hyderabad-based company Parchuri Vidyasagar said financial details were being worked out and the overseas operations would begin in about six months. A holding company either in Singapore or Hong Kong would oversee the international operations for which Vibha Seeds is in talks with prospective partners. “Restructuring of the company is on the cards,” he said.
The China facility would produce cabbage, cauliflower and chilli seeds apart from reinforcing its presence in lady’s-finger, brinjal, watermelon and gourds. The Australian facility, on the other hand, would focus on turnip and other cole crops (cabbage family).
Vidyasagar said the overseas research plants would come in handy in leveraging Indian crop cycles for carrying out genetic tests. For instance, genetic testing can be done on chilli overseas as the market cycle there differs from that in India, which starts in June. These units would also work on seed traits and test Indian hybrids for the host countries.
“We are now focusing on biotechnology, testing hybrids and overseas expansion,” Vidyasagar said, adding the company had recently invested about Rs 200 crore in creating a modern seed processing facility in about 1 million sft at Jedcherla in Mahabubnagar district. The facility, which will have a processing capacity of 60 tonne per hour, is expected to be ready by March.
The company, which has about 1,200 acre farms for trials, is also planning to set up an institute for plant breeders in Hyderabad to cope with the shortage of skilled plant breeders. The proposed institute will groom local youth in plant breeding techniques with hands-on training. A foundation to train rural youth in farm-related aspects apart from strengthening its extension, farmer education activities and collaborations with universities would come up in three months.
The group reported revenues of Rs 250 crore last year and expects this to touch Rs 400 crore this year on the back of increased patronage to cotton seeds, sunflower, vegetables and cereal crops. “The existing revenue models are good and there is time for going public,” he said, adding the company would first explore private equity funding and strategic partnership routes to fuel its growth plans.
