The Hindu Business Line : Aries Agro plans to double turnover

Aries Agro-vet Industries Ltd, a leading manufacturer of speciality and micronutrient fertilisers, plans to expand operations and double its turnover (currently Rs 60 crore) during the current financial year.

At a press meet here on Thursday, Dr T.B. Mirchandani, Chairman and Managing Director, said the capacity of the main plant at Bangalore would be tripled and two more plants set up during the year — one at Lucknow and the other at Sharjah in the UAE. "We have been growing at 45 per cent during the past three years. It is our intention to make Aries a one-stop shop for all agri inputs," he said. He said Aries had 44,000 retail outlets across the country, catering to about 7 million farmers. The company employs 970 persons.

Major markets

Mr Rahul Mirchandani, Executive Director, said Andhra Pradesh and Maharashtra were the company's major markets, with the former accounting for 37 per cent of the turnover. He said the company was setting up a knowledge village on a 100-acre plot, 60 km from Mumbai, to strengthen its R&D base. A model farm would be set up there.

He said the company's products were customised to suit different soil conditions and agro-climatic zones in the country. "For instance, there is a marked zinc deficiency in the soil in the coastal districts of AP.

Besides, paddy needs lots of zinc. So we supply chelamin. The cost per acre works out to Rs 250 or so, but it brings about great improvement in yields," he said.

The main product of the company was, however, Agromin Max, available in 107 formulations.

He said the company would in future take up sale of bio-fertilisers, organic chelates, farm equipment and hybrid vegetable seeds.