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Mumbai, Apr 4 Rice miller Usher Agro is eyeing 82 per cent growth in revenue at Rs 1,000 crore by the end of this financial year on the back of its recent rice milling capacity, a top company executive has said.
“We have recently expanded our rice milling capacity by 2,91,600 million metric tonnes per annum (MTPA) taking the company’s total capacity to 5,43,600 MTPA. With this expansion we are targeting a revenue growth of around 82 per cent at Rs 1,000 crore in FY 12,” said Mr Vinod Kumar Chaturvedi, MD, Usher Agro.
The company had spent Rs 80 crore for rice milling capacity expansion in its unit at Chhata in Mathura (Uttar Pradesh). Usher Agro is expecting to clock around 61 per cent growth in revenue at about Rs 550 crore in FY 11 compared to Rs 342 crore in 2009—10 fiscal.
The company is also planning to increase its wheat flour milling capacity in its plant in Buxar, Bihar, by 50,000 MTPA next year taking the total to 1.25 lakh tonne, Mr Chaturvedi said.
“The capacity expansion in our Buxar plant will take one year to complete, which will also require a captive power plant. The overall cost for this will be around Rs 50-60 crore,” he added.
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