Mahindra Agri Solutions Limited, a subsidiary of Mahindra Group is eyeing a revenue of $200 million by 2030..
The business under Mahindra Rise Farm Equipment Sector does exports of grapes, seed potato, crop care and seeds. In FY25, the company is expecting a revenue of $100 million.
“We want to grow and be consistent in the Agri business. Scalability and profitability are important for Mahindra. In the Agri business, there are different businesses with separate market growth targets. We aim to double the size in revenue in the next five years,” Ramesh Ramachandran – Managing Director & CEO, Mahindra Agri Solutions Ltd (MASL) told businessline.
The business exports table grapes to North America, Europe, China and SouthEast Asia since 2005 and contributes 20 per cent to the overall Agri business with ₹150 crore revenue.
The company is planning to grow its export network and introduce grapes in the domestic market. The company is also eyeing to pilot other horticulture categories including apples and pomegranates.
For their grapes export business, the company works with over 500 farmers in Nashik, Baramati and Sangli in Maharashtra.
“We have the ability to operate a high quality supply chain, it is 20 years in the making and we are able to supply high quality grapes. We have good relationships with buyers in premium markets. Grapes are a commodity with price fluctuations and we have to define growth in a way that enables us to have some predictability for the future. We will scale in the grapes business with more fixed prices,” he said.
Partnership
MASL is looking to partner with organisations for the development of its fruit business and is also open for inorganic growth
“In the business we are looking to partner with people who have access to varieties in fruits. It is in our DNA to grow through partnerships and alliances. Inorganic growth is an option and we will decide when an opportunity arises in all agri business,” added Ramesh Ramachandran.