As it celebrates the golden jubilee year, Nuziveedu Seeds Limited (NSL) is aiming at doubling the turnover in the next 4-5 years. The company, which registered a turnover of ₹1,100 crore in FY23, said the growth would be led by over 30 different categories of seeds that it introduced in the last 2-3 years.

The company, a top-3 firm in the cottonseed industry, has a market share of 15-16 per cent.

“We used to have over one-third market share in this segment till 10-15 years ago. We would like to bounce back to 30 per cent in the next 2-3 years,” M Prabhakara Rao, Chairman and Managing Director of NSL, has said.

The company has 13 processing facilities and 29 cold storages and warehouses in 10 States, with over 500 employees working with one lakh seed-growing farmers. It further said it is serving over 50 lakh farmers in 18 States, according to P Satish Kumar, Executive Director of NSL, said.

He said the company has spent about 5 per cent of its revenues on research and development, which resulted in a strong portfolio of seeds.

Jute alternative to single-use plastic

He said the company has been working on a jute variety that can be used to develop products as an effective alternative to single-use plastic which emerged as a menace to environment.

The NSL chairman said the company has also developed new varieties in paddy (basmati and fine grain), which promise to improve yields significantly.

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“The Indian seed industry is among the fastest seed industries in the world. While the global seed industry is growing at 5-6 per cent, the ₹20,000-crore Indian seed industry is growing at 10 per cent. We at NSL is aiming at grow at 19-20 per cent in the next 3-4 years,” Sharat Khurana, Chief Commercial Officer of NSL, said.

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