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Prism Crop Science Pvt Ltd, a 10-year-old agri inputs company, will launch a ₹15-crore manufacturing facility in Yadadri Bhuvanagiri district.
“The facility will manufacture organic nutrients and formulations. We are going to launch 40 new products this year, taking the total to 100 products,” Yugendhar Rao, Managing Director of the company, has said.
The firm, which has registered a turnover of ₹69 crore in 2017-18, is targeting to double the turnover to ₹140-150 crore on the introduction of new products.
The new line of products will also include pheromone lures, which can be used to attract and trap the male pink boll worms in cotton crop. “About 8-10 lures are required for an acre costing about ₹600,” SP Raja Sekhar, Director of Prism Crop Science, said.
The firm is also looking at raising funds through equity dilution. “The core promoters will, however, have the majority stake after the dilution,” Raja Sekhar said.
The company, which has about 150 employees, will hire 50 people in the next few months. He said the company was looking at export opportunities. “To begin with, we are planning to export our products to China,” he said.
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