DFPCL targets Rs 1,000 crore revenue from farm business in 5 yrs

MUMBAI: Deepak Fertiliser and Petrochemicals is eyeing a combined revenue of Rs 1,000 crore from Agri Business and Farm Solutions (ABFS) division and its joint venture firm Desai Foods and Vegetables (DFV) in five years.

"Our business in the ABFS division under which we offer holistic farm solutions including diagnostic and advisory services...is growing every year. We also see a lot of potential in fruit exports through DFV."

"So we hope to reach Rs 1,000 crore turnover in five years," Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) President, Agri Business, Guy R Goves told here.

The company's ABFS division had posted a turnover of Rs 70 crore and Desai Foods Rs 40 crore turnover in the recently concluded financial year.

DFPCL owns 49 per cent stake in a venture with Desai Foods and Vegetables.

Under ABFS, the company manage a diverse product portfolio of fruits and vegetables which are marketed under the brands Saarrthie and DFV's Happy Banana.

"Under these brands, we offer a range of fruits like grapes, banana, mango, pomegranate and vegetables to the UK, Europe (Germany, Netherlands and Norway) and the Middle East (Dubai), besides servicing the organised retail sector in India," Goves said.

Goves said, ABFS is planning to extend its portfolio to other fruits papaya, oranges, strawberry, kesar mango and garlic in future.

The company is looking at 20-25 pack houses on lease and management terms, in the next three years. At present, ABFS has four pack houses in Gujarat and three in Maharashtra.

According to Goves the world is moving away from aerated drinks and the company sees a huge opportunity in fresh fruit drink business and it may look at tapping the processed food business in future.

Talking about DFV, he said: it is the country's leading banana producer focused on both the strongly growing domestic as well as export markets.