NSC aims Rs 600 cr revenue in 2010-11

NEW DELHI: Buoyed by increase in seed production, state-run National Seeds Corporation aims to achieve a turnover of Rs 600 crore in 2010-11, over 27 per cent higher than that in the previous fiscal.

"Last fiscal, despite having a drought, we achieved a turnover of Rs 472 crore and in the current year, it is expected that the company could cross a turnover of Rs 600 crore in the current fiscal," National Seeds Corporation (NSC) Chairman and Managing Director S K Roongta said.

NSC had reported a turnover of Rs 472 crore in the financial year ended on March 31, 2010, against Rs 292.3 crore in the previous year.

Roongta said that seed production is also expected to rise by 20 per cent to 18 lakh quintals in 2010-11 fiscal against 15 lakh quintals in the last fiscal.

Speaking about the company's future plan, he said NSC is also working with other national research-based organisations like Indian Agriculture Research Institutes for developing hybrid seeds for arhar, maize and sunflower.

"Field trials for these cropseeds are expected to begin in a year while they would reach production stage in next three years," Roongta said.

Asked whether the company has any plans to foray into genetically modified seed business, he said, "We don't have infrastructure for that."

Set up in 1963 under the aegis of Agriculture Ministry, , NSC undertakes production, processing and marketing of agricultural seeds. Its product range include cereals, pulses, oilseed, fodder, fibre and vegetable crops.