Nuziveedu Seeds aims 2x market growth in next 4 yrs

Hyderabad: Nuziveedu Seeds Limited (NSL) has set an ambitious target to double its revenue over the next 4-5 years, said Dr M Prabhakar Rao, the chairman of the NSL Group and the Managing director of NSL seeds. It has achieved 15 per cent growth in its revenues at Rs 1,100 crore in FY 2023 from Rs 950 crore in FY 2022. He spoke to the media on the occasion of the company celebrating Golden Jubilee this year. He said, “NSL has completed 50 years of service to the farming community. We extend our heartfelt gratitude to all the farmers, our seed producers, channel partners, scientists, government officials, industry peers and our employees who have worked with us at any point of time for making us stand in the shape we are in today.”

Prabhakar Rao further said: “While the global seed market is growing at 5-6 per cent year-on-year (y-o-y), Indian seed market is growing at 10 per cent y-o-y. The organised seed market in the country stood at Rs 20,000 crore, and NSL has a significant share in that. We are leaders in cotton seeds, which contribute 45 per cent of the company’s revenues.”

“In the cotton seed market of the country, our company used to have 30 per cent market share up to 2010. However, we are now having only 16-17 per cent market share, but we are confident that we will regain 30 per cent market share within next three years. We have started research on oil seeds like sunflower and mustard. We will soon develop jute seeds also,” he informed.