Kaveri Seed Sees Strong Growth In Non-Cotton Seed Portfolio In Q3: ICICI Securities

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ICICI Securities Report

Highlights from Kaveri Seed Company Ltd.’s Q3 FY21 earnings -

1. Non-cotton portfolio i.e. hybrid rice seeds, selection rice seeds and maize seeds reported 58.3%, 13.5% and 52.5% revenue growth in nine months FY21, respectively,
2. cotton business reported revenue decline of 2.5% and
3. the company continues to introduce new products backed by strong research and development which is helping the company to improve realizations as well as margins.

We remain positive on Kaveri Seed with the success of non-cotton seeds and its market share gains in cotton seeds in states like Gujarat and Haryana.

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