Camson Biotech: Q2 & H1 FY2011 Results Release
Camson Biotech delivers 15.18% Q2 Sales growth and 10.33% for H1
The shift in preference for natural farming products has increased demand for biocides & bio-fertilizers
Q2 FY2011 results compared with Q2 FY2010 results:
H1 FY2011 results compared with H1 FY2010 results:
Mumbai, November 14th, 2010: Camson Biotechnologies Limited declared a total income of 23.05 crore in the second quarter, a rise of 15.18% over the last years’ corresponding period total income of 20.01 crore. Moreover, the total income of H1 FY 2011 also showed a growth of 10.33% to 43.76 crore from 39.66 crore in the corresponding period of the last year. Camson Biotechnologies Limited’s net profits fell by 20.22% to 3.15 crore in the second quarter ended September 30, 2010 from 3.95 crore in the same quarter last year. But, overall the net profit growth in H1 FY 2011 was up 9.12%, to Rs 8.55 crore from Rs 7.84 crore last year.
The company during the quarter invested significantly in growing its pan India marketing and distribution presence. It also recruited senior and middle level people to beef up its employee strength to meet its growth expectations. The decline in profit was mainly due to this rise in expenditure. We expect this to bear result in this and the next quarter’s performance
Commenting on the results, Dhirendra Kumar, Founder and Managing Director, Camson Biotech said, “At Camson, sustainable agriculture in harmony with environment is a key mission and the goal is to deliver healthy food to the Indian consumer. Increasing awareness in the farmers to zero residue biocides and unique hybrid seeds has grown the demand for Camson Biotechnologies’products to their current level.”
Further, Mr. Kumar added “In this quarter, we have significantly invested in marketing and distribution programs and added employees to strengthen our leadership position as agro-biotech producers. This has resulted in increased expenses. But, I am sure the benefits of this will be evident in the next few quarters. We have also started projects for enhancing the production capacity of the company to meet the expected acceleration in demand for our products in the near future.”
The farming trend indicates a noticeable shift towards environment-friendly inputs. Camson Bio Technologies’ with its commitment to producing zero-residue biocides and bio-fertilizers hopes to strengthen this trend further. Camson’s international foray is also taking shape with preliminary visits by the senior management to meet probable partners in Latin American countries. The company is confident of developing a robust international business through the Joint-Venture route.
Hybrid Seeds – Camson’s hybrid seeds have shown a continuously high commercial performance. With several weeks of waiting period for the seeds, the 5 varieties of freezer watermelon, like Netravati and Vedavati, distinguish themselves from the normal varieties. Their deep-red, non-leaky, crispy and crunchy content, with TSS (Total Soluble Solids) of over 12-14%, set them apart from the others. The plant matures in 75-80 days and has thick foliage with fewer seeds. More recently, the company has launched a Sonmati variety of water melon, which is the yellow/golden skin water melon.
Biocides and bio-fertilizers – The continuously increasing demand for biocides and bio-fertilisers in India, in lieu of chemical fertilisers, indicates that there is a significant shift taking place in Indian agriculture. By developing and providing economic, sustainable, safe and effective agricultural solutions, Camson Technologies has placed itself at the forefront of this movement. It intends to aggressively pursue the opportunities in this space.
Camson Bio Technologies has built up its position on innovation-led R&D, for developing better quality agro-products for crop protection and higher yield hybrid seeds. It remains focussed on this approach. While, it has one more research station at Aligarh in Uttar Pradesh, besides the one at Dodaballapur in Karnataka, it is currently setting up a state of the art manufacturing and production facility at Nangal in Himachal Pradesh. This will cater exclusively to the Northern Indian markets.
About Camson Biotech- Established in 1993, Camson Bio Technologies combines the latest knowledge in breeding, molecular genetics and metagenomics in agriculture with the latest practices in environmental safety and protection, to market a wide range of products spanning hybrid seeds, bio-fertilizers and biocides. These are non-poisonous, eco-friendly and residue-free. Headquartered in Bangalore, Camson Bio Technologies employs the best talent in the industry to bring innovative biotechnology products to the farmers. Partnering with farming communities, government agencies and corporate houses in India, Camson Bio Technologies aims at empowering farming communities by focussing its R&D to their needs.
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Camson Bio Technologies Limited
No. 223, First Main,
Domlur Second Stage
Tel: 0091 080 2535 5138
Fax: 0091 080 2535 2232