Rajju Shroff Curated

founder of crop protection company UPL

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This profile has been added by users(CURATED) : Users who follow Rajju Shroff have come together to curate all possible video, text and audio interview to showcase Rajju Shroff's journey, experiences, achievements, advice, opinion in one place to inspire upcoming industrialists. All content is sourced via different platforms and have been given due credit.

  • Would you be looking to increase the stake in agro UPL from 73% that you did earlier?

    At present we are moving very smoothly, but we may do it looking at the situation.

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  • So how much are you looking to reinvest in the Brazil venture and how much are you looking for to spend with respect to funds for your further capex plans?

    At present we do not have any fixed figure, but in Brazil, the business is growing fast. When we bought this company, it was worth $100 million. Today $250 million is the turnover.

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  • So what do you do with the money? Does this get reinvested in the other Brazilian venture?

    It will be reinvested in the Brazilian venture because it is growing very fast, but we are looking all over world.

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  • So has this been done essentially to get some gains or would you essentially want to concentrate only on one business and therefore gotten out of the other?

    Well, we want to concentrate on other businesses, but we had some gain in this deal also.

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  • Start off by telling us a rationale behind selling stake in the Brazil JV?

    Brazil is one of the fastest-growing markets and we have two companies there. We are going to sell off our shares as we are concentrating more on UPL. So we are getting $58.5 million for 50% stake in Sipcam, which is an originally Italian Brazil company.

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  • How is the India business growing right now? Of late, we saw some pressure in the domestic market. Do you see improvement in the coming months?

    India’s business has been weak throughout this year, but luckily for our company we have a better product line, and hence, we are in a very good position in India too.

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  • Your margins expanded by over a per cent in the third quarter; they were at around 19 per cent. Is there any scope to expand them further? How are you managing such good margins? Will the momentum slow down?

    Not immediately. We see better margins. We are putting our own formulation plants and, thus, all the margins which were going to somebody else, will start coming to us. So our plans are on track.

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  • Your margins expanded by over a per cent in the third quarter; they were at around 19 per cent. Is there any scope to expand them further? How are you managing such good margins? Will the momentum slow down?

    Not immediately. We see better margins. We are putting our own formulation plants and, thus, all the margins which were going to somebody else, will start coming to us. So our plans are on track.

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  • How are you fighting the weakness in the euro; will you be able to counter that with growth and higher market share in any manner or will it be a key area of concern?

    With euro going down, we have increased the prices to make a balance; we have done a thorough job. I do not think that weakening euro would have any major impact on our export figures. There may be a variation of 5-10 per cent, but the fact remains that the markets are growing and we are also becoming more and more competitive.

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  • Tell us about how your key brands are growing right now and are you witnessing any improvement in your market share in the past few months?

    We are clocking good sales. There has been improvement across geographies, whether it is Latin America, USA, Europe or Far East; things are good. We are developing better formulation, better chemical supply and you will be surprised to know that whenever an Indian company enters into a market, big established companies find it difficult to compete with us both in terms of quality and prices. So, the future of the Indian chemical industry, particularly the agro-chemical industry, is quit good. Just as domestic generic makers are expanding their footprints across the globe, once trade patents are over, we too can go ahead.

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