Monsanto India Limited
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BSE Code:
524084
NSE Code:
MONSANTO
Business Profile
Business Profile
Monsanto India (MIL), a subsidiary of Monsanto, USA, manufactures agro chemicals and hybrid seeds. It also markets Avadex, a herbicide used on wheat crops. The company acquired the entire share capital of Monsanto Technologies India, a subsidiary of the parent company. Monsanto Technologies India (MTIL) prodcues and sells chemicals and hybrid seeds, research, production, processing and marketing of corn and sunflower hybrid seeds.
The company has a chemical production unit at Silvassa, hybrid seeds units at Bellary and Eluru and a packing unit at Guwahati. MIL`s hybrids account for more than 50 per cent of the corn grown on irrigated land, while in the rain-fed kharif market it has less than 10 per cent of the market. In 2004-05, the company expanded its corn drying facility at Bellary, Karnataka to meet the increased demand of gas dried seeds in local as well as in international markets. Its main thrust lies in bringing quality corn hybrids to the market and helping farmers move from open pollinated variety (OPV) and low value hybrids (LVH) to high value hybrids (HVH). It has undertaken Project HOPE that targets the OPV and LVH areas for conversion to Monsanto`s mid-priced and premium hybrids. Project LINK brings together farmers, corn buyers/traders, users, feed millers, feed companies and Monsanto. Project SHIFT aims at crop conversion with its launch in kharif 2004 through expansion of seed business.
Financials
Monsanto India registered a disclosed that loss for the quarter ended March, 2007 has narrowed.Net sales for the quarter declined 19.39% to Rs 182.50 million for the quarter ended March, 2007 from Rs 226.40 million for the quarter ended March, 2006.Total income for the quarter dipped 10.93% to Rs 233.8 million, from Rs 262.5 million for the quarter ended March, 2006.The loss per share (EPS) of the company stood at Rs 1.99 in the quarter ended March, 2007.
Recent Developments
31-OCT-07
Monsanto India announced that the company sold and transferred the business of developing, germplasm and of producing, packaging, distribution, marketing and sale of sunflower seeds to Devgen Seeds and Crop Technology and / or Devgen, Belgium vide business transfer agreement dated Sep. 14, 2007.
26-SEP-07
Bretco Holdings (Mauritius) sold 3.47 per cent of its stake in Monsanto India thereby reducing their stake from 30.59 per cent to 27.12 per cent. Bretco Holdings sold 3 lakh shares.
Whereas, Monsanto Holdings acquired 3.47 per cent stake in Monsanto India. This has increased their stake in the company from 23 per cent to 26.47 per cent.
14-SEP-07
The board of directors (BoD) of Monsanto India has decided to sell and transfer, the business related to production and sale of sunflower seeds (`sunflower business`) to Devgen Seeds and / or Crop Technology or Devgen N.V., Belgium.
The board decided to sell the sunflower business for a total consideration in Indian Rupees equivalent to USD 3.91 million plus inventory at cost.
Future Plans
Monsanto aims at development of new disease resistant, early maturity and drought tolerant hybrid seeds.