Listing of Godrej Agrovet not in immediate future: Adi Godrej

Hyderabad, Aug 30 (PTI) Godrej Group would look atlisting animal feed and agri-business company Godrej Agrovet,though no time frame has been proposed for the exercise. "We will look at it at the right time but not in theimmediate future," Godrej told PTI when asked if there wereany plans for Godrej Agrovet to be listed. He added that there is no time-frame for the proposedexercise. Speaking on inorganic growth plans of the Group, hesaid it has made several acquisitions during the last tenyears. "Even in the last one year, we have had twoacquisitions in Godrej Agrovet and two acquisitions in GodrejConsumer Products. We will continue to look at moreacquisitions both in India and internationally," Godrej said. Godrej Consumer Products is looking at developingworld – Asia, Africa and South America – for suitable andstrategic acquisitions, he said, adding that the company islooking at potential candidates. He indicated that the Group would come out with "moreinnovated products" in future. Noting that India is the fastest growing major economyin the world, Godrej said the country’s progress should bevery good in the next few years, especially with good monsoonand GST coming in. "We (Godrej) are one of the largest consumer marketingcompanies in India. So, we have great scope in meeting theneeds of our consumers and we should concentrate on moreinnovative products that will better meet the needs of ourconsumers," he said. "There are many growth opportunities but we are notlooking at totally new sectors," he said. On Patanjali’s growing marketshare and its competitionto FMCG companies, Godrej said: "They are in certain areas,especially atta, ghee and some branded consumer products. So,I think they have done very well, and they are expanding quiterapidly but I wouldn’t say they are any threat to FMCGsector". PTI RS NRB ANUPTP