Hester Biosciences sees 'very high potential' for growth in large animal business segment
On one hand, we have plans to grow capacities organically, on the other, we are actively pursuing inorganic opportunities in India and internationally, Gandhi said.The company has undertaken extensive market research to ensure that it is present in the right businesses and markets, having a strong growth potential, he added.
Leading poultry and animal healthcare firm Hester Biosciences plans to focus on building on its large animal business going forward, as it sees a very huge potential for growth in the segment.
For the fiscal year 2020-21, poultry healthcare segment contributed 73 per cent to company's revenues, while the contribution of the animal healthcare segment was at 19 per cent, according to the latest annual report of Hester Biosciences. Stating that the company has established a strong portfolio around poultry, Hester Biosciences CEO and MD Rajiv Gandhi said, ''However, I believe it is now time for us to graduate and build our large animal business as we see a very high potential for growth in this area.'' The Government of India is also undertaking large-scale immunisation programmes for cattle, swine, sheep and goat which are a major source of income for the livestock farmers in the country, he added in his message to the company's shareholders.
''In line with this, we have deepened our innovation and capital allocation focussed on the large animal healthcare,'' Gandhi said.
The company is actively partnering with various institutions to get the technology for developing vaccines for the emerging diseases that require attention, he added.
''This year, we have entered into an agreement with ICAR-IVRI (Indian Council of Agricultural Research – Indian Veterinary Research Institute) for getting technologies to develop vaccines for Classical Swine Fever, Sheep Pox and Lumpy Skin Disease,'' Gandhi said.
The registration for these vaccines is in process and, ''we hope to commence the commercial production and marketing for all these vaccines by the end of this financial year,'' he added.
About the company's recently launched herbal product division, Gandhi said it is primarily going to focus on the long-term chronic illnesses in animals, complementing the company's range of allopathic health products, Gandhi said.
''This division is expected to give us substantial results in increasing the topline in the coming financial year,'' he added.
Hester is now in an aggressive expansion mode. On one hand, ''we have plans to grow capacities organically, on the other, we are actively pursuing inorganic opportunities in India and internationally,'' Gandhi said.
The company has undertaken extensive market research to ensure that it is present in the right businesses and markets, having a strong growth potential, he added.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)