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Kaveri Seeds expects margins to improve slightly in coming quarters

Updated : August 14, 2019 01:29:46 IST

Kaveri Seeds' first-quarter earnings were largely in-line with an improvement in margins. Mithun Chand, executive director, said the company has started the FY20 well in terms of the overall revenues.

"In cotton, we have grown by more than 12 percent in terms of the volume and overall as a company we have grown by 12 percent in terms of the revenues. EBITDA margins have slightly improved compared to the previous quarters,” he said.

“Last year, the company as a whole, we had 52 percent contribution from cotton and 48 percent from non-cotton. This year we see a much better contribution from non-cotton segment. Overall, as a company we see less than 50 percent of cotton contribution this year,” he added.

In terms of margins, Chand said, “Margins have been much better than a non-cotton segment. So year on year (YoY) and on a quarter on quarter (QoQ) basis, margins should be attractive in coming quarters. Overall, the majority of the revenue is contributed in Q1 itself but in terms of the contribution of the margins, it might slightly improve in the coming quarters.”

“We have given a growth guidance of between 15 percent and 20 percent and we are in line with our anticipation of the estimates,” he further mentioned.

Published : August 14, 2019 01:29 PM IST

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