UPL chief managing director Rajju Shroff on Wednesday said the company is open to strong acquisitions and added that the firm has been able to "turn around every acquisition profitably".
"Whatever we do, we believe that in India, we have the best talent available. All we have to do is use our scientists, our engineers are equal to best in the world and we have been utilising this talent and that is why whenever we go abroad, whenever we acquire company, we have successfully turned it around and made it more profitable. So future of our company is very bright not only in the world but in India. India is the second largest producer of food in the world. Our last year turnover record into World Bank was 401 billion, that is our agricultural production but the input industry has unlimited scope," said Shroff.
Elaborating on the strategies with regards to acquisitions, he added, "We are all over the world, from Vietnam, Australia to USA to Europe and to Latin America. We have a big team, which goes and studies, which are the companies in trouble and which are the companies with good advantage with us. We see the weak points and plus points and then we acquire. We will be acquiring a few companies but we do not know whether it will be six months or two years."
When asked about the amount set aside for acquisitions, he said, "There is no special amount. It depends on company size and advantage."