IFFCO Kisan registers 30% jump in cattle feed business in Q1
IFFCO Kisan sold cattle feed amounting to Rs 49.13 crore in Q1 FY22, thus registering a growth of 29.73 per cent. It sold 24,756 MT of cattle feed during this period, a growth of 28.24 per cent in terms of volume.
IFFCO Kisan Sanchar Ltd, a subsidiary of the Indian Farmers Fertiliser Cooperative Limited (IFFCO), has registered tremendous performance in the cattle feed business during the first quarter (Q1) of the current financial year 2021-22 (FY22).
A press release issued by IFFCO Kisan on July 27 says that during April-June, the company sold cattle feed amounting to Rs 49.13 crore, thus registering a growth of 29.73 per cent. The company had sold cattle feed amounting to Rs 37.87 crore during Q1 FY21.
The IFFCO Kisan cattle feed sale volume has also seen substantial growth of 28.24 per cent. According to the release, it sold 24,756 MT of cattle feed during Q1 FY 22 as against 19,303 MT during Q1 FY21.
Ganesh Dash, National Sales Head, IFFCO Kisan, said, “We are glad to announce that we could mark a commendable growth number with our cattle feed business in Q1 even though we witnessed a hard time in the market, hit by the second wave of Covid 19, during Apr-Jun 2021. We are overwhelmed with the customer response to our product and their trust in our brand.”
The business started picking in the month of June as the number of Covid cases started declining. IFFCO Kisan sold 10,000 MT of cattle feed during June.
“IFFCO Kisan cattle feed is manufactured with high standards of manufacturing and as a result, we are receiving good response from customers across the country,” Dash added.
During fiscal 2020-21, in its first full year of operations, IFFCO Kisan sold 1 lakh MT of cattle feed valued at Rs 160 crore. The company entered the compound cattle feed business on a pilot basis during FY20. Cattle feed contributes about 30 per cent of the total business of IFFCO Kisan and is a major focus of its growth.
The Delhi-based IFFCO Kisan currently sources cattle feed from several third-party manufacturers and is planning to further widen its tie-ups as well as consider setting up its own feed manufacturing facilities.
“IFFCO Kisan works closely with farmers. The raw material is sourced directly from the farms, which makes it easier to keep a check on the quality. All our manufacturing units are accomplished with in-house laboratories to check the quality,” Dash added.
Besides quality assurance, the farmer gets a fair price for the produce since intermediary bodies aren't involved. IFFCO Kisan benefits the Farmers on both sides: quality cattle feed and fair price for their produce.
Elaborating about the reasons for the company’s phenomenal growth, Dash said, “There is ever-increasing awareness among the farmer community to use quality cattle feed. Sub-standard adulterated products have serious negative implications on cattle health, including the increase in cattle mortality rate, growing number of miscarriages in cattle, and delayed conceiving (with more than 100 days of dry period). IFFCO Kisan cattle feed is a balanced composition formulated for improved cattle health and milk quality."
IFFCO Kisan was created by the collaboration of IFFCO with Bharti Airtel and Star Global Resources. It operates in four major verticals — smart agriculture solution provider; cattle feed business; agri tech; and telecom and call centre services.