Jai Shroff, Global CEO of UPL, in an interview with CNBC-TV18, said the company is by far the largest player in agriculture solutions and technology in the country and will continue to grow at 10-12 percent a year.

"We have to grow $500 million a year in revenues,” he said.

“We have created a network of partnerships in India around the world to continue to supply us products so we can continue to grow.”

“We were a bit anxious during the pandemic like all other corporates and we had raised a series of capital debt in the international market.”

“Agriculture sector has been one of the best performing sectors during this time and we are quite confident that the prospects for our industry are good.”

UPL is sitting on Rs 10,000 crore of cash on the balancesheet. “We are quite comfortable with the situation. We believe that the world is going to normalise very soon. So we are retiring some debt which was overhang on the balancesheet. We have committed to the market through our investor community that we will deleverage the balancesheet ongoing and we have committed that we will do more than half a billion dollars of debt reduction this year,” he mentioned.

“The business is growing well and we belive that our debt reduction programme will continue smoothly,” he said.

For entire discussion, watch video...

(Edited by : Bivekananda Biswas)

First Published:Dec 3, 2020 5:45 PM IST