15 September 2016 | Features | By BioSpectrum Bureau
BioSpectrum Ranking Survey: Rank 8: Mahyco
MD: Raju Barwale
Total Revenue: Rs 471 crore
Maharashtra Hybrid Seeds Company (Mahyco) is focused on research and development, production, processing, and marketing of seeds for India's farming fraternity of approximately 115 products in 30 crop species including cereals, oilseeds, fibre and vegetables.
Mahyco is also developing genetically enhanced crops with use of gene transfer technology. Headquartered in Jalna, Maharashtra, Mahyco has a national presence with network across the country.
Founded in 1964, Mahyco is the pioneer of high quality hybrid and open pollinated seeds. Through the use of cutting edge technology and intensive research activities, Mahyco has revolutionized the agrarian face of the country.
Continuing its growth story, the firm clocked Rs 471 in revenue in the FY15-16 against Rs 423 crore in the FY14-15.
In addition, the firm completed the acquisition of subsidiaries of Quoton in Tanzania and Malawi for cotton seed business.
Despite its growth and expansion, the company remains unchanged at its core. It is still driven by a visionary zeal and the belief that it is possible to improve the lives of farmers by using science to develop superior quality agricultural products.
Earlier this year, Mahyco and Arcadia Biosciences announced achievement of a pipeline advancement target in the development of salinity tolerant rice.
In two years of initial field trials, rice varieties with Arcadia's salinity tolerance (ST) trait showed that double-digit yield increases under saline conditions with no loss of yield under normal conditions. Mahyco will be advancing these ST rice lines into their trait introgression program and conducting further multi-location field trials to validate trait performance, a significant step in product development and commercial advancement for both companies.
On the firm's future plan, the firm says, "We have several new products in the research and regulatory pipeline. If the regulatory and policy environment in India for biotech is supportive, we are optimistic of bringing them to our farmers. We believe based on the green house trials that some of these products have large potential to benefit the farmers like BT cotton technology."