Lakshmi Overseas eyes Rs 100 cr revenue from exports

New Delhi, Sep 30: With the export of non-basmati Indian long grain rice, Lakshmi Overseas Industries Ltd is eyeing to achieve exports turnover of Rs 100 crore this fiscal.

The company's export will not attract any taxes (VAT, market fee and many more), which will greatly benefit it in boosting its profitability, it said in a statement.

With the commissioning of new 120 million tonnes (MT) per hour paddy processing plant, the installed capacity of the plant has been raised to 1.35 MT of paddy per annum.

Its automatic packaging unit for the retail market products with ultra modern facilities has also been commissioned.

The company will procure at least one MT of paddy during the procurement season in the current financial year. The process has already been started.

UNI