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Godrej Agrovet plans capex of Rs 500 cr for FY23

Friday, 13 May 2022
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Godrej Agrovet (GAVL) is doubling its capital expenditure to more than Rs 500 crore in FY23. 
 
The company also plans to make major investments in Astec Lifesciences, the agrochemical active ingredients subsidiary. It has been incurring a capex of Rs 200-250 crore annually in recent years. 
 
Of the planned Rs 500 crore, more than Rs 300 crore will be invested in scaling up Astec Lifesciences. The rest will be infused in marginal capacity expansion of other business. 
 
Similarly, the company also has two to three more platforms in which it wants to invest. A research and development (R&D) centre is coming up at Rabale with an investment of Rs 125 crore. 
 
The company expects to commissioning the R&D centre for Astec in October 2022, which will be almost triple the existing facility in Dombivili.
 
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