Undeterred by the societal pressure, Aksay laid the foundation of his fertilizer company with the internship money he received during his college. His family was uncertain and doubtful about his endeavours but through his successful experiments he proved his capability of running s business. The present valuation of Akshay’s company is Rs 40 crore.
Lucknow: Akshay Srivastav’s parents found it upsetting when he shared his plans of making fertilizers after the completion of his graduation. His parents had dreamed of seeing him as an engineer, but Akshay’s interests lay somewhere else. Somehow, Akshay convinced his parents and started his venture in 2020 with an investment of Rs 10,000. Initially, he made 5 kilograms of organic manure and when he received a good response, he laid the foundation of his own fertilizer company. Currently, his plants produce almost 450 tons of organic manure, and the company has a turnover of Rs 40 crore.
The beginning
Akshay’s interest in organic fertilizers began in 2017, as he observed the challenges faced in agriculture and the excessive use of chemical fertilizers.
He had studied Chemical Engineering from Mandan Mohan Malviya Engineering College, Gorakhpur. In his first year, he learned about the harmful effects of chemical fertilizers. He wanted to find eco-friendly alternatives to these fertilizers and started with his experiments in his third year. His interest in farming led to the establishment of his successful organic fertilizer business.
5 kg compost the first time
Akshay had family and societal pressure on him; he had requested his family members to give him some time to start his business. He began with a small step, as he made a 5 kg model for the first time in January 2020. He had earned Rs 10,000 from an internship he did at his college; the sum was invested in his business. During the testing of the fertilizers, he found out that all the 9 essential elements were there in the manure. His progress was slightly slowed down because of the lockdown but he didn’t give up.
Fertilizer plant in Kushinagar
Akshay shares that he received his first order from Etah. He completed his orders by delivering the products through bus and train transportation. Gradually, he expanded his business and made a setup to produce 40 kg of manure. He named his company ‘LCB Fertilizer’. Today, his plants have the capacity of producing 450 tons of manure. Akshay received support from IIT Kanpur in his business.
Environmentally conscious
Akshay shares some statistics that on an average a farmer spends Rs 6,600 on one acre of land including irrigation, fertilizers and the labour. However, after making use of his fertilizers, a farmer can reduce the cost up to 30%; the expenses drop to Rs 3,500 to 4,000 per acre. Each bag of the fertilizers from LCB costs Rs 300. This not only reduces cost but also increases crop yields by 15 to 35 percent.
The use of his fertilizers has led to a more efficient use of water in agriculture. Instead of irrigating every 25 days, the pattern has changed to a 35-to-40-day interval. This saves water while giving a better produce.
Supply to 9 states
Akshay has connected with farmers over 9 states. At present, his factories are in Kolhapur, Maharashtra, Tamil Nadu, Karnataka and more. He wishes to expand his business to Madhya Pradesh and Chhattisgarh in near future.
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