Sector: Agri-Input /Small-Cap | Earnings Update 1QFY19 Background: Kaveri Seeds is the largest producer of hybrid cotton seeds in India with a market share of ~15%. Kaveri Seeds has access to 60,000 acres under seed production, with farms in Karnataka, Andhra Pradesh and across the country. In the last five years (FY13-18), company's standalone revenue and PAT have grown at a CAGR of 1.6% and 10.4% respectively. The company has a pan-India presence with a strong distribution network of ~15,000 distributors (direct & in-direct) and retailers across 15 key states in India (up from 11,000 - 4 years ago). Kaveri has 26 warehouses at strategic location with a combined storage space of ~600,000 sqft. The company has a marketing team of ~200 professionals....