CEO Insights Magazine

If we consider the protein and supplement requirement of live stocks around the world, there has and always will be a demand for livestock feed supplement products. While there have been many brands across India for the same, most of them sell routine products due to their lack of technical knowledge. Natwar Patel, Founder, Neovet Formulations has completed his B. Pharma and is an expert in livestock supplement manufacturing thanks to his extensive experience in consulting firms regarding supplement formulations. His out-of-the-box approaches have helped the firm lead the Indian market as a leader of livestock feed suppliers and the firm is presently targeting to expand in the global market.

In an exclusive interview with Neovet Formulations, Natwar shares his early education and experience, his future roadmap for the firm, and much more.

Shed some light on your professional background and experience. What inspired you to establish Neovet Formulations and what drives you today?
After completing my B. Pharma from Kakatiya University, Warangal in 1992, I came to Hyderabad to start Pharma based organization. I used to work as a production manager for many companies and the experienced I gained helped me in doing consultancy for some firms. After doing consultancy for 3-4 years before starting my manufacturing unit, Neovet Formulations, in 2010. Though we offer poultry, veterinary, and aqua feed supplements, presently we are offering only aqua feed supplements. As our product comes under the agricultural unit, there are no tax-related or government-related issues, which motivated me to venture into this field.

Define Neovet Formulations as an

organization and its position in the market? What is the unique proposition that your organization offers to its clients?
Neovet Formulations is a manufacturer of a wide range of products such as Aqua Feed Supplements, Poultry Feed Supplements & Veterinary Feed Supplements, Calcium Peroxide, EDTA for Aqua Use, Disinfectants and Suppliers of Sodium Perborate, Magnesium Chloride, Potassium Chloride, Calcium Chloride, Magnesium Sulphate, BKC (50 percent & 80 percent), and more. We have been delivering supplies throughout India to places like Pondicherry, Kerala, Gujarat, Andhra Pradesh, Telangana, Odisha, West Bengal, and so on. We formulate products keeping the market standards in mind and also strive to incorporate the specifications provided by the customers.

Out of the 300-400 companies located in Hyderabad, the majority of the organizations are supported by sheer marketing. Only 4-5 companies have a technical base and support and Neovet Formulations is one of them. This helps us manufacture products based on clients’ requirements while others are still providing the routine products.

What are some of the major challenges you have experienced in your journey so far? As the breeding ground of your company, how has been Hyderabad favoring you so far in your operations?
Initially, we started with Poultry products. However, couldn’t gather momentum for it so presently we are offering mostly aquafeed products. Even there are many organizations in the market competing with us. However, our higher-quality products have helped us stay ahead of the curve. Presently we are doing 3rd party manufacturing for almost 40 organizations. Even during the pandemic times, our firm is running smoothly as there have been government exemptions on

agriculture-based products manufacturing and our products also fall in the agriculture-based product category.

Hyderabad is considered the pharma as well as the chemical hub because of the smooth availability of the raw materials, man powers as well as the environment. Even though the end products are available throughout India, people still prefer only Hyderabad-based aqua feed supplement products mostly because the lukewarm environment of Hyderabad suits the manufacturing of these products and helps them last longer.

Going forward, what is the future roadmap you have set for your organization, and what are the opportunities that you foresee? What advice would you give to the budding entrepreneurs in the same industry?
Being one of the leading and established organizations in the local market, we are presently focusing on exporting and by which, we are planning to expand our business around 5-10 times. We have already started exporting to Dubai and will be soon exporting to Bangladesh, Sri Lanka, Vietnam, Singapore, and so on.

The advice I would like to give to the budding entrepreneurs in this industry is that they can start their firm without any worries as there is a bright future and scope in the supplement manufacturing market. With more foreign-based companies buying from India and the exports, anybody with a related technical background can start their firm and will be going to have a bright future.

Natwar Patel, Founder, Neovet Formulations
After completing his B. Pharma, Natwar came to Hyderabad and started his livestock supplement manufacture unit, Neovet Formulations. Because of the high-quality products as well as customized supplement formulation based on client requirements, Neovet is a national leader in aquafeed supplements and presently the firm is targeting to expand globally.

Favorite Cuisine:South Indian
Favorite Book:Autobiography of a Yogi by Paramahansa Yogananda