Insecticides (India) plans 7% market share

Insecticides (India) Limited (IIL), an agrochemicals manufacturing company plans at achieving a 7% market share, with a clear focus on the South India market.

In the entire South India region’s pesticide market estimated at Rs.2000 crore, the Karnataka market is pegged at Rs. 400 crore, Insecticides (India) Limited works with around 1200 distributors, preferential dealers and dealers.

Mr. Rajesh Aggarwal – Managing Director & CEO, Insecticides (India) Ltd said: “Our company is targeting sales of Rs.135 crore this year. We are planning to launch a new product at the end of this year which will be more effective on sucking pest & aphids.”

Mr Aggarwal added, “With two new projects coming up at Udhampur (J&K) and at Dahej (Gujrat), we are fully geared up to cater the demand of the market. The pesticides synthesis plant coming up at Dahej is a big project and expected to roll out about 10,000 T.P.A. of technical grade pesticides, and it will involve the investment of about 50 crores.

This will be a multiple stream plant with a capacity to manufacture 5 streams of technical at the same time. This will provide the company with the strategic advantage of backward integration.”

IIL had posted a posted a 34 % rise in revenue and a 21 % jump in the net profit for the quarter ended September 30th, 2010, over the same period of the previous year.