Insecticides India net profit up 14% for FY 2010-11

Insecticides (India) Limited, one of the fastest growing companies in agrochemicals Industry, posted a 20 % rise in revenues and a 14 % jump in the net profit for the FY 2010-11, over the previous year.

While the company saw its net profit touching Rs 3221 Lacs for FY2010-11, against Rs 2821 Lacs during the corresponding period of last year, its net sales increased by nearly 20% to Rs 47790 lacs in the FY 2010-11.

Mr. Rajesh Aggarwal, Managing Director, Insecticides (India) Limited, said: "We have set an ambitious target of raising our turnover multiple times in the next five years. We have already started the commercial production at our units at Udhampur(J&K) and Dahej (Gujarat) recently."

Within just nine years after its plant went on stream in 2002, Insecticides (India) Limited has emerged as one of the fastest growing companies in the country's agro-chemical space, recording a CAGR (compounded annual growth rate) of about 48 per cent.

Its R&D team, has developed more than 20 technical processes, and has also started research in biotechnology and set up a new biological laboratory. Company recently bagged NABL accreditation also for its R& D centre. IIL has already files four patents, and major breakthrough is inventing a new process for MNIO, for which IIL has done a tie up with NRDC (Ministry of Science and Technology) for scaling up and commercialization of the process.

The company, engaged in the manufacture of all types of insecticides, fungicides, weedicides, herbicides, plant growth regulators for all types of crops and also household pesticides, fully geared up with its new plants to cater to the needs of Indian farmers.