AgroPages-Insecticides (India) eyes Rs 1,200 crore revenue this fiscal-Agricultural news

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India’s leading agrochemical firm, Insecticides (India) Limited (IIL) hopes to clock a business turnover of Rs 1,200 crore during this fiscal on the back of launching of new products, a top official of the company said.

“We are hoping a business turnover of Rs 1,200 crore by the end of this fiscal on the back of introducing some new molecules this year. These new molecules will come out at our new R&D centre at Bhiwadi plant with a joint collaboration of a Japanese company- OAT Co. Limited,” IIL managing director Rajesh Aggarwal said.

He also said that an ultra modern R&D center is on pipeline, which will come up at Chopanki of Rajasthan in collaboration with the same company.

Talking on the business status in state, Aggarwal said the company hopes a turnover of Rs 17 crore from the state by this fiscal. The turnover of the company in last fiscal stood at Rs 14.5 crore in the state as compared with Rs 864 crore of total business.

“We are hopeful of 20-25 per cent growth rate in our total business in next three years. The company is exhibiting a growth rate of more than 25 per cent as of now,” he added.

“We are working to expand our footprint in Orissa, where our navratna products are getting good response. We are aiming to generate a sizeable business from the state in near future. Our new products such as Pulsor and Hakama will definitely help in boosting our share,” Aggarwal said adding that it is also going to launch its first bio product ‘Mycoraja’ in the state soon.

The company, which owns six manufacturing plants in country and two R&D centres, produces 12,000 metric tonne products and 75,000 metric tonne of formulations. The company has 60 distributors across the state with more than 1,000 dealers dealing with the farmers.