Hindustan Insecticides enters fertiliser business

State-run agrochemical firm Hindustan Insecticides Ltd (HIL) has entered the fertiliser business by signing an agreement with public sector undertakings NFL and RCF and is aiming at Rs150 crore from urea sales over two years. The Department of Fertilisers has already certified HIL as importer of decontrolled phosphatic and potassic fertilisers.

“HIL has signed an agreement with National Fertilisers Ltd (NFL) to sell and market its urea in states of Odisha and West Bengal, similarly an agreement has also been signed with Rashtriya Chemicals and Fertilisers (RCF) to sell and market its urea in Odisha and Assam,” said the company’s Director - Marketing SP Mohanty.

He added that HIL is looking at sales of Rs 200 crore from phospharic and potassic (P&K) fertilisers and another Rs150 crore from urea in two years.

At present, HIL has three plants, one each in Kochi, Bathinda and Rasayni, with a combined capacity of 30,000 kl per annum of pesticides.

The company also has plans to expand its current capacity. To finance its expansion plans, the company is also looking to sell its 5.6 acres land here for around Rs350 crore. The land is located at Zakhira near the Delhi-Rohtak road.

HIL was incorporated in March 1954 to supply DDT for the National Malaria Eradication Programme, launched by the Centre. Subsequently, the company diversified into agro pesticides, and has grown manifold with a turnover of about Rs340 crore in the last financial year.