Expect newly patented Sofia to increase revenue by 50% this year: Insecticides India

Insecticides India’s stock has been buzzing in trade, and is up 40 percent this month. Last week, the government granted a patent to the company's composition of Hexaconazole and Carbendazim. The company has been selling this composition pan-India under the name ‘Sofia’ post its patent.

Rajesh Aggarwal, MD of the company, said that it will be able to see a growth in revenue for the product (Sofia) post the patent.

“The product was launched two years back and roughly we do a business of about Rs 20 crore out of this product. There are more than half a dozen duplicate products also in the market. But now since the patent has come in, we will be able to challenge these products and we should be able to grow by at least 50 percent during this year,” he said.

He also said that the company will be launching a new product with a revenue potential of Rs 15-20 crore.

“We are also launching another new product for which, we have just bagged the registration and that is with Nissan; it is a product on Hachiman. We are expecting to launch this product again into the market and in the first year the target is Rs 15-20 crore of sales with this,” he explained.

According to Aggarwal, Q1FY22 has been good so far. He is expecting double-digit growth for the quarter.