Insecticides India to invest in 2 years for expansion

Indian agrochemical company Insecticides India Ltd said it will invest Rs 125 crore in the next two years to expand production capacity.

The company also said it expects nearly 50 per cent increase in turnover to Rs 850 crore this fiscal on the back of the back robust demand and ongoing expansions.
 
"We have already invested Rs 100 crore during the last two years and we will invest the similar amount in the next two years mainly to increase capacity in Gujarat and Jammu plant," Insecticides (India) MD Rajesh Aggarwal said.

Out of the total investment, Rs 25 crore will be invested to set up a new plant and R&D centre in Rajasthan, he said, adding the Rajasthan plant would be ready by July.

At present, the company's Jammu plant has a capacity to produce 61 lakh kg of granules per annum. Its manufacturing facility at Chopanki in Rajasthan has a production capacity of 38 lakh kg of bulk chemicals per annum.

Commenting on the company's growth plans, Aggarwal said: "We are targeting a turnover of Rs 850 crore by 2012-13. In 2010-11, the company's turnover was Rs 575 crore."

He said the company plans to launch eight products this year in the Indian market. It has launched Pulsor, a fungicide in collaboration with a Japanese company Nissan Chemical Industries in Maharashtra (AgroNews 2012-04-12).

The company has also appointed Bollywood actor Suniel Shetty as its brand ambassador.