IIL targets Rs 1300 cr revenue in FY 2019-20: Rajesh Agarwal

Date:10-23-2019

Insecticides(India) Limited, one of the India's leading agrochemical manufacturing companies has targeted a revenue of Rs 1300 crore with the growth rate of 7 per cent in the current Financial year 2019-20, Company Managing Director Rajesh Agarwal said on last Friday.

Talking to newsmen after launching "Kunoichi" a Patented Miticide here, Mr Agarwal said the total Indian pesticide market size was USD 6 billion( USd 3 billion in domestic and USD 3 billion in exports)with the growth rate of 8 and 10 Plus per cent in domestic and exports respectively.

IIL had posted a Revenue of Rs 1194 crore during the fiscal 2018-19 and was expecting Rs 1300 crore in 2019-20 with the growth rate of 7 percent.

On the Exports concerned, IIL had posted a revenue of Rs 65 crore during 2018-19 financial year and expecting Rs 100 crore in 2019-20, he said.

In South India, Mr Agarwal said that the Company had posted Rs 333 crore revenue during FY 2018-19 with the growth rate of 6 per cent and expecting Rs 380 crore revenue in FY 2019-20 with the growth rate of 6.5 per cent.

In Telangana and Andhra Pradesh concerned, IIl had posted Rs 220 crore revenue in 2018-19 and expecting Rs 250 crore revenue during the FY 2019-20 with the growth rate of 12 per cent, he added.

Stating that the Gujarat manufacturing plant would be launched in March 2020, the Company MD said the company would introduce innovative products to domestic as well as international markets on regular basis.

Stating that the cost of the product Kunoichi is Rs 12,500 per litre, Mr Agarwal said 100 ml was enough for one acre crop.

While explaining about "Kunoichi", Mr Agarwal said Kunoichi was invented and developed by Nissan Chemical Corporation, Japan and comprises a novel molecule, Cyenopyrafen 30 per cent SC.

This product has already been registered in other countries like Japan, South Korea, Colombia and Ecuador. " It is very effective against all types of mites( from egg to adult) and starts its action as quick as 6 hours.

The composition of the product is also apt for the crops such as Chillies and apple", he added.