Insecticides India targets Rs 100 cr turnover from South

Pesticides manufacturing company Insecticides India Limited (IIL) is targeting a turnover of Rs 100 crore from the southern states including about Rs 74 crore from Andhra Pradesh in the next two years. It would increase its footprint in East and West Godavari, Vizianagaram and Srikakulam districts in the state, according to IIL managing director Rajesh Aggarwal.

At a press conference here, he said pesticide consumption in the state was high due to its geographical nature and crop patterns. The southern pesticide market is valued at around Rs 1,400 crore.

The company would strengthen the presence of its top range Victor, Thimet and Lethal brands in Andhra Pradesh, Karnataka and Tamil Nadu.

IIL is expecting to touch Rs 55 crore business in Andhra Pradesh alone and Rs 78 crore in the south. It would grow around 15 per cent a year, he said, adding the company would increase the number of distributors, preferential dealers and retailer.

The company is setting up a 20,000-tonne per annum capacity plant in Gujarat with an investment of Rs 50 crore. It has about Rs 15 crore left from the IPO proceeds and would raise Rs 10 crore debt and provide the remaining from internal accruals, he said.