Insecticides India to invest Rs 125 cr in 2 yrs

Company expects 50% rise in turnover to Rs 850 cr on robust demand

Leading agro-chemical company Insecticides India today said it would invest Rs 125 crore in the next two years to expand production capacity.

The company also said it expected nearly 50% increase in turnover to Rs 850 crore this fiscal on the back of 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 planned to launch eight products this year in the Indian market. It has launched Pulsor, a fungicide today in collaboration with a Japanese company Nissan Chemical Industries in Maharashtra.

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

The company's share today closed at Rs 408.15, up 0.4% on the the BSE.