Insecticides (India) to set up manufacturing unit in UP

It had clocked a top line of Rs 988 cr in FY16 against Rs 964 cr during the preceding financial year

Leading agrochemical manufacturer Insecticides (India) has set up a manufacturing facility at Shamli district in Uttar Pradesh (UP).

The facility also houses a Research & Development (R&D) unit, company’s Managing Director Rajesh Aggarwal told Business Standard here on Wednesday.

Spread over an acre of land, the facility started last month could be expanded in future depending upon emerging needs, he added.

The company already owned modern formulation units at Chopanki (Rajasthan), Samba & Udhampur (Jammu & Kashmir) and Dahej (Gujarat). For backward integration, it also has technical synthesis plants at Chopanki and Dahej to manufacture technical grade chemicals.

Insecticides (India) is BSE & NSE listed and had clocked a top line of Rs 988 crore in FY16 against Rs 964 crore during the preceding financial year.

“We are targetting to grow by 20% in the current financial year,” Aggarwal informed. In UP, the company posted turnover of Rs 69 crore during FY16.

“UP is one of the most important markets due to its large size and agricultural production, especially paddy. It has a huge potential to grow if further awareness is created amongst farmers for modern farming and interventions,” he added.

Meanwhile, Insecticides (India) launched a new post emergence herbicide ‘Green Label’, which has been manufactured in India for the first time. It provides price differential of almost 40% to Indian farmers compared to the imported alternative.

“Paddy contributes a significant share of crop in Indian agriculture. However, problem of weed is huge in the country.The weeds compete with the crop and share nutrients, food, space and light, which reduce crop growth and yield,” he said.

Green Label controls grassy, sedges and broad leaf weeds of rice crop.