Insecticides (India) targets Rs 550 crore turnover

Insecticides (India) Ltd has targeted a countrywide turnover of Rs 550 crore in the current financial year. If achieved, this would be a growth of 38.88 per cent over Rs 396 crore which it achieved in 2009-10.

Rajesh Aggarwal, managing director, Insecticides (India) Ltd said, “this year, we have set a turnover target of Rs 550 crore. The company is coming up with two new state-of-the-art formulation and technical plants at Udhampur (Uttarakhand) and Dahej (Gujarat) respectively. The formulation plant at Udhampur will become operational by the end of this month while the plant at Dahej is expected to be functional by April 2011. With the commissioning of these two plants, our manufacturing capacity is set to go up from 2000 tonnes p er annum (tpa) at present to 10000 tpa.”

 

Insecticides (India) Ltd has already achieved a turnover of Rs 289 crore till the end of September this year. The company's turnover is projected at Rs 750 crore by 2011-12 and is expected to reach Rs 1000 crore by 2012-13. The company is also coming up with an all-new R&D facility near Dahej a a cost of Rs five crore.

On the launch of new products, Aggarwal said, “We will be launching 8-9 new products next year which includes a patented fungicide.”

In the Orissa market, the company is eyeing a turnover of Rs nine crore this fiscal and has already achieved a business of Rs six crore. In 2009-10, the company did a business of Rs eight crore.

\As per industry estimates, the market for agro chemicals stands at Rs 100 crore and the company intends to grab 10 per cent market share by the end of 2011-12.

The company aims to spread its presence further in the Orissa market in towns like Cuttack, Puri, Sambalpur, Kalahandi and Jeypore.

It also plans to reinforce its existing brands of insecticides- Lethal Super Mlstim, Sharp, Victor, Phentom, Eurozyme, Active, Milchlore and Innel.