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Parijat Industries records 40 pc sales growth in 2018-19

ANI 

Agrochemicals manufacturer has achieved a record sales growth of 40 per cent for the year ending March 31, 2019 based on strong surges from its and overseas markets over-reach initiatives.

The exponential growth in sales was attained in a challenging year for the agrochemicals sector.

is steadily building its over the last couple of years and putting in place strategic building blocks in terms of expanding its distributor network for enhancing market penetration in existing as well as new international markets.

This has also resulted in the company's financial rating on borrowings being upgraded by ICRA from stable to positive.

expects that with the recent acquisition of a of Crimson Organics at Cuddalore in Tamil Nadu, it will join a select band of few companies with end-to-end integration.

Having already built a for formulations, Parijat will no longer be dependent on external sources for in-house existing demand for technical and intermediates.

Currently, Parijat Industries formulates its requirements at its three formulating facilities at Ambala in

The company distributes its branded products across 16 states. It has been focusing more on expanding its international network to a large number of overseas customers in over 40 countries across Asia, Africa, CIS, Europe, and North and

Parijat Industries' subsidiaries in Moscow, and have enhanced its ability to distribute branded products under its own registrations. The synergy created with the Crimson acquisition will further strengthen its position in the and international markets.

This story is provided by Parijat Industries. ANI will not be responsible in any way for the content of this article.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, April 13 2019. 12:48 IST
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