Agrochemicals manufacturer Parijat Industries has achieved a record sales growth of 40 per cent for the year ending March 31, 2019 based on strong surges from its Indian and overseas markets over-reach initiatives.
The exponential growth in sales was attained in a challenging year for the agrochemicals sector.
Parijat Industries is steadily building its physical infrastructure 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.
Parijat Industries expects that with the recent acquisition of a manufacturing facility of Crimson Organics at Cuddalore in Tamil Nadu, it will join a select band of few Indian companies with end-to-end integration.
Having already built a manufacturing capability 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 Haryana.
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 South America.
Parijat Industries' subsidiaries in Moscow, London and Bamako 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 Indian and international markets.
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