New Delhi: India’s leading farm Solutions Company Insecticides (India) Ltd. announced that their net revenue at Rs 319 Crore, grew up by 2.26 per cent over the previous corresponding quarter of last fiscal. Profits after Tax (PAT), at Rs 34 Crore, however, recorded a neat 11 per cent growth.
Rajesh Aggarwal, Managing Director, Insecticides (India) Ltd, said, “IIL’s growth trajectory remains unhindered. Revenue saw a yearly growth of 2.26 per cent because of our strategy of focusing on branded segments that have exponential margins with a higher concentration in the B2C business. We had double-digit growth throughout FY18 as compared to the previous fiscal and IIL has displayed sustained buoyancy due to higher realization in the Maharatna category, change of product mix, an addition of new products with higher margins and gradually shelving off generic products.”
He further said, “We still have a leverage market presence and highly competent execution capabilities. I see great scope for both higher penetration in existing markets and opening up newer ones, with 4 new products launched in the first and second quarter, we are optimistic for the next quarter.”
The company launched a biological product Kayakalp in May last year which was received well by the farmers because it helps rejuvenates the soil naturally and retains more moisture. The product has found acceptance among farmers growing just about any crop from groundnut to paddy and sugarcane to vegetables.
Kayakalp has seen brisk sales from all the states in the country. It has also been duly tested and recommended by National Centre of Organic Farming, Ministry of Agriculture and Farmer Welfare, Government of India.
The company launched various new combination products during the last year which have done very well in the market. The company also conducted extensive farmer education and training sessions across the country to let the farmers know of the various aspects like advantages and dosage of using the crop care products.
IIL is investing significantly in research at its R&D centre in Chopanki, Rajasthan to develop its own molecules for agrochemical products. IIL is the first Indian agrochemicals company that has established an in-house R&D Centre for developing new molecules for the insecticides, fungicides and herbicides.
The R&D centre is a unique initiative of product discovery in India by forming a JV with leading Japanese company OAT Agrio Co. Ltd. The new molecules developed by IIL will further bolster and establish the company in the agrochemical sector.