Agrochemicals firm Insecticides India Ltd is aiming to double its turnover to Rs 2,000 crore in the next four years as it plans to launch more products and focus on exports.
The Delhi-based firm manufactures and markets agrochemical products ranging from insecticides to fungicides to ‘weedicides’. It has 5 formulations and 2 technical facilities at Chopanki in Rajasthan, Samba and Udhampur in Jammu & Kashmir, and Dahej in Gujarat.
The company has an annual capacity of more than 1.10 lakh tonnes of formulations and 13,800 tonnes of technicals.
It had posted a turnover of about Rs 1,100 crore in 2014-15 fiscal.
“We are working on to develop new and high margin products, including product extensions of established brands and expand the revenue share of current product portfolio at the same time,” Insecticides India Ltd (IIL) Managing Director Rajesh Aggarwal told PTI.
Per capita consumption of crop protection products in India is amongst the lowest in the world at 0.6 kg per hectare as compared to 5 kg per hectare in the UK and 7 kg per hectare in the USA, he said adding,”so there is a huge scope for this sector in the country.”
“We have been growing at 11-12 per cent and our turnover as of now is around Rs 1,000 crore, but we are confident that in the next few years our growth rate will rise with new product launches and rising exports.
“We are aiming to touch Rs 2,000 crore in the next four years,” Aggarwal said hoping that IIL would be a USD 1 billion firm within next decade.
The company is exporting agrochemicals worth Rs 15-20 crore and plans to cross Rs 100 crore-mark in the next two years, he added.
It is pursuing registrations for its products in the Middle East and South East Asian regions and has international tie-ups with AMVAC and Nissan Chemicals for brand licensing.