Indofil Industries achieves sales of Rs 1,000 crore in FY21

By: |
April 14, 2021 3:40 AM

Speciality chemicals maker, Indofil Industries said on Tuesday that it has achieved a sales turnover of `1,000 crore in the domestic market for FY2020-21.

investmentIndofil generated more than Rs 350 crore cash and plans to repay the debt through internal accruals. Representative Image

Speciality chemicals maker, Indofil Industries said on Tuesday that it has achieved a sales turnover of Rs 1,000 crore in the domestic market for FY2020-21. The company expects to keep up the performance as the agro-chemicals sector is estimated to grow at 12-14%.

“The domestic business contributed 41% of the revenue (FY20). Going forward, we expect a 46% revenue contribution from international business. Indofil has an export presence in more than 120 countries worldwide. We are expecting further growth by brownfield and greenfield expansions, and acquisition,” Indofil said.

The company’s profit before tax stood at around Rs 300 crore (consolidated) subject to audit in FY21. Its total debt was around Rs 800 crore as of March 31, 2021. Indofil generated more than Rs 350 crore cash and plans to repay the debt through internal accruals, it added.

Modi Enterprise’s chairperson, Bina Modi said, “Last year was a challenging year and team Indofil demonstrated the capability of its resilient business model. It was a year of learning, transformation, consolidation, strategic decision and being future-ready. We are greatly focused on R&D, supply chain management and preparing a strong pipeline for new and innovative products with maintaining a simple and powerful manufacturing landscape.

The company has invested in new technology capabilities and chemistry application as well as on product and testing platform, she added.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Google I/O 2021 developer conference starts today: How to watch live and everything to expect
2NTPC Bihar unit helped northern district avert major oxygen crisis, says official
3Firms shifting scale more towards temps, gig workers & freelancers: Paul Dupuis, MD & CEO, and, Viswanath PS, CFO, Randstad India