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.
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.
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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.