Insecticides (India) Limited Q3 net up by 23%

New Delhi, February 17, 2015: Insecticides (India) Ltd (IIL), the country’s leading agro chemicals manufacturing company, today reported a 23% increase in its net profit at Rs. 8.34 crore for the quarter ending December 31, 2014.  

IIL’s had clocked net profit of Rs. 6.77 crore in the corresponding period last year. The Company’s net turnover in the third quarter of this fiscal stood at Rs 148.98 crore as compared to Rs. 190.89 crore in the corresponding quarter of last year with a dip of 22%.

IIL, which manufactures and markets a gamut of agrochemical products ranging from insecticides to fungicides to weedicides, provides a full basket of agrochemicals’ solutions to farmers. Its leading products are Pulsor, Hakama, Logo, Nuvan, Thimet, Lethal, Xplode, Victor, Hijack and Monocil which it calls “Power Brands”.   

On the company’s performance,  Rajesh Aggarwal, Managing Director, Insecticides India Ltd. (IIL), said, “Our result is in line with the industry as the agrochemical sector as a whole did not do well on account of poor monsoon in most parts of the country. We are very optimistic of a recovery in the fourth quarter.”

In the last year-on-year nine-month period, the company saw an increase in the turnover of 10% from Rs.728.85 crore to Rs. 803.35 crore. The PAT has increased by 40% to Rs. 48.66 crore in the nine-month period from Rs. 34.78 crore in the same period previous fiscal.

The basic and diluted EPS this quarter stood at Rs. 6.57 as against Rs. 5.33 in the corresponding period last year.

ABOUT INSECTICIDES (INDIA) LTD.

Insecticides (India) Ltd. (IIL) is one of the country’s leading agrochemical companies having a strong product portfolio ranging from insecticides to fungicides and herbicides. Incepted in 2002, the BSE and NSE-listed company is emerging as a front line performer in India’s crop protection market.

The company owns the prestigious umbrella brand ‘Tractor Brand’, which is highly popular among the farming community. The company sells 120 products in the market. The most popular brands IIL has under its belt include Lethal, Victor, Thimet, Monocil, Pulsor, Hakama, Nuvan, Hijack and Xplode.

On the back of rising popularity of its products, the company, having a 950-employee workforce, touched a top line of 864 Cr. (net turnover) in the fiscal 2013-14 and expects it to grow to Rs. 1200 Cr. in this fiscal (2014-15).

Having a pan-India presence, IIL makes available its products through its network of 4,800 distributors and 60,000 dealers via 25 depots throughout the country. Apart from providing quality agrochemical solutions to the farmers, the company has been relentlessly working towards educating farmers about use of agrochemicals to increase their yields.

Aiming to be a research-driven company, IIL set up an in-house research centre at Chopanki (Rajasthan) in 2002. To further its aim, the company recently partnered with Tokyo- based OAT Agrio Co. Ltd. to set up an ultra modern R&D centre, in Chopanki, Rajasthan for discovery of new agrochemical molecules.  It is a big initiative for IIL as the Japanese major has for the first time put up such a facility outside Japan.

IIL has six manufacturing facilities in Rajasthan, Gujarat and Jammu and Kashmir. Presently, it has two technical plants at Chopanki (Rajasthan) and Dahej (Gujarat). Besides these, IIL has four formulation units at Chopanki, Dahej, Samba (J&K) and Udhampur (J&K).

The company also manufactures and markets some of the international brands in India. In 2012, the company had collaborated with Japan’s Nissan Chemicals Industries Ltd for exclusively marketing its fungicide Pulsor and herbicide Hakama, respectively, in the country.

IIL had entered into technical collaboration with American Vanguard Corporation (AMVAC), USA in 2006 to manufacture and market its global insecticide brand Thimet exclusively in India. The company in May 2012, got the right to manufacture and market its insecticide Nuvan exclusively in India another product of AMVAC to. IIL had acquired Monocil brand from Nocil in May 2011.

The company is fast becoming the preferred and trusted choice for Indian farmers who are looking for excellent agrochemical products to augment their crop productivity.