Insecticides India Limited, a leading agro-chemicals maker in the country, is aiming to commission its technical synthesis plant and research and development centre at Dahej by August this year, a top company official informed.
The plant spread across 32 acres is being set up with a total investment of Rs 70 crore and would have a manufacturing capacity of 10,000 tonnes per annum. "We have technical synthesis facilities located at Chopanki in Rajasthan and in Dahej. At Dahej, we expect to start manufacturing Monocrotophos Technical from August onwards. We are awaiting final approvals to come from the regulatory authorities," said Rajesh Agarwal, managing director, Insecticides India Ltd.
After the commissioning the Dahej facility, company's manufacturing capacity for Monocrotophos Technical will rise to 12,000 tonnes per annum, of which 10,000 tonnes will come from Dahej. Insecticides India also aims to launch new products including fungicides. However, the company has already started manufacturing of formulations from Dahej plant. According to Agarwal, the company has registered steady growth over the past few years and is expected to continue the same in coming years. For the year 2011-12, the company aims to achieve a turnover of Rs 700 crore, indicating a growth of about 20-25 per cent over last year.
A rise in pesticide prices is expected to support company's earnings in the coming months. Commenting about the pesticides demand, Agarwal mentioned that the demand was robust considering good monsoon and increased acreage of pulses, cotton, paddy and soybean. The demand for pesticides is believed to rise by 15 per cent this year, against a 12 per cent growth witnessed last year.
"The monsoon demand is robust and the prices have also risen over last year. This is mainly on account of an increase in the crude price and other raw materials. We expect pesticide prices to stay up in the current kharif season," he said. The company sells its various agro-chemical products under the brand names of Victor, Sharp, Lethal, Thimet and Milquat.