 "Insecticides India aims 15% top-line growth in 2016-17")
Insecticides India Limited (IIL), which clocked total income of Rs 988.71 crore in 2015-16 (a marginal growth of 2.5 percent compared to last fiscal’s Rs 964.63 crore), is targeting for a top-line growth of 15 percent in 2016-17. Forecast of a good monsoon coupled with IIL’s plans to launch a series of new products is expected to provide a boost to the company’s profitability this season.
“The past two years have been tough for agriculture. However, the recent prediction by the Met department of a healthy monsoon has given a fresh confidence booster to the sector. We are positive of making a good recovery this fiscal starting from June itself. Our plans for this fiscal include launching a series of new products to boost profitability and growth,” informed Rajesh Aggarwal, managing director of Insecticides India Ltd.
With a positive forecast of a normal monsoon this season after two years of successive drought, the company is expected to kick in a recovery period starting June 2016, as the crop protection industry gets back on growth track.
In recent years, IIL has aggressively expanded its product bouquet, adding a variety of new products to its list of brands Nuvan, Pulsor, Hakama, Lethal, Victor, Thimet and Monocil. In 2014, IIL launched Mycoraja, its first bio-product. Recently, the company introduced in India a new post emergence herbicide Green Label, a Japanese-origin product, manufactured in India for the first time using advanced technology, making the product available to Indian farmers at a much lower price.
“The past two years have been tough for agriculture. However, the recent prediction by the Met department of a healthy monsoon has given a fresh confidence booster to the sector. We are positive of making a good recovery this fiscal starting from June itself. Our plans for this fiscal include launching a series of new products to boost profitability and growth,” informed Rajesh Aggarwal, managing director of Insecticides India Ltd.
With a positive forecast of a normal monsoon this season after two years of successive drought, the company is expected to kick in a recovery period starting June 2016, as the crop protection industry gets back on growth track.
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With two years of deficit rainfall affecting the farm sector, the crop protection industry has also been reeling under the impact of a slowdown. However, owing to the variety in its product bouquet and pan India presence, Insecticides India has managed to minimise the effects of the two-year drought. With plans to launch a series of new products, the company is looking at an encouraging top-line growth as well as profitability this fiscal.
In recent years, IIL has aggressively expanded its product bouquet, adding a variety of new products to its list of brands Nuvan, Pulsor, Hakama, Lethal, Victor, Thimet and Monocil. In 2014, IIL launched Mycoraja, its first bio-product. Recently, the company introduced in India a new post emergence herbicide Green Label, a Japanese-origin product, manufactured in India for the first time using advanced technology, making the product available to Indian farmers at a much lower price.