Insecticides (India) (IIL), a Rs 550-crore agro chemicals company, has acquired Monocil, a brand for insecticides.
This acquisition will amount to 10 per cent of the total volumes of IIL’s production, Rajesh Aggarwal, managing director said.
The company also introduced seven more molecules — metro, shark, rambo, super star, victor gold, which comes in the insecticides category, dynamite plus, a powerful Acaricide and ultra, which is a fungicide. The company has not disclosed the size of the acquisition.
The company is opening three production units, one at Dahej (Gujarat) and two at Udhampur (Jammu & Kashmir) to add to the existing units, which are at Chopanki (Rajasthan) and Samba (Jammu). IIL’s turnover in the 2010 financial year was Rs 397 crore and in 2011, it reported a turnover of Rs 550 crore. In 2011-12, it expects its turnover to be Rs 725 crore.
“Monocil recently launched seven new products will help us to strengthen our customer base. We have always strive hard to provide complete crop solution to the farmers in IIL’s umbrella. We are also going to manufacture Monocrotophos technical shortly, and will consume a big share internally, which certainly help us to improve our top line and the bottom line,” Aggarwal said.
