 "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.
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.
