Insecticides (India) Ltd aims at 7% South India market share; targets sales of Rs.135 crore

Hyderabad, 30th November, 2010: Insecticides (India) Limited (IIL), a premier BSE & NSE listed agro chemicals manufacturing company plans at achieving a 7% market share, with a clear focus on the South India market.
In the entire South India region’s pesticide market estimated at Rs.2000 crore, the Andhra Pradesh market is pegged at Rs. 1300 crore, Insecticides (India) Limited works with around 1200 distributors, preferential dealers and dealers.
Mr. Rajesh Aggarwal – Managing Director & CEO, Insecticides (India) Ltd said: “Our company is targeting sales of Rs.135 crore this year. Our current market share is 6% in South India and since we are strong in the paddy segment and its products, we hope our market share will rise, thanks to the rabi season. We are planning to launch a new product at the end of this year which will be more effective on sucking pest and aphids.”
Mr Aggarwal added, “With two new projects coming up at Udhampur (J&K) and at Dahej (Gujrat), we are fully geared up to cater the demand of the market. The pesticides synthesis plant coming up at Dahej is a big project and expected to roll out about 10,000 T.P.A. of technical grade pesticides, and it will involve the investment of about 50 crores. This will be a multiple stream plant with a capacity to manufacture 5 streams of technical at the same time. This will provide the company with the strategic advantage of backward integration.”
Also present in the press meet were Mr. V.K. Garg, General Manager (Marketing), who stressed on the company’s projects for safe use of agro chemicals. He also mentioned-“Our Company conducted a farmer awareness programme, on 11th Octtober’2010, on safe use of agro chemicals all across Andhra Pradesh, with 156 meeting and more than 7000 participants in association with APMA. We are very keen to keep this campaign going and many such events will follow.”
As a socially responsible company, Insecticides (India) Ltd. started “Jagruta Saptah” (farmers’ awareness programme) campaign in all states in South India. This campaign has been well received by the farmers, shopkeepers and has helped them in understanding on the prudent use of pesticides and its safety measures.
IIL had posted a posted a 34 % rise in revenue and a 21 % jump in the net profit for the quarter ended September 30th, 2010, over the same period of the previous year.

The company has launched a range of Insecticides, Herbicides and Fungicides to consolidate their product range in the northern market. The company also plans to focus on paddy, cotton and vegetables where agro chemicals consumption is 55%, 25% and 5% respectively. The new products that were launched by IIL are as follows:

Insecticides: Phentom (Buprofezin 25% SC), Dynamite (Abamectin 1.9 % EC), Pluto (Emmamectin Benzoate 5 % SG), Tycoon (Thiacloprid 21.7 SC), Victor Plus (Imidacloprid 70 % WG)
Weedicides: Select (Imazethapher 10 % SL), Omega (Oxyflorofen 23.5 % EC), Flite 71 (Ammonium Salt of Glyphosate 71 % SG)
Fungicides: Avone Plus (Hexaconazole 5 % SC), Amaze (Dimethomorph 50 % WP)
Antibiotic/Immunomodulator/PGR: Seathmil (Validamycin 3 % L), Bactrimil (Immunomodulator), Get More (Nitrobenzene 15 % W/w).

Within just eight years after its plant went on stream in 2002, Insecticides (India) Limited has emerged as one of the fastest growing companies in the country’s agro-chemical space, recording a CAGR (compounded annual growth rate) of 50 per cent. Its research team, which has developed more than 20 technical processes, has started research in biotechnology and has set up a new biological laboratory.

About Insecticides (India) Limited:
Insecticides (India) Ltd. (IIL), BSE & NSE Listed Company is India’s leading and one of the fast growing pesticides manufacturing company.
The wide acceptability of IIL’s Tractor brand – its umbrella brand of agro products signifies the company’s deep connection with the farming community. The largest selling brands of IIL include Lethal, Victor, Thimet, Indan 4G, Hijack and Sharp. Out of these leading brands, Lethal brand was acquired in 2003 from Montari Industries Limited. The company has also entered into Technical and marketing MoU with AMVAC Chemical Corporation USA to manufacture and market the product “Thimet”. Thimet is one of the premier brands of the agro chemicals market.
For production of a wide range of agro-chemicals and pesticides, IIL has set production units at Chopanki (Rajasthan) and Samba (Jammu). The technical plant of the company to manufacture technical grade pesticides, such as Imidacloprid, Acetamiprid, Dichlorovos, Lambdacyhalothrin, d-Trans Allethrin, Glyphosate, Butachlore and Thiamethoxam was also started in 2007 providing the competitive edge by backward integration. This year IIL is ready to roll out production from its two new production units at Dahej and Udhampur respectively. The strength of IIL is its distribution network spreads through out the country.

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This release was published on openPR.