Insecticides (India) Limited reports robust result for FY14; net turnover up 40 per cent; PAT up by 13% against last year

Insecticides (India) Limited reports robust result for FY14; net turnover up 40 per cent; PAT up by 13% against last year

 

Highlights: Twelve Months

 

  • Net income from operations grows by 40 percent over last fiscal; Net turnover from operations at Rs 864 crore during 2013-14

 

      •    Net profit at Rs. 40 crore, a growth of 13 % over the last fiscal

 

       • Earning Per Share (EPS) increases to Rs. 31.49 from Rs. 27.85 with 13 %    growth rate

 

Highlights: Q4

 

  • Net turnover from operations at Rs. 135 crore, registering about 14 % increase over the same quarter last year

 

  • Net profit Rs. 5.15 Crore

 

New Delhi, May 29, 2014: Insecticides (India) Ltd. (IIL), the country’s leading agro chemicals manufacturing company, today reported a strong growth for the fiscal year ending March 31, 2014 , on the back of a good agricultural season and encouraging response to its new  products launched over the last two years.

 

The company which is one of the fastest growing agrochemical firms in India registered a 40 % increase in its turnover over last year with a net income of     Rs. 864 crore in the fiscal year 2013-14. The net turnover achieved in the last fiscal stood at Rs. 616 crore.

 

The company’s net profit grew by 13 % from Rs 35.32 crore in the last fiscal to   Rs 39.94 crore in the period 2013-14. The growth was led by encouraging response to a series of new products launched by the company.

 
 

IIL recorded remarkable growth across all key performance indicators including Turnover, Profit after Tax (PAT) and Earning per Share (EPS).

 

The basic and diluted EPS this fiscal stood at Rs. 31.49 as against Rs. 27.85 in the corresponding period of last year.

 

On the company’s growing performance, Mr. Rajesh Aggarwal, Managing Director, Insecticides India Ltd. (IIL), said, “The annual figures are encouraging as they indicate that the market is robust for our products. Our new products like Hakama, Pulsor, Nuvan, Xplode and Logo launched over the last two years have driven the growth for us this fiscal getting a good response from the market. Another encouraging aspect for the industry is to see Indian farmers adopting latest technology and products to boost their agricultural yields. We expect good contribution from our new products in the next year as well. Volumes have been good in the technical segment as expected.”

 

The leading and most popular brands in the kitty of IIL include Nuvan, Pulsor, Hakama, Lethal, Victor, Thimet and Monocil.

 

About Insecticides (India) Limited:

 

Established in 2002, listed since 2007 and headquartered in Delhi, Insecticides (India) Ltd. (IIL), BSE & NSE Listed Company is India’s leading and one of the fast growing Agro chemicals manufacturing company. The company is committed to fortify agriculture with a highly productive and progressive vision and mission to make Indian farmers prosperous.

 

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. 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. IIL recently acquired Monocil, which is also the most popular brand in its category. IIL has world class state of the art production facilities with latest and automatic machines.

 

IIL also has two technical synthesis plants to manufacture technical grade chemicals such as Imidacloprid, Glyphosate, Butachlor and Thiamethoxam, providing the competitive edge by backward integration.

 

IIL is also establishing R&D centre in JV with Japan-based OAT Agrio Co., Ltd. to invent new agro chemical molecules in India. Under this JV a 4000 sqm. R&D centre is being built in Bhiwadi, Rajasthan.

 

 

 

Rajendra Ganotra is the Editor of Spicy Stars Mumbai

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