Company’s PAT for FY24 was at Rs 102 Crore, registering a growth of 62 per cent.
Insecticides (India) Limited (IIL), one of India’s leading crop protection and nutrition company, has announced its audited financial results for the year ended March 31, 2024. Company’s revenue from operations stood at Rs 273 crore in Q4FY24 compared to Rs 302 crore in Q4FY23.Company has reported Rs 8 crore Profit After Tax in Q4FY24 as against a loss of Rs. (29) crore in Q4FY23. EBITDA stood at Rs. 9 crore in Q4FY24 as against Rs (28) crore in Q4FY23.
Company’s Net Revenues for FY24 stood at Rs. 1,966 crore vs Rs. 1,801 crores in FY23. Company’s B2C business revenue grew by 11 per cent leading to higher profitability. Strong growth of 27 per cent in value added product portfolio of ‘Maharatna’, which constitutes 59 per cent of B2C revenue in FY24.Company’s PAT for FY24 was at Rs 102 Crore, registering a growth of 62 per cent; PAT margins expand by 170 bps in FY24 marking a strong recovery in a challenging industry environment.
Commenting on the results and performance, Rajesh Aggarwal, MD of Insecticides (India) Ltd. said, “We are delighted to report a strong performance for Q4 FY24 and FY24, with our annual net profit crossing Rs 100 crores, representing a 62 per cent year-over-year growth compared to FY23. This achievement is a testament to our resilience and adaptability in a challenging industry environment. Our revenue for FY24 stood at 1,966 crores, registering a 9 per cent growth, primarily driven by the impressive performance of our focused Maharatna and Maharatna products, which saw a remarkable 27 per cent year-over-year growth and contributed 59 per cent to our total sales. We attribute this success to our strategic focus on product mix optimization and cost efficiencies, which led to improved profitability and higher GP and EBITDA margins.
Our commitment to operational excellence has enabled us to optimize costs, improve efficiency, and remain agile in response to changing market conditions. We continue to invest in our premium product portfolio, distribution network, and brand equity, reinforcing our position as a trusted partner for farmers and agricultural stakeholders.
We have introduced 8 new products in FY24, which generated revenue of Rs 51 crore and demonstrated wider product acceptance, driving innovation and value. Looking ahead, we are excited about the prospects for our new product launches, which will further enhance our portfolio and address the needs of the farmers. This will lead us to be close to the farmers and address the emerging needs of the farmers on an ongoing basis. We expect to launch at least 7-8 new products in FY25.
Business Highlights:
- Introduced 8 new products in FY24, which amounted to revenue of Rs 51 crore, demonstrate wider
- product acceptance, driving innovation and value
- More than 40% revenue growth in Shinwa, Hachiman, Torry and Mission
- Streamlined manufacturing operations towards Formulations solutions
- Strengthened organizational capabilities at senior level to drive Future growth
- Investment in digital transformation i.e IIL 360, driving business agility and customer centricity
