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HomePosts Tagged "Insecticides (India) Limited (IIL)"
Agribusiness, Agro chems – Chemicals, Company News, Finance, India

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

Company’s PAT for FY24 was at Rs

Agro chems – Chemicals, Award, Company News, India

PMFAI AGCHEM Awards recognises and honours outstanding achievements in Indian Agrochemical Industry and remarkable contributions, which helps Sustainable growth of agriculture.

Insecticides (India) Limited (IIL), a distinguished player on the BSE and NSE and a leading name in India’s crop protection and nutrition sector, has added two prestigious awards to its accolades. The company was honoured with the “Outstanding Innovation in Crop Solutions” and the “Social Responsibility Excellence Award” for large-scale companies at the PMFAI AGCHEM Awards, held in Dubai.

The ceremony, held at the PMFAI Conference, saw Rajesh Aggarwal, Managing Director of Insecticides (India) Limited, alongside Sanskar Aggarwal, EVP, and Shrikant Satwe VP – International Business, accepting the awards amidst industry luminaries.

Fourth “PMFAI-SML Agchem Awards 2023” was held on 16 th February 2023 evening at Hyatt Regency & Galleria, Diera, Dubai, UAE. PMFAI-SML Agchem Awards was instituted from 2018 to recognize and honour outstanding achievements in Indian Agrochemical Industry and remarkable contributions, which helps Sustainable growth of agriculture.

In response to the accolades, Rajesh Aggarwal, Managing Director of Insecticides (India) Limited, stated, “These recognitions reflect the ongoing endeavor of our team to pioneer solutions in the agriculture sector and staunch dedication to social responsibility. At IIL, we are driven by a purpose that centers around the genuine needs and aspirations of our farmers, guiding our path in innovative product development. Through our CSR arm, IIL Foundation, we actively spearhead initiatives for farmer awareness and education, building impactful partnerships with farmers. Our commitment persists in pushing agricultural progress and nurturing the prosperity of farming communities.”

PMFAI AGCHEM Awards recognises and honours outstanding

Agribusiness, Company News, India, Sustainability

The Sustainability (ESG) Report provides valuable insights into IIL’s strategic approach, endeavors, and performance concerning relevant ESG material aspects

Insecticides (India) Limited (IIL), a prominent player in the nation’s crop protection & nutrition industry, has released its Sustainability (ESG) Report FY23. The comprehensive report, titled “Accelerating Innovation to Foster a Resilient Tomorrow,” sheds light on IIL’s commitment to environmental, social, and governance (ESG) aspects which are of paramount importance to the organization.

The Sustainability (ESG) Report provides valuable insights into IIL’s strategic approach, endeavors, and performance concerning relevant ESG material aspects. This initiative, in addition to the annual report, reflects IIL’s persistent journey towards a sustainable future. For the FY23, the report discloses non-financial information, activities, and sustainability initiatives adhering to the Global Reporting Initiative (GRI) Standards. External Assurance, provided by Ernst & Young Associates LLP, lends credibility to the ESG disclosure, aligning with International Standards on Assurance Engagements 3000 [ISAE 3000 (Revised)].

IIL, known for its wide array of crop protection and nutrition products, including fungicides, insecticides, herbicides, and Biologicals & Plant Growth Regulators (PGRs), has also expanded its offerings to include biologicals few years back, emphasizing sustainable growth. The report highlights IIL’s commitment to being a solution provider through specialized products, catering not only to the Indian market but also have a foothold in more than 24 countries worldwide.

Rajesh Aggarwal, Managing Director of Insecticides (India) Limited, expressed, “Our ESG journey reflects our understanding of the challenges posed to the industry. By adopting a sustainable approach, we aim to navigate these challenges and thrive in the evolving scene of customer demands. Our commitment lies in developing high-quality, sustainable products, implementing process improvements, and fostering a culture rooted in respect and ethics. We think that businesses that adopt a responsible and sustainable method of working will prosper in the future by keeping up with the quickly evolving demands of the customers.”

“The report outlines IIL’s ESG performance. Some of the key initiatives put forward by organization are: – 30 per cent green belt conforming to air quality standards; 590.29 MT and 21.44 KL of hazardous waste disposed of; zero liquid discharge in 3 plants, 1,473.31 MW solar power plants contributing 9 per cent of total electricity; and Rs. 271.91 lakhs CSR spent”, added Sandeep Aggarwal, CFO.

As a stepping stone in this journey of sustainability, we conducted our first materiality assessment to identify and prioritise the issues that have a direct or indirect impact on us and our ability to create value for our stakeholders. Some of those issues include energy and emissions, water, diversity etc. We have put forward various initiatives for these material issues as mentioned below.

In embracing digital transformation, IIL has streamlined processes at its Dahej plant, replacing manual paper-based reporting with online systems. This initiative resulted in time savings, reduced paper usage, and enhanced real-time process assessment, showcasing the positive impact of technology on operations.

The Sustainability (ESG) Report provides valuable insights

Agro chems – Chemicals, Agro chems – Pesticides, Company News, India

IIL reaffirms its commitment to driving innovation in agriculture, empowering farmers, and contributing to the advancement of the agricultural industry.

Insecticides (India) Limited (IIL), a frontrunner in the crop protection and nutrition sector, is once again at the vanguard of innovation. This time they have introduced four cutting-edge solutions– Nakshatra, Supremo SP, Opaque and Million– designed to redefine modern agriculture.

‘Nakshatra’, marks a new milestone for Indian agriculture for sugarcane as IIL pioneers an innovative approach by coming up with a combination of two highly potent herbicides. Positioned as a game-changer– ‘Nakshatra’ delivers effective protection precisely when it is most critical in the sugarcane crop. This strategic product instills confidence in farmers, enabling them to rely on ‘Nakshatra’ to safeguard their sugarcane crop from unwanted weeds, thus contributing significantly to the sustainability of India’s vital sugar industry. Functioning as a post-emergence herbicide, ‘Nakshatra’ effectively controls variety of weeds, while ensuring the safety of the crop.

‘Opaque’, a trailblazing patented herbicide product again from the R&D wing of IIL, is all set to revolutionize the weed control for farmers pan India. Featuring a combination of two herbicides in ZE formulation, ‘Opaque’ delivers robust control over a variety of weeds creating optimal growth conditions for crop. Notably, its versatility to be used in multiple crops other than Onion will be a boon to the farmers. Already label expansion on crops like cotton and wheat is under way. For the effective control of weeds ‘Opaque’ should be used within 0 to 3 days following transplanting or sowing.

‘Supremo SP’, a versatile broad-spectrum systemic and contact insecticide, stands as a formidable tool against chewing and sucking insects. Its effectiveness extends to combating pests like stem borer and leaf folder in paddy, making it a valuable asset for farmers across India. Moreover, it is also effective for control of insects in vegetables.

Lastly, ‘MILLION,’ an innovative herbicidal solution, targets the notorious Phalaris minor weed in Wheat. ‘MILLION’ presents a strategic advantage for wheat farmers. Recommended at a dosage of 60 grams per acre through a pre-emergence application within 0-3 days of sowing, this application method ensures maximum efficacy in managing resistant Phalaris with no adverse effect on wheat.

 Rajesh Aggarwal, Managing Director of Insecticides (India) Limited (IIL), emphasized the company’s dedication to bring the latest technology products for the Indian farmers through its R&D initiatives and stated, “We firmly believe that innovation is the bedrock of agricultural progress. Embracing state-of-the-art solutions is not a mere option, but a critical imperative for the future of farming. Our unyielding dedication centers on furnishing farmers with the requisite technologies for their prosperity. Through the introduction of these crop protection products, we envisage not only the well-being of individual farmers but also the holistic progress and sustainability of the entire agricultural sector, thereby bolstering the nation’s prosperity.”

In presenting these four pioneering solutions, IIL reaffirms its commitment to driving innovation in agriculture, empowering farmers, and contributing to the advancement of the agricultural industry.

IIL reaffirms its commitment to driving innovation