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

During the current quarter, the company achieved a remarkable total revenue reaching Rs 3579.42 Mn in Q3FY24, compared to Rs 3565.32 Mn in the same period last year.

Insecticides (India) Ltd. (IIL), a leading manufacturer of crop protection and nutrition products in India, declared its financial results for the third quarter & nine months of fiscal year 2024. With a diverse portfolio comprising over 21 technical products, and 105 formulation products which includes 35 Maharatna Products, IIL continues to be at the forefront of the industry.

During the current quarter, the company achieved a remarkable total revenue reaching Rs 3579.42 Mn in Q3FY24, compared to Rs 3565.32 Mn in the same period last year. IIL also witnessed a significant improvement in the EBITDA (Excluding other income) which increased by 11.84 per cent during Q3 FY24, reaching Rs 260.11 Mn as compared to Rs 232.57 Mn in Q3 FY23. Profitability also showed commendable growth, with a remarkable 31.41 per cent increase in Profit after tax during Q3 FY24 totalling Rs 123.07 million in contrast to Rs 93.66 Mn in Q3 FY23.  

In the first nine months of FY24, IIL recorded Rs 16938.83 million in revenue, a significant 12.97 per cent growth compared to Rs 14994.31 Mn in the first nine months of FY23. IIL’s profitability remained resilient, with a 2.26 per cent growth in profits after tax during 9M FY24 amounting to Rs 946.02 million, compared to Rs 925.08 million in 9M FY23.

IIL’s strategic focus on enhancing the mix of value-added products, including Hachiman, Torry, and Shinwa, etc. the past two years has contributed to the upward trajectory. In this quarter IIL has launched two new products namely Million, a herbicide for wheat, and Nirog, a bio fungicide.

Commenting on the performance, Rajesh Aggarwal, Managing Director of Insecticides (India) Limited, stated, “We continue to witness growth across our product portfolio, driven by R&D and backward integration initiatives. Our focused marketing efforts and brand-building activities have yielded positive results despite of odds of the season. We remain committed to sustainable growth and extend our gratitude to all our stakeholders for their support.”

IIL has made significant progress in digital engagement with farmers, enhancing channel engagement and providing crop advisors with accurate data.

During the current quarter, the company achieved

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

The broad-spectrum fungicide can help fight the current mortality of the plant ranging which is 20 to 80 per cent

Insecticides (India) Limited (IIL), one of the nation’s leading crop protection and nutrition companies, has unveiled a fungicide that is made in India called Stunner to combat mainly Downy Mildew disease in grapes. This broad-spectrum fungicide comes as a respite particularly for the production of grapes as huge losses, in the form of mortality of the plant ranging from 20 per cent to 80 per cent, are incurred by farmers due to this fungal disease. Downy Mildew disease plays havoc by significantly affecting the quality of grapes.

″This is the first time that this technical and formulation is being manufactured in India. Owing to the requirement of a fungicide for successful grape cultivation, our farmers were mainly dependent on the imported fungicide formulations till date. However, being a firm believer of the ‘Make in India’ initiative, we took this step, and here we are with Stunner in hand for the first time in India. Stunner is an effective fungicide for Downy mildew disease in grapes, ″ said Rajesh Aggarwal, Managing Director, Insecticides (India) Ltd.

″The lion’s share of the potential market will be from Western Maharashtra, mainly the areas of Nashik, Baramati, Sangli, Narayangaon, Solapur  and Satara. We are elated that this unique formulation would be a big relief to the farmers who were struggling with the disease of Downy Mildew. Stunner works by activating the defense mechanism of the plant against the fungus. ″, added Sanjay Vats, Vice President, Insecticides (India) Limited.

″IIL has a strong footprint in the Maharashtra Market and our products like Sofia, Monocil, Hercules, Lethal Gold are popular among the farming community. With the launch of new products like Stunner, Shinwa and Izuki, we will be able to provide the complete solution to the farmers within their reach″, mentioned N. B. Deshmukh, DGM – Marketing, Insecticides (India) Limited.

The broad-spectrum fungicide can help fight the