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HomePosts Tagged "Managing Director of Insecticides (India) Limited"
Company News, Environment, India, Nature

Under this project, IIL Foundation will develop and maintain the mini forest with about 4000 plants.

IIL Foundation, the CSR wing of leading crop protection & nutrition company Insecticides India Limited (IIL) has taken a CSR project with RIICO to develop a mini forest in the RIICO Park allotted by Rajasthan State Industrial Development and Investment Corporation (RIICO). Under this project focussed on environment protection, IIL Foundation will develop and maintain the mini forest with about 4000 plants which will act as the oxygen bank for the local public by large. RICCO has approved this project for a period of three years under specific conditions outlined in their official communication. This was inaugurated by Rajesh Aggarwal, Managing Director of Insecticides (India) Limited and District Magistrate of Khairthal-Tijara Artika Shukla, along with other delegates from the company and the government officials.

Speaking on the occasion, Aggarwal stated, “We are honoured to be part of this project and we thank the RIICO authorities for this opportunity. We will make sure to do our best for the same as we are committed to environmental stewardship and community development under our foundation. By transforming this open space into an oxygen bank, we aim to create a sustainable and beautiful environment that will benefit the local community and promote biodiversity. Our efforts here reflect our dedication to enhancing both the ecological and social aspects of the regions we operate in.”

Dr Mukesh Kumar, VP – IIL and other company representatives were present on the occasion who will lead the foundation’s efforts in mentoring this project.

IIL Foundation will also manage rainwater harvesting and other project requirements. This project marks a significant step towards enhancing the environmental and aesthetic appeal of the Chopanki industrial area, aligning with IIL’s broader vision of sustainable development and community welfare.

Under this project, IIL Foundation will develop

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, 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

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