Insecticides India Ltd registers a Profit Growth of 37% this Fiscal

New Delhi, May 28: Insecticides (India) Ltd (IIL), India’s leading agro chemicals manufacturing company, reported robust growth in the fiscal ending March 2015, riding on increasing penetration across the country and variety of new products to meet different requirements of Indian farmers.

IIL clocked an increase in net profit of 37 % as against the last financial year, with the net income of the company rising 12 % against the 2013-14 fiscal. At the same time, the quarterly results at the end of March 31, 2015 showed an increase in net income of almost 20 % as against the quarter ending March 31, 2014.

The company’s net income from sales during the period April, 2014 to March 2015 stood at Rs 964.19 crore as against Rs 864.08 crore during the preceding financial year. As compared to Rs 135.24 crore net income from sales in the quarter ending march 2014, the quarter ending March 31, 2015 produced a net income of Rs 160.84 crore.

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

The basic and diluted EPS this fiscal stood at Rs. 43.26 as against Rs. 31.50 in the corresponding period of last year, a growth rate of 37 %.

Mr. Rajesh Aggarwal, Managing Director, Insecticides India Ltd. (IIL), said he expects growth to be even better this year.

“Last year the climatic conditions were erratic, and farmers also suffered losses due to less rainfall during the kharif season and excess rainfall during the Rabi season. Still, IIL has registered impressive growth. The annual figures are encouraging and clearly indicate a continued growth of market for our products. Our efforts to achieve greater penetration and raise awareness among farmer about judicious use of agrochemicals have brought rich dividends for us. The products launched over the past 2-3 years including Hakama, Pulsor, Xplode and Logo have led the growth figures. With predictions of a timely monsoon, we expect to continue on the growth trajectory,” he said.

The leading and most popular brands in the kitty of IIL include Nuvan, Pulsor, Hakama, Lethal, Victor, Thimet and Monocil. Last year, IIL launched Mycoraja, its first bio-product equipped to promote healthy growth and greater nutrient absorption in a wide range of crops from rice, wheat and vegetables to oilseeds as well as cotton.