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Insecticides India plans Rs 30 cr investment on Dahej plant

The investment will help Insecticides India go upstream in technicals production. Rajesh Aggarwal, managing director, Insecticides India, said,

, ET Bureau|
Jul 31, 2017, 03.55 PM IST
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HYDERABAD: India’s fifth largest agrochemicals company, Insecticides India Limited (IIL), plans to invest nearly Rs 30 crore in brown field expansion of its technicals facility at Dahej in the current fiscal, announced a top executive.

The investment will help Insecticides India go upstream in technicals production. Rajesh Aggarwal, managing director, Insecticides India, said, "This investment in our technicals plant will help us move up in the value chain by making technical production more efficient and will be made in the coming six to nine months. The funds would be raised through internal accruals”.

The Dahej plant has a capacity of 10,000 tons per annum and currently runs at 65% capacity utilisation

The company, which is aiming to be debt-free by 2020, is expecting a 15-20% growth in the business this fiscal as against the sub 10% growth seen last year while the industry grew by 3-4% due to demonetization and a bad Rabi season owing to unfavourable North-East monsoon. It achieved a turnover of Rs 1,100 crore last fiscal and currently has nearly Rs 200 crore of debt on its books.

Aggarwal was in Hyderabad to launch the company’s newest soil health improvement product, Kayakalp, in the two Telugu states. “This product allows a reduction of nearly 35% on fertilizer usage as it helps restore the soil organic content which over the years got degraded due to excessive fertilizer usage and improves productivity,” he said.

The company plans to launch 5 more products this fiscal including biological and organic products.

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