Monocil buy to add key brands to Insecticides India portfolio

Our Bureau Mumbai | Updated on March 08, 2011

Insecticides_bl08   -  Business Line

Insecticide India Ltd (IIL) has acquired agrochemical brand Monocil from Nocil for an undisclosed sum. The brand was part of Nocil's erstwhile agrochemical business, and will now be revived by IIL.

Monocil is expected to contribute 10 per cent to IIL's top line and 20 per cent to profits, said Mr Rajesh Aggarwal, Managing Director, IIL. The company had a turnover of Rs 396 crore in FY 2009-10, and is expecting a 40 per cent y-o-y top line growth.

“We expect total sales to go up to Rs 725 crore in FY 2011-12, with brand sales contributing Rs 550 crore,” added Mr Aggarwal.

Monocil will add to the key brands in IIL's portfolio – Victor, Lethal and Thimet – which contribute Rs 105 crore to the top line currently, said Mr Aggarwal.

New products

IIL also announced the launch of seven new products, taking the total to 95. These seven products will also add 10 per cent to IIL's top line, according to the spokesperson. The company is targeting a turnover of Rs 1,000 crore by 2013.

The company's stock opened Monday at Rs 304.00 on BSE and touched a 52-week high of Rs 346.40, before closing at Rs 321.95.

Published on March 08, 2011

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