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Insecticides India Ltd is focusing on R&D and discovery of new products (molecules) to enhance its business and has also entered the export market this year, according to Rajesh Aggarwal, Managing Director.
He was interacting with the media here on Tuesday. He said the company had a 7 per cent share in the insecticides market in the country, estimated at Rs 15,000 crore. "The sector is growing at 10-12 per cent per annum and we are one of the major players," he said.
He said in volume terms India was the fourth largest producer of insecticides in the world after China, Japan and the US, but in value terms India was lagging behind, "as we are not inventing anything new. We have to focus on new products."
He said his company was making full use of reverse engineering to make strides as there was a huge opportunity in off-patented products. "We have also released two new biological products recently and they have been well received in the market. We will release two more products," he said.
He said with the growing emphasis on organic farming, there would be a good market for bio-pesticides, but it would not be possible to replace chemical fertilisers and pesticides entirely. "There is a huge problem as ordinary pesticides are being passed off as bio-pesticides in some of the markets," he added.
He said the company had two plants in Jammu & Kashmir and one apiece in Rajasthan and Gujarat, besides four R&D centres. In 2012, IIL entered into a tie-up with Japan's Nissan Chemicals and released a product called Pulsor, which was widely used on paddy and was useful for other crops as well. "It has got both curative and preventive properties," he said.
Aggarwal said both AP and Telangana were important markets for the company, "but there is no plan right now to set up a unit in AP. It may be possible in future."
He said the company had achieved a net turnover of Rs 864 crore in 2013-14 and Rs 964.19 crore in 2014-15. The company also has a tractor brand. "In all, we have over 100 products, but nine products account for the bulk of our turnover, we call them navaratnas," he said.
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