Insecticides India Ltd eyes to acquire more brands to expand business

HYDERABAD: Agrochemicals firm Insecticides India Ltd (IIL) is looking to acquire more brands to expand its business in the country, a company official said today.
"We have acquired several brands. That has been the strategy of the company. So, we are still working on that. I believe there may be a potential of introducing one more brand by acquisition this year," IIL MD Rajesh Aggarwal told reporters here.

IIL is a major player in crop care market with a top line of Rs 988 crore in 2015-16 as against Rs 964 crore during the preceding financial year.

IIL, which claims a market share of about 7.5 per cent, wishes to grow by 15-20 per cent this year, he said.

"In absolute terms, I believe that we should be able to double our profits this year," he said, adding that "we are working on various collaborations with certain international companies."

"We are trying to bring the new technologies to the farmers through our own R&D centre and also partnering with certain international companies. We will be regularly bringing new products through these technologies," Aggarwal said.

The company is collaborating with some American and Japanese firms in the field of agrochemicals and hopes to provide products in the country at reduced prices.

The prices of products can come down by 15-20 per cent. The company invested about Rs 6-7 crore in R&D per annum, apart from the fixed investments, Aggarwal said.