India Pesticides Limited, one of the fastest growing chemical manufacturers in India with a global presence, is planning to spend Rs. 79 crore on capex for FY2023. 

Anand Swarup Agarwal, Chairman, India Pesticides Limited said, "Our focused execution of our strategy, supported by improving micro-economic indicators, and growing market sentiment, positions us well to become a strategic and dependable partner to our customers. This is backed by our sustained investments in building our capacities at regular intervals. During FY 2021-22, we have invested Rs. 70 crore in Capex for expansion of Sandila, Uttar Pradesh unit with the soft launch of 2,000 metric ton capacity, increasing the overall technical capacity to 21,500 metric tons. Further, we expect to invest additional Rs. 70 crore during FY2023, that will enable continued growth trajectory to extend full support to our customer, supplier, and other valued stakeholders."

"I am also happy to report our progress on new capacity expansion at Hamirpur, Uttar Pradesh. With the ground breaking ceremony done by Prime Minister Narendra Modi, this new capacity marks a new chapter in our future growth strategy. We have already applied for environmental clearance for our Hamirpur facility and we are happy to say that the TOR has already been received for our facility at Hamirpur. We remain committed to deliver continuous sustainable long-term growth with R&D at the core, leading to continuous innovations in products, as well as in processes. So, we expect the first product to come out maybe in the quarter three of financial year FY 2023-24 from this unit," added Agarwal.

Dheeraj Kumar Jain, CEO, India Pesticides Limited said, "During the year under review, the technical capacity of our Sandila Plant was raised by 2,000 MT, and we intend to utilise two more manufacturing blocks at the current Sandila plant for herbicide technicals and intermediates. This increase in production capacity will boost process efficiency and bring about economies of scale. Present installed capacity of Technicals increased to 21,500 MT from 19,500 MT as on 31.03.2021 after launch of 2,000 MT capacity during FY22."

The new production facility has acquired 25 acres of land in Hamirpur, districts of Uttar Pradesh under wholly owned subsidiary company Shalvis Specialities Limited (SSL). The facility is expected to start operating by the end of 2023 after the required environmental and other statutory clearances.