India Pesticides Limited, one of the fastest growing agrochemical companies in terms of volume of technical manufacturing, is planning Rs. 70 crore Capex for FY23.

For Sandila Plant expansion, Rs. 70 crore Capex outflow for FY22 already achieved and the company has planned further Capex of Rs. 70 crore in FY23. The company is targeting to further increase capacity by 6,000 MT and two more manufacturing blocks at the existing Sandila facility are proposed to be used for Herbicide Technicals & intermediates

For the Hamirpur plant, the land registration of 25 acres was completed in October. The plant is likely to commence production in FY 2023-24. All Capex is likely to be funded internally.

The company has shown Consolidated Q4 FY22 revenue growth of 34.3% to Rs. 181.5 crore whereas net profit has shown a growth of 14.7% to Rs. 30.7 crore.

Consolidated FY22 has shown a revenue growth of 11.3% to Rs. 729.3 crore whereas net profit reached Rs. 158 crore compared to Rs. 134.5 crore in FY21.

Commenting on the performance, Anand S. Agarwal, Chairman, India Pesticides Limited said, “During the quarter our revenue grew by 34.3% supported by increased demand for new product launches. We are a R&D driven firm and constantly try to develop and innovate by targeting high demand niche molecules in the International and domestic market and efficiently producing and marketing them across the globe."

"During the quarter we soft launched one new herbicide technical which has the revenue potential of Rs. 50 crores. Presently we have two upcoming products in the pipeline out of which the last product will be launched by Q3 of FY23. During the quarter we further increased our Sandila plant capacity by 500 MT for our existing Fungicide technical and plan to further increase it by 1,500 MT by end of next quarter. Our progress of the ongoing expansion projects is as per timelines and our expectations," commented Agarwal.

"FY22 has been a year where the company took a significant leap towards the future by becoming public and is inclined towards meeting all expectations of its shareholders. We are consistently working towards our vision of supporting chemical businesses and farmers across the world by producing superior value chemicals by integrating quality and efficiency,” added Agarwal.