Insecticide buys Monocil from Nocila

The company,he said,is expecting Monocil that is mainly used for cotton crop to contribute 10 per cent to the total sales.

He said the company also plans to introduce seven products this year,five in insecticide category,one in acaricide and one in fungicide,taking the total product portfolio to 102.

Apart from these seven products,2-3 more products are also in the pipeline,he added.

On the back of this acquisition and new products,IIL is targeting Rs 1,000 crore turnover by 2013,from Rs 550 crore turnover estimated in FY 11,he said.

“MONOCIL and these eight new products will help us to strengthen our customer base. We have always strived hard to provide complete crop solution to the farmers in IIL’s

umbrella. We are also going to manufacture Monocrotophos technical shortly,and will consume a big share internally which certainly help us to improve our top line and the bottom line,” he said.

IIL is also in talks with an international company for acquiring another brand in the fungicide segment,which will be finalised by May,Aggarwal said without giving any further details.

Besides,the company is also open to acquisitions of international brands in insecticide,fungicide and acaricide segments,he said.

IIL,which has three technical and formulation units,is planning to roll out another two units in Dahej in Rajasthan Udhampur in Jammu and Kashmir in another two months,he said.

Shares of the company were today trading at Rs 321,up by 5.23 per cent on the Bombay Stock Exchange.