Insecticides India will set up a new plant in Rajasthan and also ramp up the capacity of the existing five plants
Insecticides India Ltd plans to invest about Rs70 crore over the next two years on expansion, including setting up a new plant in Rajasthan, a top company official said today.
"We are planning to expand the capacity of formulation and technicals in the next two years and for this, the company will set up a new plant in Rajasthan and also ramp up the capacity of the existing five plants," Insecticides India Ltd Managing Director Rajesh Aggarwal told PTI.
At present, the Delhi-based company has five plants in Rajasthan, Jammu and Gujarat, where it manufactures pesticide formulations and technicals (basic chemicals). Under the expansion programme, the company would ramp up its formulations production capacity to 5 lakh tonnes per annum from the current 3.5 lakh tonnes, while its technicals production capacity would be increased to 22,000 tonnes from 12,000 tonnes at present. Insecticides India is scouting for land for its third plant in Rajasthan, Aggarwal said.
Asked about the investment involved in the expansion plan, he said, "We will invest about Rs 60-70 crore on expansion." Aggarwal said the company has a presence in almost all parts of the country. Maharashtra, Andhra Pradesh, Karnataka and Tamil Nadu contribute about 40% to the company's turnover, which stood at nearly Rs480 crore last fiscal. Its net profit was Rs32.21 crore in 2010-11 fiscal.
Insecticide India's turnover grew by 20%, while its net profit rose by 14% in 2010-11 vis-a-vis the previous year. About one-third of the company's revenues come from four products--Monocil, Lethal, Victor and Thimet. The company had recently acquired insecticide brand Monocil from Nocil Ltd. Monocil is a systemic insecticide-cum-acaricide that controls a broad spectrum of pests in a wide range of crops.
In the late afternoon, Insecticide India shares were trading at around Rs384.80 on the Bombay Stock Exchange, 7.70% up from the previous close
Sushrut Adler plans to expand its products slate to cater to ageing-related bone diseases
Orthopaedic solutions provider Sushrut Adler Group said recently that it will open a new facility at Pune by this fiscal-end, which will help it expand its manufacturing capacity.
The group, which has a strong fracture management (traumatology) portfolio and a presence in the spine and reconstructive orthopaedics areas, plans to expand its products slate to cater to ageing-related bone diseases. "We are going to move into ageing-related diseases like Osteoarthritis (OA), for these we need to make implants with longevity and the new facility in Pune will be for producing new products," said Ajay Pitre, managing director, Sushrut Adler group.
He, however, did not share investment details on the new plant. When asked about expected revenue of the firm on the back of the new initiatives, he said: "In the next three years, we are looking to triple revenues from the present Rs40 crore." Currently, the company has a plant at Ratnagiri, in Maharashtra. The group, which started its operations in 1973, now has a network of over 140 distributors in India and a presence in 28 countries.
Elder Heath Care also plans to boost its own brands and will introduce about five to six products in the Indian market
Elder Health Care said that it will enter the Sri Lankan market by next month with the launch of branded personal care products and is scouting for acquisitions in Europe as part of global expansion plans.
The Mumbai-based firm, which mainly sells in-licensed products, also plans to boost its own brands and will introduce about five to six products in the Indian market. "Entering Sri Lanka is part of a global expansion strategy... The company has partnered with Sri Lanka's Ceylon and Foreign Trades PLC," the Elder Health Care Managing Director, Anuj Saxena, said in a statement.
He said under the partnership, the company will launch oral care, skin care and personal care products along with deodorants, soaps, mouth wash, rose water, face wash and fairness creams under its own brands. Elder Health Care has oral care, personal care and skin care products under different brands, including Fairone, Tiger and AMPM.
Mr Saxena said the company "is also looking at some acquisitions to enter the European market''. Apart from Sri Lanka, Elder Health Care also plans to enter Bangladesh, which is another lucrative market. He, however, did not provide further details on the Bangladesh plans.
On increasing the portfolio of Elder Health Care's own branded products, Mr Saxena said: "As part of our next five-year roadmap, we plan to build our own brands rather than go for in-licensed products." Based on this shift in strategy, the firm aims to have a 50:50 ratio between in-licensed products and owned brands in its portfolio over the next five years against the present 90:10 ratio in favour of in-licensed products. The Mumbai-based firm is also looking to more than double its revenues in the next two years from Rs114 crore in FY'11 to Rs300 crore by FY'13, riding on the back of its expansion plans.
In the late afternoon, Elder Health Care shares were trading at around Rs115 on the Bombay Stock Exchange, 7.58% up from the previous close.