HIL posts record turnover in 2006-07

Kochi, May 9 (UNI) Public sector undertaking Hindustan Insecticides Ltd. (HIL), which achieved a record turnover, export and production tonnage last year, is aiming to become a Rs 500 crore company in five years' time, its CMD K Harikumar said.

Addressing a press conference here last night, Mr Harikumar said the company, which is celebrating its golden jubilee this year, achieved a turnover of Rs 193 crore during 2006-07, an all-time record.

It also emerged as a major seller of pesticides to African countries, netting exports worth Rs 20 crore.

As per unaudited figures, its profits last year stood at Rs 4.51 crore, he added.

The company had been able to increase its turnover and grow by nearly 37 per cent despite the stagnation in the agro-chemical sector.

HIL, which was presently a Rs 200 crore company, was aiming to reach Rs 500 crore in the next five years with the introduction of new products in the agro-chemical sector.

It also had plans to foray into the biotechnology and phytochemical sectors for pest control, the CMD said.

The company had recently launched two new envrionment-friendly pesticides Mancozeb and Acephate, he said.

Besides its manufacturing unit at Udhyogmandalam here, the company had two more production units at Rasayani in Maharashtra and Bhatinda in Punjab. Its major products were DDT, Maltheon, Dicofol and Endosulfan.

UNI