India Pesticides commissions 1st phase of backward Integration of Pretilachlor Technical with capacity of 2,000 TPA

India Pesticides Limited (BSE: 543311; NSE:IPL), one of the fastest growing agro-chemical companies in terms of volume of technical manufacturing ("IPL" or the Company"), announces launch of New Intermediate on May 30th, 2022.

We launched first phase of our backward integration for Pretilachlor Technical of 2000 TPA. This will be manufactured in our existing facility at Sandila Plant, which will further safeguard us from any supply chain challenge of the intermediate which is largely imported. We are planning to expand it further in the FY 2022-23. The primarily application for the chemical is as herbicide for rice plantation. We anticipate a good market potential for this product. The process to manufacture was developed through our indigenous R&D facility & project engineering teams.

This is the 6th molecule launched by us and is part of our earlier announced medium-term strategy of launching 8 new molecules.

Commenting on the launch, Mr. Anand Swarup Agarwal, Chairman: "I am pleased to announce the launch of first phase of backward integration of Pretilachlor Technical for which I would like to thank our R&D team who have worked towards developing efficient manufacturing process and execution by our inhouse engineering team. Furthermore, the work for second phase is expected to commence during later part of the year.

This is also a testament to our R&D capabilities and our ability to consistently find chemicals which can substitute and limit our dependence on imports. This further enhances our competitiveness in the Indian Market. This is also one of many initiatives that aligns to companies' vision of "Make in India" and support domestic growth."

Shares of India Pesticides Ltd was last trading in BSE at Rs. 233.05 as compared to the previous close of Rs. 234.35. The total number of shares traded during the day was 8240 in over 622 trades.

The stock hit an intraday high of Rs. 237.85 and intraday low of 232.00. The net turnover during the day was Rs. 1932817.00.

Source : Equity Bulls

Keywords

IndiaPesticides Agrochemicals INE0D6701023 NewIntermediate BackwardIntegration PretilachlorTechnical