Interview with Insecticides (India) Limited

The quality of our products makes them widely accepted and will help us increase our exports in the coming years, asserts Rajesh Aggarwal, Managing Director, Insecticides (India) Limited. 

Can you elucidate your current category-wise revenue mix? What is the optimal target mix you plan to achieve in the next 3-5 years?

We have targets for each of our product categories, from the highest-volume products to the least. We expect a good top-line and bottom-line revenue growth of our focus maharatna and maharatna range of products which includes the new products and high-value and profitable products. 

What are your plans to expand your geographical reach through exports?

We are already playing in the export market, but we plan to aggressively expand in this segment in the coming years. With the increasing reach and consumer base, we are very optimistic for the coming years, that we'll be able to increase export revenue from the current 5% in Q1 2023 in the next 2-3 years. The target is to reach Rs 1,500 million in the coming years, despite the volatility in the international market. We are in the process of generating data and initiating registration processes for our products in some highly regulated markets like Brazil, the USA & Europe, which will help us enhance our export sales.

The quality of our products makes them widely accepted and they meet global standards. We expect this trend to continue, and that will help us increase our exports in the coming years.

Apart from the volatile raw material and energy costs, what are some of the biggest challenges you are currently facing?

At present, the major challenge we face is volatility in raw material prices and energy costs, which are impacting the orders from customers. However, due to our ability to provide a basket of products which successfully cater to the needs of customers, our domestic demand has not faced this challenge. On the export front, price fluctuations and exchange rate fluctuations have impacted the pricing of our products, and this has affected the demand marginally on a global level. It's hard to compete on a global stage when such fiscal forces do not favour you.

Presently, what are your top three m the Focus Maharatna Range which currently enjoy equity and superior margins, innovative strategic objectives?

If I were to pick three major strategic objectives of Insecticides (India), it would be to increase the revenue contribution froly creating and launching 5 to 6 new products by FY 2023 to meet the evolving needs of customers, and increase our exports to take advantage of its better margins compared to the domestic market. These steps will give us the much-needed competitive edge, as we penetrate new markets and establish international relationships and networks.