News Karnataka
Monday, April 22 2024

Indofil Industries logs FY21 domestic sales of Rs 1,000 cr

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New Delhi: Chemicals industry major Indofil Industries recorded domestic sales of Rs 1,000 crore in the financial year 2020-21.

A part of Modi Enterprises, is a major manufacturer, distributor and marketer of agrochemicals and speciality chemicals with a fully integrated framework across products.

Modi Enterprises Chairperson, Bina Modi said: “We are making necessary investments, restructuring human resources and asking the relevant questions for our growth trajectory. We are greatly focused on research and development, supply chain management and preparing a strong pipeline for new and innovative products with maintaining a simple and powerful manufacturing landscape.”

“It is my total faith and trust in the team Indofil that we were able to achieve record domestic sales. The company has grown from a single product to a multi-product speciality chemical company. The company has a much-focused growth strategy, benchmarked chemical solutions for domestic and international consumers,” she added.

A senior official in the agro-business said that last year was a challenging year and team Indofil demonstrated the capability of its resilient business model.

“It was a year of learning, transformation, consolidation, strategic decision and being future ready. Under the leadership of our Chairperson Bina Modi, we confidently and relentlessly achieved a great milestone of crossing Rs 1,000 crore sales,” the official said.

The agrochemical sector is experiencing steady growth and is estimated to have grown by 12-14 per cent in FY21.

Modi noted that Indofil has relationships with many agriculture universities, research organisations and also the company is the founding member of agrochemical organisations like Crop Life India and the Crop Care Federation of India.

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