Business & Investment

India Phil Industries achieved sales of Rs 1,000 in FY2009

Indofil will generate over 350 rupees of cash and will pay off its debt in anticipation of the inside.Representative image

Specialty chemicals maker Indofil Industries said Tuesday that it achieved sales of Rs 1,000 in the domestic market in 2020-21. The agrochemical sector is expected to grow by 12-14%, so the company expects to maintain its performance.

“Domestic business accounted for 41% of revenue (FY20). We anticipate that international business will contribute 46% of revenue in the future. Indofil has export offices in more than 120 countries around the world. Further growth is expected with the expansion and acquisition of brownfields and greenfields, “said Indofil.

The company’s pre-tax profit was approximately 300 chlores (consolidated), which was subject to audits in FY2009. As of March 31, 2021, the total debt was approximately Rs. 80 billion. Indofil added that it will generate more than Rs 35 billion in cash and will repay its debt through internal accruals.

Bina Modi, Chairman of Modi Enterprise, said: “Last year was a difficult year and Team Indofil demonstrated the capabilities of its resilient business model. It was a year of learning, transformation, integration, strategic decision-making, and preparing for the future. We focus on R & D, supply chain management, and the preparation of a powerful pipeline for new and innovative products while maintaining a simple and powerful manufacturing environment.

She added that the company is investing in new technology features and chemical applications, as well as products and testing platforms.

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India Phil Industries achieved sales of Rs 1,000 in FY2009

https://www.financialexpress.com/industry/indofil-industries-achieves-sales-of-rs-1000-crore-in-fy21/2232472/ India Phil Industries achieved sales of Rs 1,000 in FY2009

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