Buy Insecticides (India); target of Rs 540: Sharekhan
Sharekhan is bullish on Insecticides (India) has recommended buy rating on the stock with a target price of Rs 540 in its research report dated August 11, 2023.20-08-2023
20-08-2023
INSECTICIDES (INDIA) LTD. - 532851 - Announcement under Regulation 30 (LODR)-Earnings Call Transcript
We hereby inform you that the transcript of the Earnings Conference Call- Q1 FY 2024 held in connection with the Unaudited Standalone & Consolidated Financial Results of the Company on August 11, 2023 is enclosed and is also available on the website of the company.18-08-2023
Accumulate Insecticides India; target of Rs 550: Prabhudas Lilladher
Prabhudas Lilladher recommended accumulate rating on Insecticides India with a target price of Rs 550 in its research report dated August 11, 2023.15-08-2023
Q1FY24 Quarterly Result Announced for Insecticides (India) Ltd.
Agrochemicals company Insecticides (India) announced Q1FY24 results: Revenue from operations increased by 14.14% to Rs 6,399.53 million in Q1FY24 from Rs 5,606.90 million in Q1FY23 on account of favourable monsoon conditions and increasing share of Focused Maharatna products like Hachiman, Shinwa and Torry as a result of our step ahead go-to-market strategies. EBITDA margins stood at 7.13% in Q1FY24, a decrease of 329 bps on account of the liquidation of high-cost inventory from the previous year. The high-cost inventory is significantly liquidated from the balance sheet. PAT stood at Rs 291.42 million in Q1FY24, compared to Rs 383.09 million in Q1FY23, margins reduced from 6.83% in Q1FY23 to 4.55% in Q1FY24. Commenting on the performance the management team of Insecticides (India) stated, “We had a strong quarter to start the year in terms of revenue growth as we witnessed a robust demand for our products owing to favourable monsoon. Although there was an initial delay in rains in certain regions of the country, our widespread presence across India mitigated the impact of this factor and helped us achieve a growth of 14.14% YoY in Revenue from Operations. However, the spillover impact of high-cost inventory from the previous year and pricing pressure impacted EBITDA & PAT Margins which stood at 7.13% and 4.55% respectively for Q1FY24. We took proactive measures to address the challenges by optimizing our inventory management, ensuring that we maintain a healthy stock level while minimizing the accumulation of high-cost inventory. Furthermore, we are closely monitoring weather patterns and market dynamics to anticipate any potential disruptions to our business operations. By staying agile and responsive, we aim to minimize the impact of external factors on our performance and maintain a sustainable growth trajectory Looking ahead, we anticipate a sustainable growth trajectory in the market driven by favourable monsoon conditions, an array of Maharatna product launches and stabilisation of prices. We recently launched promising products in the form of Mission granule and Mission liquid, both of which have received very positive responses from the market and contributed to our topline. Products launched in the last few years like Torry, Hachiman, Shinwa, Green Label, Izuki, Dominant and Kunoichi have started yielding positive results, gaining massive tractions as a result of our concentrated marketing efforts on the entire Focused Maharatna range. We are at a turnaround point where micro-go-to-market strategies have played a vital role to spread brand awareness at the ground level to educate the farmers. Additionally, we are expecting to launch three herbicide Maharatna combination products under 9(3) and one insecticide Maharatna product under 9(4) in Q2 and Q3 usage will be across multiple crops. Export markets were impacted in FY23 and Q1FY24 by the EL Nino impact in major export markets like North America, Europe, LatAm, and Africa which led to lower demand for agro-inputs and consequently to lower prices. In addition to the above, currency fluctuations and precarious levels of forex reserves with several importing countries led to a delay in the recovery of dues for the entire industry which prompted us to deploy a calibrated approach for exports. However, we have now started witnessing positive signs from the export market such as receiving multiple orders from the dealers, stabilization and upward movement in prices of raw material. Further, to stay relevant and expand our international footprints, we are actively seeking more than 300 registrations in Europe, Latin America and USA markets. We expect to further increase our registrations in upcoming years. At IIL, we continue to move forward on our mission to grow responsibly towards a sustainable future through continuous support of our employees and other stakeholders I would like to conclude by thanking all our stakeholders for helping us move in the right direction.” Result PDF14-08-2023
Insecticides India to invest Rs 150 cr in next 2 yrs on capacity expansion in Rajasthan, Gujarat
Insecticides India Ltd (IIL) Managing Director Rajesh Aggarwal on Sunday said the company will invest Rs 150 crore in the next two years on capacity expansion in Rajasthan and Gujarat, and also launch new herbicide and insecticide products before 'Navratri'.13-08-2023
INSECTICIDES (INDIA) LTD. - 532851 - Audio Recording Of The Earnings Call For The Quarter Ended June 30, 2023
Audio Recording of the Earnings Call held in connection with the Unaudited Standalone & Consolidated Financial Results of the Company for the First Quarter ended June 30, 2023 held on August 11, 2023.12-08-2023
INSECTICIDES (INDIA) LTD. - 532851 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Newspaper Advertisement on Extract of Unaudited Financial Results for the Quarter ended June 30, 202311-08-2023
INSECTICIDES (INDIA) LTD. - 532851 - Announcement under Regulation 30 (LODR)-Investor Presentation
Insecticides (India) Limited has informed the exchange about Earning Update of the First Quarter ended June 30, 202310-08-2023
Insecticides India Q1 profit down 24% on higher expenses
Total consolidated income increased to Rs 639.95 crore during the April-June quarter of the 2023-24 fiscal from Rs 560.68 crore in the year-ago period.10-08-2023
INSECTICIDES (INDIA) LTD. - 532851 - Board Meeting Outcome for Financial Results Of Quater Ended June 30, 2023 And Intimation Of 26Th AGM To Be Scheduled On September 23, 2023
The Board Considered and approved the Un-audited Standalone and Consolidated Financial Results of the Company for the first quarter ended June 30, 2023 along with Limited Review Report of Statutory Auditors and fixation of date, day, time and manner of holding the 26th Annual General Meeting (AGM) of the Company on Saturday, September 23, 2023 at 03:00 PM through Video Conferencing ('VC').10-08-2023