Indofil Industries Limited (Indofil) is a well-established name in the Agricultural Chemicals as well as Specialty & Performance Chemicals business for over five decades. Current Share Price of Indofil Industries is around Rs 725 per share.
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Indofil has significant presence in the international agricultural chemical market to emerge as a preferred supplier of Mancozeb. Its footprint has expanded considerably since its foray into the international market several years ago. The Company owns and operate one of the most modern production facilities in the industry at Dahej SEZ, Gujarat and Thane, Maharashtra.
Indofil has subsidiary offices in Amsterdam to keep administrative control of Europe business, office in Brazil, Bangladesh, Shanghai, Philippines etc & representative offices at Costa Rica, and Sri Lanka. Besides it is in process to set offices in other countries including Asia pacific & Latin American region.
The company has its export presence in more than 60 countries as suppliers of Mancozeb formulations. In India, Indofil is successful in strategic marketing of Insecticides including IGR’s, Fungicides (Mancozeb, Tricyclazole, Zineb etc.), Bactericides, Herbicides, Acaricides, Surfactants, and Plant Growth Regulators (PGR). Indofil is driven by “Crop Care Concept” in agriculture business.
Specialty and Performance business works with the philosophy to be a solution provider by innovative products for various industries viz. Leather, Textile, Paints, Plastics and Construction Chemicals. Indofil established five decades ago, headquartered in Mumbai, is a research-led and fully integrated chemical company.
Indofil Industries Company Details
ISIN: INE071I01016
Sector: Agrochemicals
Address: Kalpataru Square, 4th Floor, Off Andheri Kurla Road, Andheri (East) Mumbai – 400059
Manufacturing Facilities
Indofil has four manufacturing facilities producing multi products with the state-of-the-art PLC (Programmable Logic Control) and DCS (Distributed Control System) based systems and multiple toll manufacturing units across various parts of India. The manufacturing processes are automated with advanced equipments and environmentally compliant machines, ensuring faster throughput and safe working conditions.
The first plant of Indofil at Thane, near Mumbai Maharashtra state commissioned in 1962 continue to produce various fungicides including Mancozeb, Zineb, Maneb, Cymoxanil, Tricyclazole, Myclobutanil, Metalaxyl, Dodine and Propergite,.
Indofil expanded its manufacturing facilities in Gujarat state by adding Mancozeb mixtures and new fungicide molecules by commissioning two manufacturing plants at Dahej, SEZ (Special Economic Zone, ranked among the top 10 SEZs in the world by Financial Times, London) and one manufacturing unit at Dahej, GIDC location.
| Location | Manufacturing Unit Location | Year of Establishment | Product Manufactured | Total Production Capacity |
|---|---|---|---|---|
| Maharashtra | Thane | 1962 | Mancozeb and other fungicides, Specialty and Performance Chemicals | 20K MT |
| Gujarat | Dahej SEZ 1 – Unit 1 | 2009 | Mancozeb | 30K MT |
| Gujarat | Dahej SEZ 1 – Unit 2 | 2016 | Fungicides – Multi Synthesis Plant | 4K MT |
| Gujarat | Dahej GIDC – Unit 3 | 2018 | Mancozeb and Specialty and Performance Chemicals | 70K MT |
Joint Ventures
Hisun (HIFIL) : The objective of the Indofil and Hisun Joint Venture is to register exclusive imports of agriculture chemicals and to distribute formulations. The data generation for registration is in progress.
Shanghai Baijin Chemical Group Co. Ltd. (SBC), China: As part of the backward integration strategy, Indofil entered into a Joint Venture agreement with Shanghai Baijin Chemical Group Co. Ltd. (SBC) to manufacture Carbon-Di- Sulphide (CS2). The company holds 51% of the equity in the joint venture, which would help ot to cut down the import of CS2 completely.
Indofil Industries shareholding pattern
| NAME OF SHAREHOLDER | HOLDINGS |
|---|---|
| UPSIDC LIMITED | 9.45 % |
| APMS Investment Fund Ltd | 7.12 % |
| Modi Industries Limited | 4.57 % |
| Cresta Funds Ltd. | 2.17 % |
| Life Insurance Corporation of India | 1.3 % |
| K.K. Modi Investment & Financial Services Private Limited | 44.75 % |
Indofil Industries is holding around 65 Lakh shares of listed tobacco manufacturer Godfrey Philips India Limited. Considering the CMP of Rs 1200 per share the total investment value is roughly around Rs 750 crore.
Financial Performance FY 2022
On a consolidated basis, total income rose to Rs. 2,870 crores in the year ended 31 March 2022 from Rs. 2,441 crores in the year ended 31 March 2021.
Consolidated Profit after Tax jumped to Rs. 207.04 crores from Rs 47.54 crores.
The company announced dividend of 40% or Rs. 4 per equity share for the year ended 31 March 2022.
Recent News
Indofil launches three plant protection products in Hyderabad – 29 July 2022
Farm input products company Indofil Industries launched three products- Skystar for BPH on paddy, Sapper (an early sucking complex on Cotton) and Alecto (Lepidopteran and Thrips on chili and other vegetables) in Hyderabad.
The six-decade company has been serving the farming community with its products and services. Indofil has a presence in many countries and brings products that improve productivity in India.
Indofil enters into JV with world’s leading polymer additives manufacturing company, Reagens – 15 February 2019