Indofil achieves Rs.1000 Crores domestic sales in FY20-21
14 Apr, 2021
14 Apr, 2021
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Despite havoc created by COVID-19 in the year FY20-21, Indofil Industries has achieved a domestic turnover of Rs.1000 Crores. In FY19-20, Indofil had a domestic sales of 910 Crores. This shows that this year they have a growth of 9.8% in the domestic business. Please note, ~45-50% business of the Indofil comes from International market.
In FY20-21, they have reduced the debt by ~200 Crores. Last year debt was ~1000 Crores and same has been reduced to ~800 Crores. This year they will achieve ~230 Crores of PAT. This implies that EPS would be somewhere ~100 per share.
About Indofil
Indofil Industries, established in 1965, manufactures crop protection and specialty chemicals, with a turnover of over Rs2,476, has a direct presence in the Indian market through a large sales organization and well spread distribution network .It also has a presence in over 100 countries through direct distributors as well five operating subsidiaries .It derives 50% of its revenue from international business. Indofil has five manufacturing plants supporting its product range, a backward integration through manufacturing joint venture Indobaijin and strong R&D and product management team.
Management changes
The year 2019-20 was also a year of transformation. The demise of the legend and mentor, the Chairman of Modi Enterprises, Shri Krishan Kumar Modi, fondly remembered as KK by many, was a great shock for the Indofil. Dr. Bina Modi now takes over as the new Chairperson of Modi Enterprises.
