Insecticides (India) Limited

Insecticides (India) Limited is one of the leading company in the domestic agro chemical market. In the past one decade they have done lot of collaborations & tie-ups with reputed international companies like: Nissan Chemical Corporation, Japan – Marketing Tie up for three specialty products Fungicide PULSOR, Selective Herbicide HAKAMA and Insecticide AIKIDO. OAT Agrio, Japan for setting up product invention R&D Centre in JV–Insecticides (India) signed a JV with OAT Agrio Co., Ltd of Japan for setting up a R&D Centre in India with an objective of inventing new agrochemical molecules for the International market. Momentive, USA – Tie up with MOMENTIVE Performance Material INC, USA for AGRO SPRED* MAX for silicone based super spreader. Nihon Nohyaku, Japan - Tie up for SUZUKA (Flubendiamide), HAKKO (Buprofezin) and AIKIDO. (ii) With 107 Branded formulations, 15 technical and 375+ SKUs, IIL today is evolving to make farmers aware and educate about sustainable crop development. IIL ‘hand-in-hand with farmer’ approach has made them a preferred brand among the farmers. Their Tractor Brand is the living validation of this success. (iii) Products of the company: Insecticide, Herbicide, Fungicide, Surfactants, and bio-logical. The financials of Insecticides (India) Limited looks good and at CML company looks fully priced. Agrochemicals sector is expected to perform well in next 3-5 years. As this is Open Offer buyback, so there is no arbitrage benefit to investors.  So we give AVOID rating to this buyback.

• 1 Mr. Rajesh Pirogiwal
• 2 Mrs. Sunita Pirogiwal
• 3 Miss Tanvi Pirogiwal