Budget 2024- PLI scheme for Agrochemicals amongst industry’s Wishlist said Rajesh Aggarwal of Insecticide India

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Insecticides India said that the domestic demand scenarios is reasonable. The Kharif crop has been good, the yields are decent. The Rabi season also remains favorable though some impact cyclone may be felt and paddy crop may see some impact.

But overall the domestic demand scenario is reasonably decent. Since domestic demand prospects remain reasonable Insecticides India will benefit from its high exposure to the domestic market. Most of the Asian markets and Africa are better placed compared to developed countries and exporters to those regions may continue to feel the heat.

Also Read- Crude oil prices decline: How will it impact the Indian equity market? The growth for Insecticides India is expected to remain in double digit. Insecticides India will benefit from almost 8 product launches in the year and many earlier launches undertaken during the covid times, said Aggarwal. The strategy of Insecticides India has changed and product launch happens as soon as the product registration takes place.

Insecticides India had remained proactive and had been absorbing the impact of higher cost inventories and bearing mark to market losses since Q4 of FY23 . In this context with the worst may be behind and Insecticides India is again well placed to see earnings growth moving forward. Insecticide India while saw Earnings before interest tax depreciation and amortisation grow 0.53% during first half, Its net profit had declined 1.02% during first half.