It gives me immense pleasure to welcome you to Indofil Industries Ltd.
We at Indofil believe in the philosophy of a robust profitable growth resting on the solid foundation laid out on the principles of Transparency, Togetherness and Trust.
Transparency builds confidence which is critical for long term success. Togetherness ensures team work and lesser chances of committing errors and Trust ensures that everyone is committed towards a common goal.
These principles have helped us in bringing forth harmony amongst the employees which has helped in developing a culture that prioritizes people above everything else. There is no better testimony to this fact than the recent accolade in the Great Places to Work survey where we were amongst the 100 best companies to work for in INDIA & were recognized as the Industry’s best, ranking 5th in the manufacturing & production sector. This is a crowning glory for our efforts and we are now fully motivated to achieve our goal of becoming a billion dollar company by 2020.
It gives me great pleasure to announce that we have achieved 23% increase in Gross sales as compared to Last Year in first seven months of the financial year. Adding to this, our stellar performance in last 2 years has helped improve our rating to “CRISIL A”
This year, deficient monsoon and a long dry spell in INDIA, have resulted in low crop acreage and low yields. Further low product price (for Paddy) coupled with low yields and the resulting low farmer income has put enormous pressure on the industry. Uneven rains have also affected herbicide and insecticide usage in some states.
Despite this adverse market situation, Agro Domestic Business with its structured developmental strategies and planned positioning continues to outnumber the industry performance, as well its business plan.
For our Agro International Business, first half of the year has been extremely favourable. Volumes are up by 25% over plan.
A positive trend in global fungicide market has enabled us to capitalize and gain additional volumes. Latin America, Africa & Corporate Business have contributed the most to the increase in volume for Mancozeb Tech & 80WP. Australia, USA, Paraguay have contributed to increased volume of Mancozeb WG.
Our SPCD Business has also shown good profitability with cumulative gross profit in H1 exceeding Business Plan. SPCD division continues to report higher GP margin as compared to Business plan. To take our Specialty & Performance Chemicals Business to new heights, a well reputed Consultancy firm Bain & Company was engaged to prepare a full potential roadmap. Six building blocks have been identified namely KAM, Application Labs, Sales and Distribution, Product Portfolio, Export Strategy and Pricing. Joint Practice Sessions and Steering Committees have been set up for effective execution of the project.
On the manufacturing front, focus has been on maintaining highest EHS standard and improving process efficiencies. Now all our effluent parameters such as BOD,COD, pH, TSS are monitored online. We have also implemented online EHS Management system for incident reporting and investigation, ensuring legal compliances and health monitoring of employees
R&D is engaged in developing cost effective, safe processes for products which will be taken up for manufacturing at upcoming new plant at Dahej. R&D has also collaborated with CRO for expediting the product development work. Formulation team is busy developing extruded granules of different products and exploring micro encapsulation of certain others. Lab is well equipped to take up challenging work. SPCD team has focused on developing novel products with Ureide Chemistry for Leather application, import substitution for Acrylic processing aid for PVC foam sheet & WPC applications, Heavy metal free stabilizers for PVC Pipe, Wire & Cable applications and RDP for paint Industry. Textile team has successfully worked on Fire Retardant for Automotive Industry and Acrylic Emulsion specialized for Battery Gauntlet & Carpet Industries. With ultra modern facilities, Analytical department is providing ample support across the functions; has successfully completed NABL assessment audit and is gearing up for GLP re-certification audit.
Growth office has been fuelling Indofil’s growth (both organic & inorganic) with continuous data mining and analytical support. The team is also functional in planning and coordinating for the 3 year business plan across divisions in order to make it robust and fruitful.
Some of the milestones achieved during FY 16 – H1:
- “India’s Best Companies to Work For – 2015” by Great Place to Work
- “Gold Category – Greentech HR Award 2015” under the category “Innovation in Employee Retention Strategies” for Dahej Plant
- “Greentech Safety Award” – Gold Category for Thane Plant
- Won a Gold Award in the “Best Blended Learning Program” Category by TISS – LeapVault CLO Award
- Successful Introduction of Paddy Herbicide “Killog”
- Installation of MEE (Multiple Effect Evaporator) Plant in Dahej Plant
The investment guru Warren Buffett once remarked, “Someone’s sitting in the shade today because someone planted a tree a long time ago”, when asked about the importance of planning ahead. Likewise, at Indofil, we believe in looking ahead and not just plan, but act towards it.
As part of our long term strategy, to meet the increasing demand, the following Capacity Expansion projects have been taken up:
- Installation of Synthesis Technical Plant, with a capacity of 4000 MT, in Dahej (Gujarat) SEZ Area which is expected to be commissioned by Q1 – FY 17
- EC Clearance in Progress for EBDC & Specialty Chemicals plant in GIDC Dahej (Gujarat) with a Capacity of 50,000 MTPA and 40,000 MTPA respectively
Indofil’s success story would not have been possible without the contribution of our customers and dedicated employees who have partnered us in our incredible journey so far. We look forward to continue to serve and engage with the team as well as other stakeholders in the future. We appreciate the ongoing support received from those who are interested in Indofil’s activities and pledge to continue with our efforts to excel and exceed expectations.
I hope our portal creates an opportunity for our valued visitors around the world to learn more about our strategies, financial performance, leading edge operations, services, sustainability initiatives, and values.