Indofil: Strong Profit Growth Driven by New Product Launches and Resilient Operations Despite Market Challenges in FY24

21 October 2024

• Steady Growth: The company's consolidated income grew by 1% YoY to ₹3,118.71 crore in FY24, while consolidated profit before tax surged by 28% to ₹363.68 crore.
• Mixed Standalone Results: Standalone income dipped slightly by 2%, but standalone profit climbed by 8%, showing a strong underlying performance.
• New Products Driving Success: Insecticides like Hokori and herbicides Gadget, Tembofil, and Smack saw strong market acceptance, fueling growth.
• Overcoming Challenges: Despite heavy rains affecting key crops like paddy and cotton, the company saw solid growth in segments like grapes, cumin, and chili.
• Strengthening Distribution: Expanded distribution channels and supply chain innovations boosted resilience in a tough market.
• Future Plans: The company plans to roll out more new products and expand its international presence, building on the momentum.