New Delhi: For the first time in decades Indofil Industries has achieved the sales figure of Rs 1000 crore in the domestic market. This is a welcome achievement in the club of 1000 crore sales.
Incorporated in 1962, Indofil Industries is among the leading manufacturers, distributors and marketers of agrochemicals and specialty chemicals with a fully integrated framework across products.
Initiative of Modi Enterprises, Indofil is well positioned to achieve great value, brand and international challenges.
Chairperson Modi Enterprises, Dr. Bina Modi said, ‘It is a true moment of pride to embark on this journey, transforming, and navigating through the challenges for a sustained business growth. We are making necessary investments, restructuring human resources and asking the relevant questions for our growth trajectory. We are greatly focused on research and development, Supply chain management and preparing a strong pipeline for new and innovative products with maintaining a simple and powerful manufacturing landscape. We have invested in New Technology capabilities & chemistry application and Product & testing platform”.
Dr Bina Modi, Chairperson also added, “It is my total faith and trust in the team Indofil that we were able to achieve record domestic sales. The company has grown from a single product to a multi-product speciality chemical company. The company has a much focused growth strategy, benchmarked chemical solutions for domestic and international consumers”.
The Domestic business contributed 41% of the revenue (FY 19-20). Going forward, we expect 46% revenue contribution from the international business. Indofil has an Export presence in more than 120 countries worldwide. We are expecting further growth by Brownfield & Greenfield expansions, and acquisition.
Chief Operative Officer (Agro Business) said, last year was a challenging year and team Indofil demonstrated the capability of its resilient business model. It was a year of learning, transformation, consolidation, strategic decision and being future ready. Under the leadership of our chairperson Dr Bina Modi we confidently and relentlessly achieved a great milestone of crossing Rs. 1000 Crores sales.
The agrochemical sector is experiencing a steady growth and is estimated to grow by 12-14% in FY21 and Indofil as a global leader aims to make a difference. With a zeal to deliver innovative and sustainable agrochemical solutions, company aims to meet the needs of the present without compromising that of the future; striving to lead the agrochemical sector by increasing customer success and growth rate.
Indofil with 42 patents as of date is poised for a leap in the future.
According to Chairperson Dr BinaModi, Indofil has relationships with many agriculture universities, research organisations and also the company is the founding member of agrochemical organisations like, Crop Life India and Crop Care Federation of India. Indofil, as quoted by Chairperson Dr Bina Modi, “We invest and Encourage training and innovation”.
About Modi Enterprises
Founded by Rai Bahadur Gujarmal Modi in 1930’s, expanded and shaped by his eldest son
Late KK Modi, today Modi Enterprises is a multi-billion dollar global conglomerate being successfully managed by Chairperson Dr Bina Modi. Dr Bina Modi took over the reins on demise of Mr KK Modi in 2019.
The USD 1.5 billion plus Group has diversified businesses across the country, mainly Modicare (direct selling), Modi Academic International Institute and KK Modi University (education), 24Seven (retail) and Colorbar (cosmetics). Enterprises like Godfrey Phillips India (FMCG) and Indofil Chemicals (agro, specialty and performance chemicals) are renowned leaders in their respective fields. The Group also has interest in specialty restaurants, fashion, entertainment and travel
One of the key strengths of the Group is a multi-product and multi-channel distribution capabilities with one of the largest set ups in India. The manufacturing facilities of the Group are equipped with state-of-the-art equipment, top certifications and incorporate best practices like TQM, Haichi-Ban, 5S, Kaizen Teian etc. The Group has also invested in comprehensive R&D capabilities and the facilities of both Godfrey Phillips India and Indofil employ some of India’s best scientists and state-of-the-art equipment.
Modi Enterprises is deeply committed to giving back to society and the environment where it operates in. Besides various CSR initiatives of the companies, the Group has its own Modicare Foundation that promotes education, youth programs, skill development and awareness for HIV/AIDS. The Group also supports a number of educational institutions, hospital services and charitable trusts.
