HIL to increase revenue to Rs 451 crore during 2020-21

HIL (India) Limited has signed an MoU with the Department of Chemicals & Petrochemicals for the Financial Year 2020-21
HIL to increase revenue to Rs 451 crore during 2020-21

New Delhi: HIL (India) Limited, a PSU under the Ministry of Chemicals & Fertilizers, is eying to achieve the revenue target of Rs 451 crore in the current financial year (FY 2020-20). In this regard, HIL (India) has signed a memorandum of understanding (MoU) with the Department of Chemicals & Petrochemicals, under the Ministry of Chemicals & Fertilizers recently.

The MoU has been signed by the HIL (India) Limited's Chairman & Managing Director (CMD) SP Mohanty and the Department of Chemicals & Petrochemicals' Secretary Rajesh Kumar Chaturvedi on November 2. On the occasion Department's Joint Secretary Samir Kumar Biswas (Biswas has been appointed as Joint Secretary in the same department), Joint Secretary (Petrochemicals) Kashi Nath Jha, Director (Chemicals) and HIL (India) Limited's Director (Finance) Dharmendra Kumar Madan were present.

"The target is quite attainable"

CMD SP Mohanty has said "the target of Rs 451 crore for HIL (India) Limited for the current financial year is quite attainable and can be easily achieved. If we the look HIL (India) Limited's performance during the first two quarters, it has recorded incredible growth of 65 percent". The company has manufactured 530.10 MT of Malathion Technical in the first two quarters as compared to 375.5 MT in the corresponding period last year (CPLY), which is the highest ever production since its inception, he added.

In addition to this, the company has also registered the highest ever sale for the product in the first two quarters and supplied the entire quantity to various institutions like the Ministry of Agriculture's Locust Control Programme and municipal corporations across the country for the vector control program.

HIL (India) Limited

HIL (India) Limited is engaged in the manufacturing of various technical and formulation grades of pesticides. Despite various hurdles due to the pandemic outbreak, the company started the production activities in the month of April with limited availability of workforce and disrupted supply chain, to fulfil its commitment to support different government-aided programs and to supply agrochemicals to arming community of the country.

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