Crop protection products maker United Phosphorus Limited has enhanced its tie-up with the Japanese insecticides producer Ishihara Sangyo Kaisha to introduce two new insecticides from the latter's global products basket in India this year, according to a BL report.
Photo courtesy: BL
UPL will also be expanding its manufacturing capacities to produce ISK products for the Japanese firm's global market, noted the report. UPL is in the process of completing its nation-wide roll out of ISK's first product, Ulala, a systematic insecticide for controlling sucking pests, in the country. What is more, the company launched the product in Hyderabad on Wednesday.
While speaking at the event, Jai Shroff, CEO UPL said: 'We will be launching new products currently in ISK R&D pipeline for the Indian market. This year, we will unveil two new insecticides from ISK stable'. The company is infusing a fund of Rs 300 crore for regulatory approvals globally and scaling up its production capacities in the country. Part of these capacities will be utilised to produce ISK's products for its global markets, the report pointed out.
UPL's global sales account for about 75 percent of its total revenue, with Latin America and Brazil being its biggest markets. 'India's share of our revenues will continue to remain at 20-25 per cent,' the official informed. After the recent acquisition in Brazil, UPL is aiming at increasing Brazil's contribution to its revenue from the current twelve percent to an estimated 18 percent in the next 2-3 years.
UPL, which completed 35 global acquisitions in the last 15 years, is not immediately looking at fresh buys. 'Unless we get a compelling deal, we will focus on consolidating our existing businesses, Shroff stated.
Stating that UPL, through its group company Advanta India, was betting big on sales of hybrid rice seeds, with Assam, West Bengal and Bihar, the report went on to add that the company was planning to increase area under hybrid rice to 22-25 percent. 'This is expected to push up sales of hybrid rice seeds three times in these States in the next two years,' Shroff signed off.