One of the biggest producers of Synthetic Pyrethroids and their intermediates in India, Heranba Industries Limited, is projecting an extra capex of Rs. 100 crore in H2 FY23.
Raghuram K. Shetty, Managing Director, Heranba Industries says, “We have spent ₹41 crore on capex at our Sarigam facility during H1 FY ’23, and we will be spending additional ₹100 crore in H2 FY ’23. The commercial production of technical-grade pesticides and intermediates from the Sarigam facility is likely to commence from Q1 FY ’24, adding a meaningful contribution to the company’s revenues. Heranba continues to look further to create sustainable growth for its stakeholders with its diverse product portfolio, R&D capabilities and prudent strategies. We are on track to achieve 15 percent to 17 percent sales growth in FY’23, with EBITDA margin staying at 16 percent to 18 percent”.
Shetty further adds, “The company is well poised to build on the strong operational competencies developed over the last few years. I’m hopeful the company will continue to grow and surpass new milestones in the coming years. We continue to see FY’23 as an important year in Heranba’s trajectory and are optimistic of the future”.
