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Tropical Agrosystem to invest Rs 100 crore for new units in WB, TN

Manufacturing  -  Apr 15,2024  - 

Tropical Agrosystem, is expanding its market and establishing two green field manufacturing facilities in Tamil Nadu and West Bengal.

V K Jhaver, founder and chairman, Tropical Agrosystem (India) told TOI that the works will commence for the project soon.

“We are looking at Cheyyar or Gummidipoondi for establishing our new factory in the state. Both the factories will have a mix of chemical and organic products,” he added.

“Our exports commenced two years ago and we are exporting only organic products. A separate vertical to focus specifically on exports has been created and we are now planning to enter into more countries,” Jhaver added.

The more than 50-year-old company headquartered in Chennai is exporting to the Middle East, Bangladesh, Africa and Brazil is eyeing on the North American market.

With a portfolio of 250 products, it recorded a turnover of Rs 1,400 crore in FY24. Of this, 77% was contributed by chemicals including pesticides and fungicides, 18% of the revenue came from organic products and the rest 5% was generated through Plant Growth Regulators (a combination of chemicals and organic).

It has also ventured into the commercial and household pesticides segment in 2023. Tropical Agrosystem is looking to increase the revenue by 25% in the current fiscal (FY25).

 

Company : Tropical Agrosystem