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HIL signs MoU with DCPC to achieve revenue target of INR 451 Crore

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HIL signs MOU with Department of Chemicals & Petro Chemicals new

On November 6, 2020, HIL (India) Limited (formerly known as Hindustan Insecticides Limited) a Public Sector Undertakings(PSU) under Department of Chemicals and Petrochemicals, Ministry of Chemicals and Fertilizers has signed a Memorandum of Understanding (MoU) with Department of Chemicals and Petrochemicals (DCPC) to achieve the revenue target of INR 451 Crore in the current Financial Year (2020-21).

The MoU was signed by SP Mohanty, HIL (India) Limited’s Chairman and Managing Director (CMD) and Rajesh Kumar Chaturvedi, Secretary of DCPC.

Key Points:

i.HIL has manufactured 530.10 MT (Million Tonnes) of Malathion Technical in the first two quarters compared to 375.5 MT in the corresponding period last year (CPLY). It is the highest production of the company since its inception.

ii.HIL also registered the highest ever sale for the product in the first two quarters.

iii.It supplied the entire quantity to various institutions like Ministry of Agriculture’s Locust Control Programme and Municipal Corporations across India for vector control.

Recent Related News:

i.On May 24, 2020 HIL, (India) Limited (Formerly- Hindustan Insecticides Limited) a Public sector undertakings(PSU) under Department of Chemicals and Petrochemicals, Ministry of Chemicals and Fertilizers is in process to produce & supply 25 tonnes of Malathion Technical to Iran for the Locust Control Program under government arrangements.

About Ministry of Chemicals and Fertilizers:

Department of Chemicals and Petrochemicals is a department under Ministry of Chemicals and Fertilizers

Union Minister – Sadananda Gowda
Minister of State (MoS) – Mansukh Mandaviya