PIB News Update: HIL (India) Limited, a PSU under the Ministry of Chemicals & Fertilizers, has signed a memorandum of understanding (MoU) with the Department of Chemicals & Petrochemicals recently to achieve the revenue target of Rs 451 crore in the current financial year ( 2020-21).
The MoU was signed by the HIL (India) Limited’s Chairman & Managing Director (CMD) Shri SP Mohanty and the Department of Chemicals & Petrochemicals’ Secretary Shri Rajesh Kumar Chaturvedi in presence of other Senior officers.
Shri Mohanty 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.