Indogulf Cropsciences Ltd IPO

Indogulf Cropsciences Limited was originally incorporated as Jai Shree Rasayan Udyog Limited, a public limited company, under the provisions of the Companies Act, 1956, pursuant to a certificate of incorporation dated January 22, 1993, issued by the Additional Registrar of Companies, Delhi and Haryana, and was granted a certificate of commencement of business dated February 16, 1993 by the Registrar of Companies, Delhi and Haryana. Thereafter, the name of the Company was changed to Indogulf Cropsciences Limited pursuant to a Board resolution dated March 19, 2015, and a special resolution passed by our Shareholders at the extraordinary general meeting dated April 2, 2015. A fresh certificate of incorporation dated April 28, 2015 was issued by the Registrar of Companies, Delhi and Haryana.

The global pesticide industry is dominated by the herbicides segment followed by the fungicides and insecticides segments. Of the global market size of around USD 69,044 million, herbicides accounts for nearly half of the crop protection industry globally, however it is on the lower side for India which is around 17% of the total consumption. Apart from the crop market, another segment that has contributed to the global pesticides market includes the non-crop market. This segment had a market size of about USD 11 billion in 2023. These pesticides find their application in homes & gardens, turfs & ornamentals, pest control operations, industrial vegetation management, forestry, public health, and aquatic, among others. They are used for control of weeds, diseases, insects, and other pests. Also, they are used for plant growth regulation. With the expected increase in the application of these pesticides on account of the benefits offered by them, the crop market is estimated to grow at a faster CAGR compared to that of global non-crop. Accordingly, the global non-crop market is expected to rise at a CAGR of about 4.1%-5% by 2028 and is estimated to reach the level of approximately USD 14 billion.

The Company is engaged in the business of manufacturing of crop protection products, plant nutrients and biologicals in India. It manufactures Spiromesifen technical with the minimum purity of 96.5% in 2019. We are also one of the first few indigenous manufacturers of Pyrazosulfuron Ethyl technical, with the minimum purity of 97% indigenously in India and commenced production in 2018. The Company is also a growing exporter of crop protection, plant nutrients and biologicals products and the company exported its products to over 34 countries. The company has been recognised as a `Two Star Export House' by Government of India.