Indofil Industries, a subsidiary of Bina Modi's Modi Enterprises, will seek to expand its overseas operations.
According to a corporate statement, "domestic business contributed 41% of sales" (in financial year 2019-20). We expect the overseas sector contributing 46% of sales in the future. Indofil exports to approximately 120 countries. We expect future expansion and acquisitions on brownfield and greenfield properties."
For the financial year 2020-21, Indofil Industries declared a consolidated profit before tax of Rs 300 crore. According to a corporate spokesperson, the firm's total debt was around Rs 800 crore as of March 31, 2021. "We collected about Rs 350 crore in cash and want to settle the loan through internal accruals," the official added.
Indofil Industries said that it had domestic sales of Rs 1,000 crore in FY21. The firm is primarily engaged in the production of agrochemicals and specialized chemicals.