Insecticides (India) Ltd announced that the Centre has granted it two patents for Novel Miticidal Benzyalamide and Novel Dithiolane compounds for a period of 20 years. According to Insecticides (India) Ltd, the patents cover novel compounds as well as agrochemical products based on them.
The new patented compounds will serve as the primary active ingredients in a variety of agricultural and horticultural fungicide and insecticide formulations.
"At Insecticides India Ltd, we believe in R&D and have been working on it since our inception, and we continue to innovate and file patents in various segments to protect our innovations. We have several R&D centres working on various themes, and these two patents that have been granted are the result of IIL's joint venture with OAT Agrio Co. Ltd's dedication and hard work," said Rajesh Aggarwal, Managing Director, Insecticides (India) Ltd.
"In the country, IIL has 17 granted patents and more than a dozen patents in process." Innovation, patent filings, and product registrations are ongoing processes that our R&D centre is constantly working on in order to provide our farmers with the most up-to-date technologies. We are confident that our patented agrochemical compounds, as well as other products currently in development, will help our farmers improve crop protection and yields." Aggarwal explained.
Furthermore, IIL stated that estimating revenue from these patents was premature because these products must go through a rigorous registration process because these two novel compounds were invented for the first time in the world.
The company has already begun developing new end products for our farmers based on these novel compounds, which are expected to be available in 2026-27.
"As new products enter the market, our profits will continue to rise year after year." This year, we launched a slew of new products and completed our expansion. Despite the fact that raw material prices have risen and we must now sell them, the market has shown a high level of acceptance of the prices, and we expect our margins to grow as new products are added to the portfolio," Aggarwal said.
Under an agreement between OAT Agrio and IIL, the new products will also be available in international markets, with OAT marketing them in some territories and IIL marketing them in others.
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