Meghmani Organics expands marketing base in Indonesia

Date:10-12-2009

Meghmani Organics announced that it has expanded its agrochemical marketing base in Indonesia through its subsidiary called PT Meghmani (Q,N,C,F)* Indonesia.

The company had set up its arm in Indonesia with the objective of setting up retail operations for its agrochemical products.

The Indonesian market for pesticides is one of the fastest growing markets in the world, currently valued at over USD 360 million.

With the establishment of the subsidiary, Meghmani Organics expects to gain around 10% of market share in the second full year of operations in the category of products registered already in Indonesia and the incremental growth in subsequent growth.

Shares of the company gained Rs 0.05, or 0.27%, to trade at Rs 18.50. The total volume of shares traded was 233,471 at the BSE (2.03 p.m., Thursday).