New Delhi, Nov 6 (PTI) State-owned HIL (India) Ltd has set a target of achieving Rs 451 crore of revenue during the current fiscal year.

The company recently signed a Memorandum of Understanding (MoU) with the Department of Chemicals & Petrochemicals to achieve revenue target of Rs 451 crore in the current financial year (2020-21), an official statement said on Friday.

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The MoU was signed by HIL Chairman and Managing Director S P Mohanty and Department of Chemicals & Petrochemicals Secretary Rajesh Kumar Chaturvedi in presence of other senior officers.

"The target of Rs 451 crore for HIL (India) Limited for the current financial year is quite attainable and can be easily achieved," Mohanty said.

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HIL manufactured 530.10 tonnes of Malathion Technical in the first two quarters of this fiscal as compared to 375.5 tonnes in the corresponding period last year.

In addition, the company also registered the highest ever sales 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 vector control, it said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)