India Pesticides expects to earn revenue worth Rs 100 crore from the launch of the Herbicide Technical product, which will be used for controlling grass and broad-leaves weeds in the pre-or early post-emergence stages.

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In an interaction with CNBC-TV18, Dheeraj Kumar Jain of India Pesticides said that in case the company's capacity utilisation increases, the revenue from the new product will increase to Rs 150 crore to Rs 160 crore.

The newly launched herbicide is primarily used in crops such as maize, soybeans, tomatoes, potatoes, sunflowers, wheat, and rice.

The product will be manufactured at the company's Sandila facility in Uttar Pradesh and will be exclusive for export markets.

The company believes that there is strong demand for this product in international markets and is confident it will be well received by customers.

The development of the manufacturing process was led by the company's in-house R&D and project engineering teams. This launch is the seventh in a series of eight new molecules as part of the company's previously announced medium-term strategy, with the eighth to be commissioned in March this year.

Jain also said that the company will invest Rs 100 crore every year for the next four years at its subsidiary Shalvis Specialties.

India Pesticides is one of the leading R&D driven and globally operating agrochemical companies. Also, it is a leading manufacturer of herbicide and fungicide technicals and active pharmaceutical ingredients (APIs).

Shares of India Pesticides ended 1.5 percent higher at Rs 246.60.