Crop Protection

Best Agrolife’s revenue grew by 17% amidst sector challenges; Establishes holding company in Mauritius for exports

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07 February 2024, New Delhi: Best Agrolife Ltd. shared its fiscal performance for the nine months ending December 31, 2023, highlighting a 17% year-on-year revenue growth, totalling Rs. 1738 Cr., despite industry challenges in Q3 FY24. In 9M FY23 it stood at Rs. 1,492 cr.

Further, despite market challenges in Q3 FY24, the company remains optimistic about the prospects for the upcoming quarter (Q4 FY24) and aim to surpass our annual business targets, with a projected topline exceeding Rs. 2000 Cr. and a healthy EBITDA.

Best Agrolife plans to introduce four patented products and two novel formulations during the Kharif season, reflecting its commitment to innovation. It has also emerged as the first Indian agrochemical firm to secure registration for the indigenous manufacturing of a novel fungicide and insecticide synergistic combination. This formulation is tailored to safeguard crops from damping off disease and various insects, reflecting company’s proactive approach to agricultural challenges.

Aiming at global expansion, Best Agrolife recently established a holding company in Mauritius in January 2024. This move is expected to strengthen its presence in the international market, facilitating its entry into the export business.

Approvals and Registration received

Seedlings India Pvt. Ltd., a wholly-owned subsidiary of Best Agro Life, has secured approval from the Central Insecticides Board & Registration Committee (CIB&RC) to manufacture a groundbreaking agrochemical domestically. This innovative product, incorporating Trifloxystrobin, Thiamethoxam, and Thiophanate Methyl, is poised to transform Indian agriculture by effectively managing harmful diseases and pests, thereby boosting crop yields. With the patent secured for this innovation, the company is gearing up for a nationwide launch in April 2024, branding it as Warden Extra. The company has also acquired a patent for an innovative synergistic herbicidal composition, which will be introduced nationwide under the brand name ‘Shot Down.’

Consolidated Financial Results-Q3 & 9M FY24

Particulars (Rs. Cr.) Q3 FY24 Q2 FY24QoQ Q3 FY23YoY 9M FY24 9M FY239MYoY
Revenue from operations315811-61%328-4%1,7381,49217%
EBITDA19144-87%58-68%293307-5%
EBITDA Margin6%18% 18% 17%21% 
PAT(7)95-107%31-122%179201-11%
EBITDA Margin-2%12% 9% 10%13% 
Consolidated Financial Results-Q3 & 9M FY24

Also Read: Best Agrolife to manufacture a combination of Trifloxystrobin, Thiamethoxam, and Thiophanate Methyl under the brand name Warden Extra

(For Latest Agriculture News & Updates, follow Krishak Jagat on Google News)

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