AgriBusiness

Best Agrolife Ltd (BAL) (BSE: BESTAGRO 539660), one of the top agrochemical companies in India, has obtained registrations from Central Insecticides Board & Registration Committee (CIBRC) to indigenously manufacture five new technicals which have the potential to benefit Indian agriculture immensely and increase the crop production by eliminating harmful herbs and pests. These technicals are Ametryn, Metiram, Clothianidin, Cyazofamid, Pinoxaden and a 9(3) FIM vs FI registration for Metiram 55% + Pyraclostrobin 5% WG.

Talking individually about the formulations, Ametryn is a herbicide used to control broadleaf weeds and annual grasses in pineapple, sugarcane and bananas and for general weed control in corn and potato crops. Metiram, on the other hand, is a broad-spectrum fungicide that protects fruits, vegetables, field crops, and ornamentals from foliar diseases and damping off. It can also prevent crop damage in the field and during storage and transportation. Clothianidin is used against piercing-sucking insects of major crops like corn, soybeans, leafy greens, and fruits. It is one of the seven insecticides within the neonicotinoid class with low mammalian toxicity. The fourth technical, Cyazofamid, is a protectant fungicide that inhibits all stages of fungal development in potatoes and tomatoes. Pinoxaden, a pro-herbicide, is beneficial in controlling grass weeds in wheat, barley, and other cereal crops. The last in the list, a 9(3) FIM vs FI registration for Metiram 55% + Pyraclostrobin 5% WG, is a highly effective fungicide to control early blight disease in tomatoes, late blight disease in potatoes, and downy mildew disease in grapes.

Vimal Alawadhi, MD, Best Agrolife Ltd said, “BAL focuses on introducing technologically advanced, diversified, cost-effective, and sustainable crop solutions. It helps farmers protect their crops, increase yield and improve their lives in general. These new registrations will also create huge growth opportunities for BAL this year as there is high demand for these technicals and their formulations in the domestic and international markets. Moreover, the beefed-up portfolio will strengthen our farmer base and will expand our domestic & global distribution network further. We plan to launch these products in the first quarter of FY 2023-24 and expect that these products will generate revenue of around Rs. 500 cr for the company.”

It is important to note that besides acquiring the registration for the indigenous manufacturing of Cyhalofop-butyl (Market size: Rs. 350 Cr.) and Propaquizafop Technical u/s 9(3) from CIBRC, BAL has also received registrations for the indigenous manufacturing of Mepiquat Chloride, Metalaxyl, Metolachlor, Flonicamid, Clomazone, Ethiprole, Thiacloprid, Halosulfuron Methyl, and Dodine technicals at the beginning of this month.

About BAL

BAL is a research-based company focused on bringing world-class and cost-effective crop solutions in the form of novel agrochemical formulations to the agricultural industry to improve crop productivity. Currently, BAL has 7,000 MTPA and 30,000 MTPA technicals and formulation manufacturing capacity at its three manufacturing plants in Gajaraula, Greater Noida, and Jammu & Kashmir. It has more than 5200 distributors in India and retains an unrivalled portfolio of 360+ formulations and over 80 technical manufacturing licenses. The company introduced many innovative and highly effective products this year, including Axeman, Ronfen, Warden, Citigen, Vistara, and Tombo, to name a few. Besides the above products, BAL has been granted the patent for the first-of-its-kind fungicidal composition of Cyazofamid, Dimethomorph, and Difenoconazole and registration for the indigenous manufacturing of Pyroxasulfone technical. While CARE Ratings Limited assigned a ‘CARE A-‘ rating to the company’s long-term bank facilities, BAL also moved to group A from Group B of companies on BSE.

Best Agrolife Ltd. (BSE: BESTAGRO 539660), the leading agrochemical company in India, on Thursday declared financial results for Q3FY23 in its Board of Directors meeting. The company showed significant Year on Year growth for the quarter ending & 9 months ending 31st Dec 2022.

Consolidated Key Highlights-Q3 & 9 Months ending FY23

• The company recorded revenue of Rs. 327.8 crore, a YoY growth of 41% as against Rs. 232.5 crore in Q3 FY22. On 9 months basis revenue grew 65.5% ( Rs. 1492 cr as against Rs. 901 cr in 9 Months last year) Q3 EBITDA at Rs. 58.1 cr up 79% from Rs. 32.43 cr last year. On 9 months basis EBITDA at Rs. 306.5 Crores up 196% from last year of Rs. 103.7 crore

• Q3 PAT at Rs. 30.61 up 101 % from Rs. 15.23 cr last year. 9 Months PAT at Rs. 200.6 cr up 202.2% from last year of Rs. 66.4 cr.

Mr. Vimal Alawadhi, Managing Director, Best Agrolife Ltd.

Commenting on the performance for the quarter and period ending December 2022 Vimal Alawadhi, Managing Director, Best Agrolife Ltd. (BAL) said, “We are glad to share that despite being a lean season BAL successfully managed to remain consistent with its performance in the third quarter of this financial year. While the company has shown growth with a positive outlook across all the business segments during this period. We are fully focussed on our global export expansion which will start reflecting in our revenue growth soon. The company is set to introduce new and exclusive patented products like Ronfen and other different segment products which will scale up our growth further in the next financial year.“

It is important to note that BAL recently obtained registration for the indigenous manufacturing of Cyhalofop-butyl and Propaquizafop Technical u/s 9(3) along with several crucial technicals.

About BAL

BAL is a research-based company focused on bringing world-class and cost-effective crop solutions in the form of novel agrochemical formulations to the agricultural industry for improving crop productivity. Currently, BAL has 7,000 MTPA and 30,000 MTPA technicals and formulation manufacturing capacity respectively through three of its manufacturing plants in Gajaraula, Greater Noida, and Jammu & Kashmir. It boasts to have more than 5200 distributors in India and it retains an unrivaled portfolio of 400+ formulations and more than 100+ technical manufacturing licenses.

Listed among the top agrochemical companies in India, Best Agrolife Ltd. (BAL) has received registrations for the indigenous manufacturing of Mepiquat Chloride, Metalaxyl, Metolachlor, Flonicamid, Clomazone, Ethiprole, Thiacloprid, Halosulfuron Methyl, and Dodine technicals. The company also recently acquired the registration for the indigenous manufacturing of Cyhalofop-butyl (Market size: Rs. 350 Cr) and Propaquizafop Technical u/s 9(3) from CIBRC.

Speaking on the development, Vimal Alawadhi, MD, Best Agrolife Ltd. said, “These technicals will not only fortify all the sections of our product portfolio but will also enable us to serve the farmer community better. Moreover, since there is a huge demand for these technicals in India and across the globe they will further strengthen our position in the domestic market and will increase our revenue through exports as well.”

1. Mepiquat Chloride Tech: Mepiquat chloride is a plant growth regulator for cotton. It promotes the reproductive growth of plants, inhibits the crazy growth of stems and leaves, controls side branches, and shapes ideal plant shapes.

2. Metalaxyl Tech: A broad-spectrum, systemic fungicide Metalaxyl is used to control plant diseases caused by Oomycete fungi in a variety of fruit and vegetable crops.

3. Metolachlor Tech: Metolachlor is a broad-spectrum herbicide used for general weed control in corn, soybean, and sorghum, and on ornamental plants, trees, shrubs, vines and in forestry.

4. Flonicamid Tech: Flonicamid is an eco-friendly systemic insecticide that controls aphids, whiteflies, and thrips in apples, peaches, wheat, potato vegetables, cotton, ornamentals, etc.

5. Clomazone Tech: Clomazone is a broad-spectrum herbicide used to control annual grasses and broadleaf weeds in cotton, peas, pumpkins, soybeans, sweet potatoes, tobacco, winter squash, and wheat.

6. Ethiprole Tech: It is a broad spectrum non-systemic insecticide that keeps plant hoppers, thrips, aphids, weevils, flies and maggots, grasshoppers, psyllids, leaf minders, and some species of whitefly under control in cotton, peanuts, rice, soybean, tea, sugarcane, and in fruits and vegetables.

7. Thiacloprid Tech: Used as an insecticide to protect cotton, pome fruit, vegetables, and potatoes from a variety of sucking and chewing insects, primarily aphids and whiteflies.

8. Halosulfuron Methyl Tech: Halosulfuron is a systemic herbicide that controls annual broad-leaved weeds and nutsedge species, in maize, sugar cane, rice, sorghum, nuts, and turf.

9. Dodine Tech: Dodine is a fungicide and bactericide used to control scab on apples, pears, and pecans, brown rot on peaches, and several foliar diseases of cherries, strawberries, peaches, sycamore trees, and black walnuts.

About Best Agrolife Ltd.

BAL is a research-based company focused on bringing world-class and cost-effective crop solutions in the form of novel agrochemical formulations to the agricultural industry for improving crop productivity. Currently, BAL has 7,000 MTPA and 30,000 MTPA technicals and formulation manufacturing capacity respectively through three of its manufacturing plants in Gajaraula, Greater Noida, and Jammu & Kashmir. It boasts to have more than 5200 distributors in India and it retains an unrivaled portfolio of 360+ formulations and more than 80 technical manufacturing licenses. The company introduced many innovative and highly effective products this year including Axeman, Ronfen, Warden, Citigen, Vistara, Tombo to name a few. Other than the above products BAL has been granted the patent for the first-of-its-kind fungicidal composition of Cyazofamid, Dimethomorph, and Difenoconazole and registration for the indigenous manufacturing of Pyroxasulfone technical. While CARE Ratings Limited assigned a ‘CARE A-‘ rating to the long-term bank facilities of the company BAL also moved to group A from Group B of companies on BSE.