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
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.
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.