The Profit almost tripled from Rs 5.46 crore (Q1 FY1920), to Rs 16.21 crore (Q1 FY2021)
Best Agrolife Ltd., a leading global player in the agrochemicals sector and one of India’s largest manufacturers of agro-inputs, has announced excellent results for the quarter ended 30 June 2020. The company has in place its long term financial priorities which have a three-dimensional approach wherein the focus areas are – capital allocation, earning, and growth.
The company’s Q1 FY2021 unaudited results saw the company’s total revenue rose to Rs 363.04 crore from Rs 204.18 crore (Q1 FY1920), which is about a 77 percent increase. The Profit almost tripled from Rs 5.46 crore (Q1 FY1920), to Rs 16.21 crore (Q1 FY2021), while the EPS rose from Rs 6.03 (Q1 FY1920) to Rs 6.95 (Q1 FY2021).
“We have defined our objectives clearly and the company will work towards achieving the same wherein the primary focus is to accomplish sustainable EPS growth. This will be supported by incremental earnings across economic cycles. Also, we are anticipating a significant increase in ROCE and ROE which will be driven by our various initiatives,” said Vimal Kumar, Managing Director, Best Agrolife Ltd., with regards to Earnings.
In terms of ROCE and ROE, the project targets are 32.78 percent and 24 percent respectively in FY22. Notably, as per projections, there is a significant increase in EPS (basic) to 30.44 and compared to 7.24 in FY20. For the Growth – approach – the company is enabling models to deliver profitable organic growth. Increase in commitment towards Research and Development and creating a strong push for its branded products.
Best Agrolife has progressed notably and is now considered as one of the top 20 companies in India and its product portfolio comprises more than 60 active ingredients and various formulations of pesticides and plant micro-nutrients for protecting and nourishing a wide range of crops. Its product range includes insecticides, herbicides, fungicides, plant growth regulators, etc.
