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Agribusiness, Agro chems – Chemicals, Company News, Finance, India, Trade

The acquisition, finalised through a 100 per cent stake purchase with cash consideration, amounts to an estimated enterprise value of Rs 139 Crores.

Best Agrolife Ltd (BAL), a prominent player in the Indian agrochemicals industry, has made a significant stride with the acquisition of Sudarshan Farm Chemicals India Pvt Ltd (SFCL). This acquisition marks a milestone in BAL’s journey, as it not only expands its market presence but also strengthens its R&D capabilities and product portfolio.

The acquisition, finalised through a 100 per cent stake purchase with cash consideration, amounts to an estimated enterprise value of Rs 139 Crores. After accounting for Net Working Capital and other Liabilities, the cash outflow for BAL is expected to be around Rupees 9.5 Crore. This strategic move is aimed at leveraging SFCL’s expertise in R&D and brand management to enhance BAL’s market position and drive growth.

SFCL, a subsidiary of Sudarshan Chemical Industries, boasts a rich legacy of 40 years in the agrochemicals sector. Known for its commitment to quality and innovation, SFCL has earned the trust of farmers across the country. The company’s focus on developing cost-effective manufacturing routes for off-patent molecules has been a key driver of its success.

One of the key assets acquired by BAL through this deal is SFCL’s impressive IP portfolio, which includes 10 patents (applied). This portfolio, combined with SFCL’s R&D capabilities, will provide BAL with a competitive edge in developing new and innovative products for the market.

The acquisition also grants BAL access to SFCL’s popular brands, including “Sutathion,” “Suphos,” “Suchlor,” and “Sumidon.” These brands, known for their quality and effectiveness, will complement BAL’s existing product lineup and help expand its presence in the central and southern regions of India.

The acquisition, finalised through a 100 per

Agribusiness, Agro chems – Chemicals, Agrotech, Company News, Finance, India

The company has reported total income of Rs. 410.5231 crores during the period ended December 31, 2023, as compared to Rs.401.0278 crores during the period ended December 31, 2022.

Dhanuka Agritech Limited has reported Consolidated financial results for the period ended December 31, 2023. The company has reported total income of Rs. 410.5231 crores during the period ended December 31, 2023, as compared to Rs 623.6745 crores during the period ended September 30, 2023. The company has posted net profit / (loss) of Rs. 45.3690 crores for the period ended December 31, 2023, as against net profit / (loss) of Rs. 101.7688 crores for the period ended September 30, 2023.The company has reported EPS of Rs 9.95 for the period ended December 31, 2023, as compared to Rs. 22.33 for the period ended September 30, 2023.

The company has reported total income of Rs. 410.5231 crores during the period ended December 31, 2023, as compared to Rs 401.0278 crores during the period ended December 31, 2022. The company has posted net profit / (loss) of Rs.45.3690 crores for the period ended December 31, 2023, as against net profit / (loss) of Rs.46.0656 crores for the period ended December 31, 2022. The company has reported EPS of Rs.9.95 for the period ended December 31, 2023, as compared to Rs.9.89 for the period ended December 31, 2022.

Financial Results (9 Months Ended FY2024) – YoY Comparison

The company has reported total income of Rs1409.9126 crores during the 9 Months period ended December 31, 2023, as compared to Rs.1359.0059 crores during the 9 Months period ended December 31, 2022. The company has posted net profit / (loss) of Rs 180.0771 crores for the 9 Months period ended December 31, 2023, as against net profit / (loss) of Rs168.1984 crores for the 9 Months period ended December 31, 2022.The company has reported EPS of Rs.39.51 for the 9 Months period ended December 31, 2023, as compared to Rs.36.11 for the 9 Months period ended December 31, 2022.

The company has reported total income of

Agribusiness, Agro chems – Chemicals, Agro chems – Fertilizers, Company News, India, Inputs

With the new plants, the company’s capacity for phosphoric acid will increase by 750 tonnes per day, while that of sulphuric acid will go up by 1,800 tonnes per day.

Agrochemicals major Coromandel International announced that company’s Board of Directors has approved a proposal to set up new phosphoric acid and sulphuric acid plants at Kakinada in Andhra Pradesh with an investment of Rs 1,029 crore. The proposal was approved at the board meeting held on January 30, Coromandel International said in a stock exchange filing.

With the new plants, the company’s capacity for phosphoric acid will increase by 750 tonne per day, while that of sulphuric acid will go up by 1,800 tonne per day. Currently, the company has a capacity of 1,550 tonne per day for phosphoric acid and 4,200 tonne per day for sulphuric acid.

The funding for these ventures will be sourced through internal accruals and loans, with the primary objective of reducing the reliance on imports and transforming Kakinada into an integrated facility. However, the expansion of backward integration capabilities is contingent upon securing regulatory approvals.

Coromandel’s strategic investment aligns with its long-term goals of ensuring a stable supply of crucial raw materials for fertiliser production. The anticipated benefits include enhanced cost efficiencies, improved raw material security, and a contribution to the government’s vision of Atma Nirbhar Bharat.

With the new plants, the company's capacity

Agro chems – Chemicals, Company News, Finance, India

Company’s total income rose by 14 per cent to Rs 617.92 crore in the July-September period of from Rs 542.90 crore a year ago.

Agrochemical major Dhanuka Agritech reported a 39 per cent rise in its net profit to Rs 101.77 crore in the September quarter. Company’s net profit stood at Rs 73.02 crore in the year-ago period. Total income rose 14 per cent to Rs 617.92 crore in the July-September period of from Rs 542.90 crore a year ago, the company said.

“The company did reasonably well during challenging times amid erratic rainfall, falling prices, and subdued exports demand,” Dhanuka Agritech Managing Director M K Dhanuka said in a statement.

“The uneven rainfall in the country also impacted our revenue and bottom line. We are cautiously optimistic about the demand in the remaining part of the fiscal year amid El Nino conditions and global inventory in the agrochemicals”, he added.

The demand for agrochemicals is expected to improve in the third quarter of the fiscal onwards, the MD noted.

“In the backdrop of higher MSPs for the rabi crop announced by the government, and increased water levels in the reservoirs, the demand for agrochemicals in the domestic market is expected to improve,” Dhanuka said in the statement.

During the second quarter of the current financial year, the company brought two new products into the market Tizom and Semacia, which have been very well received by farmers.

Dhanuka Agritech mentioned that it is working on both medium-term and long-term strategies to further expand its market, both in terms of products and geographies. The company has four manufacturing units in Gujarat, Rajasthan, and Jammu & Kashmir.

Company’s total income rose by 14 per

Agro chems – Chemicals, Company News, Finance, India

Company’s PAT for the quarter was at Rs 95 crores up 5 per cent QoQ and down 27 per cent YoY compared to Rs 91 crore in Q1 FY24 and Rs 130 crores in Q2 FY23.

Best Agrolife Limited (BAL) today reported financial results for the quarter and half year ended September 30, 2023.

Key Results Highlights:

  • Q2 FY24 Consolidated Revenue from operations for Q2 FY24 stood at Rs 811 crores which grew by 32 per cent QoQ and 16 per cent on YoY basis compared to Rs 612 crore in Q1 FY24 and Rs 700 crores in Q2 FY23.
  • EBITDA for the quarter came at Rs 144 crore up 11 per cent QoQ and de-grew 21 per cent YoY compared to Rs 130 crore in Q1 FY24 and Rs 183 crores in Q2 FY23. The improvement in EBITDA for the quarter was on account of better product mix.
  • EBITDA margin for the quarter came at 18 per cent as compared to 21 per cent in Q1 FY24 and 26 per cent in Q2 FY23, down 300 bps QoQ and down 800 bps YoY.
  • PAT for the quarter was at Rs 95 crores up 5 per cent QoQ and down 27 per cent YoY compared to Rs 91 crore in Q1 FY24 and Rs 130 crores in Q2 FY23.
  • PAT margin for the quarter came at 12 per cent as compared to 15 per cent in Q1 FY24 and 19 per cent in Q2 FY23, down 300 bps QoQ and down 700 bps YoY.

H1FY24 Consolidated

  • Revenue from operations for H1 FY24 stood at Rs. 1,423 crores which grew by 22 per cent on YoY basis compared to Rs 1,164 crores in H1 FY23.
  • EBITDA for H1 FY24 came at Rs 274 crores up 10 per cent YoY compared to Rs 248 crores in H1 FY23. The improvement in EBITDA was driven by better product mix during H1FY24.
  • EBITDA margin for H1 FY24 was at 19 per cent as compared to 21 per cent in H1 FY23, down 200 bps YoY.
  • PAT for H1 FY24 came at Rs 185 crores up 9 per cent YoY compared to Rs. 170 crores in H1 FY23.
  • PAT margin for H1 FY24 was at 13 per cent as compared to 15 per cent in H1 FY23, down 200 bps YoY.

Commenting on results, Vimal Kumar, Managing Director, Best Agrolife Limited, said, “Despite the challenging external environment, we have maintained a strong growth trajectory, with revenue from operations surging by 32 per cent sequentially to reach Rs 811 crores. This remarkable growth can be attributed to the success of our flagship products, including Ronfen, Tricolor, CTPR, Propique, Amito, and others. Notably, the second quarter is a pivotal season for Ronfen, and robust interest from farmers is contributing significantly to our growth. Our profit margins remain resilient, driven by an improved product mix. The consistent demand for our products has shielded us from pricing pressures that generic agrochemicals are grappling with.

 He also added that I am also pleased at the ground-breaking achievement by our subsidiary, Seedlings India, which has been granted a 20-year patent for a revolutionary Synergistic Pesticidal Composition. This composition incorporates two insecticides and a fungicide, offering innovative solutions to the challenges faced in rice cultivation. We have additionally secured a vital 20-year patent for a revolutionary herbicidal composition that promises to enhance rice crop yields. This one-shot herbicide, set to launch in the next Kharif season under the brand name ‘Orisulam’, will further bolster our herbicide portfolio. During this quarter, we introduced our patented product, Tricolor, which has garnered a very encouraging response from the farming community.

Company’s PAT for the quarter was at

Agro chems – Chemicals, Company News, Finance, India

In the first \of FY24, IIL recorded Rs 13,359 Mn in revenue, a significant 17 per cent growth compared to Rs 11,429 Mn in H1FY23.

Insecticides (India) Ltd. (IIL), a leading manufacturer of crop protection and nutrition products in India, declared its financial results for the second quarter of fiscal year 2024. With a diverse portfolio comprising over 21 technical products, 105 formulation products, IIL continues to be at the forefront of the crop care industry.

During the current quarter, the company achieved a remarkable revenue growth of 20 per cent, with total revenue reaching Rs 6,959 Mn in Q2FY24, compared to Rs 5,822 Mn in the same period last year. In the first half of FY24, IIL recorded Rs 13,359 Mn in revenue, a significant 17 per cent growth compared to Rs 11,429 Mn in H1FY23. This impressive growth is predominantly driven by value-added products.

IIL’s strategic focus on enhancing the mix of value-added products, including Maharatna and Focus Maharatna has been instrumental in this growth. New products like Hachiman, Torry, and Shinwa over the past two years have contributed to the upward trajectory. In the last quarter, IIL introduced four new products to the market, including Supremo SP (an insecticide for paddy fields and vegetable crops), Nakshatra (an herbicide for sugarcane), Green Expert (a patented combination herbicide for paddy), and Bouncer (a non-selective herbicide).

Commenting on the performance, Rajesh Aggarwal, Managing Director of Insecticides (India) Limited, stated, “We continue to witness growth across our product portfolio, driven by R&D and backward integration initiatives. Favourable monsoon conditions in most parts of the country has reinforced demand for our products. Our focused marketing efforts and brand building activities have yielded positive results.”

IIL has made significant strides in digital engagement with farmers, enhancing channel engagement and providing crop advisors with accurate data. Additionally, The Patent Office, Government of India, has granted patent to IIL entitled “Novel Amide Compound, Method for Producing the Same, and Miticide.”

The company has further announced an Interim Dividend of Rs 3 per share (30 per cent of the face value of Rs 10/-), with a record date for the dividend set for November 10, 2023.

In the first \of FY24, IIL recorded

Agro chems – Chemicals, Agro chems – Fertilizers, Agro chems – Pesticides, Agrotech, India, Interaction

. Rajesh Aggarwal, Managing Director, Insecticides (India) Limited shares his views on the status of the agrochemical industry in India with AgroSpectrum. Edited excerpts:

Insecticides (India) Ltd is India’s leading and one of the top ten Indian agrochemicals manufacturing companies. IIL has emerged as a front-line performer in India’s crop care market with a top line of Rs 1192 crore in 2018-2019. In 2022, it launched its innovative biological product for improving the health of the soil called Kayakalp, the soil energiser which has received an overwhelming response. The company has state-of-the-art formulation facilities at Chopanki (Rajasthan), Samba & Udhampur (Jammu & Kashmir) and Dahej (Gujarat). IIL also has two technical synthesis plants at Chopanki and Dahej to manufacture technical grade chemicals providing the competitive edge by backward integration. Rajesh Aggarwal, Managing Director, Insecticides (India) Limited shares his views on the status of the agrochemical industry in India with AgroSpectrum. Edited excerpts:

How is Insecticides (India) contributing to the growth of the agrochemical sector in India?

Insecticides India (IIL) places a strong emphasis on the research and development of new crop protection and nutrition products both chemical and biological solutions. Our commitment to innovation is exemplified through four distinct R&D centers, each dedicated to different specialized areas. These centres boast state-of-the-art laboratories equipped with cutting-edge technology and staffed by qualified and experienced scientists. We firmly believe that investing in today’s research and development will secure a brighter future, positioning IIL at the forefront of the industry in the long term.

The pioneering Chopanki R&D centre, established in 2004, stands as a testament to our dedication which is now a GLP certified lab. This centre features a meticulously designed instrument and process laboratory that has gained international recognition among R&D professionals.

Our biologicals R&D centre specialises in the isolation and detection of beneficial microorganisms. Notable achievements include the development and commercialisation of VAM (Vesicular Arbuscular Mycorrhiza) and products like kayakalp & KK Pro, Soil Energiser.

Lastly, with the OAT Agrio Co. Ltd., Japan, a pioneering endeavour was undertaken to establish a facility dedicated to invention of agro-chemicals in India. This center, staffed by a team of over 45 scientists, is approved by DSIR, Ministry of Science and Technology, and led by Japanese experts. Its facilities include four Synthesis Laboratories equipped with advanced machinery such as NMR and UPLC-MS for new molecule analysis and characterisation. The centre also houses ultra-modern greenhouses for in-house testing, breeding rooms, bio-assay rooms, and spray cabinets. The focus here is on adopting international technologies from Japan and the USA for holistic growth and development.

Beyond our R&D endeavours, IIL remains deeply engaged in community-driven development initiatives with positive implications for the wider population. Owing to 105+ branded formulations, 21+ technical, and 380+ SKUs, IIL extends its support to the nation’s agriculture sector by educating farmers on sustainable crops practices and judicious use of the crop protection products. The flagship Kisaan Jagrukta Abhiyaan, initiated a decade ago, is aimed at educating farmers about optimal crop protection techniques to enhance food productivity. Additionally, the programme imparts knowledge about judicious agrochemical use, safety measures, and the cultivation of a third crop to enhance soil fertility and farmers’ incomes. Special camps and collaborative efforts further disseminate farming best practices.

Our unwavering commitment to R&D, community development, and sustainability positions us as a leading force in the agrochemical industry, fostering innovation, growth, and positive impact.

India is the world’s fourth-largest agrochemical producer and a net exporter. It has been estimated that the agrochemical market will reach $8.1 billion by 2025. How can India become competitive in this global market?

Continued investment in research and development is essential to create innovative and effective agrochemical products. R&D efforts should focus on developing novel formulations, sustainable solutions, precision agriculture technologies, and improved delivery mechanisms. Speeding up the registration process is another crucial step to ensure that the Indian agrochemical industry remains competitive in the global market. A swift and efficient registration process enables agrochemical companies to introduce their products to international markets in a timely manner. Accelerated registration processes provide a competitive advantage by allowing Indian companies to respond fast to emerging market trends, changing pest dynamics, and new challenges faced by farmers. In the fast-evolving global market, staying ahead of the curve by introducing novel products can set Indian companies apart from competitors.

To read more click on: https://agrospectrumindia.com/e-magazine

. Rajesh Aggarwal, Managing Director, Insecticides (India)

Agro chems – Chemicals, Company News, India

The company has invested more than Rs 300 crore over a period of two years to set up Dahej unit.

Leading agrochemicals company Dhanuka Agritech Ltd. announced the commencement of trial production at its new plant in Dahej, Gujarat. Company’s  Dahej plant is a technical manufacturing plant that will provide raw material security and the benefit of backward integration in the form of lower raw material costs. The company has invested more than Rs 300 crore over a period of two years to set up the unit, Dhanuka Agritech mentioned in filing to the stock exchanges.

Brokerage firm Prabhudas Lilladher said in its research report dated August 2 that it expected nearly Rs 50 crore of revenue contribution from the technical plant at Dahej in 2023-24, with an initial operating loss due to lower utilisation.

Dhanuka Agritech had also said that declining prices of agrochemicals would have an impact on the company’s margins as the delayed onset of monsoons led to delayed sowing and increased agrochemical inventories.

The company has invested more than Rs

Agro chems – Chemicals, Company News, Finance, India

The company has reported total income of Rs 388.99 crores during the period ended June 30, 2023, as compared to Rs 382.06 crores during the period ended June 30, 2022.

Agrochemical major, Hikal Limited has reported Consolidated financial results for the period ended June 30, 2023.The company has reported total income of Rs 388.99 crores during the period ended June 30, 2023, as compared to Rs 545.67 crores during the period ended March 31, 2023.

The company has posted net profit / (loss) of Rs. 6.92 crores for the period ended June 30, 2023 as against net profit / (loss) of Rs 36 crores for the period ended March 31, 2023. The company has reported EPS of Rs. 0.56 for the period ended June 30, 2023 as compared to Rs 2.92 for the period ended March 31, 2023.

Financial Results (Q1 FY2024) – YoY Comparison

The company has reported total income of Rs 388.99 crores during the period ended June 30, 2023, as compared to Rs 382.06 crores during the period ended June 30, 2022. The company has posted net profit / (loss) of Rs 6.92 crores for the period ended June 30, 2023, as against net profit / (loss) of Rs 8.86 crores for the period ended June 30, 2022. The company has reported EPS of Rs.0.56 for the period ended June 30, 2023, as compared to Rs 0.72 for the period ended June 30, 2022.

The company has reported total income of

Agro chems – Chemicals, Agro chems – Fertilizers, Agro chems – Pesticides, Company News, Finance, India, Inputs

Company’s PAT stood at Rs 291.42 Mn in Q1 FY24, compared to Rs 383.09 Mn in Q1 FY23, margins reduced from 6.83 per cent in Q1 FY23 to 4.55 per cent in Q1 FY24.

Insecticides (India) Limited (IIL), one of the leading players in the crop protection and nutrition industry has declared its financial results for Q1 FY24. Revenue from operations increased by 14.14 per cent to Rs 6,399.53 Mn in Q1 FY24 from Rs 5,606.90 million in Q1 FY23 on account of favourable monsoon conditions and increasing share of Focused Maharatna products like Hachiman, Shinwa and Torry as a result of our step ahead go-to-market strategies.

EBITDA margins stood at 7.13 per cent in Q1 FY24, a decrease of 329 BPS on account of liquidation of high-cost inventory from previous year. The high-cost inventory is significantly liquidated from the balance sheet. PAT stood at Rs 291.42 million in Q1 FY24, compared to Rs 383.09 million in Q1 FY23, margins reduced from 6.83 per cent in Q1 FY23 to 4.55 per cent in Q1 FY24.

Commenting on the performance Rajesh Aggarwal, Managing Director Insecticides (India) Limited said, “We had a strong quarter to start the year in terms of revenue growth as we witnessed a robust demand for our products owing to favourable monsoon. Although there was an initial delay in rains in certain regions of the country, our widespread presence across India mitigated the impact of this factor and helped us achieve a growth of 14.14 per cent YoY in Revenue from Operations.

We recently launched promising products in the form of Mission granule and Mission liquid, both of which have received very positive response from the market and contributed in our topline. Products launched in last few years like Torry, Hachiman, Shinwa, Green Label, Izuki, Dominant and Kunoichi have started yielding positive results, gaining massive tractions as a result of our concentrated marketing efforts on the entire Focused Maharatna range.

At IIL, we continue to move forward on our mission to grow responsibly towards a sustainable future through continuous support of our employees and other stakeholders I would like to conclude by thanking all our stakeholders for helping us move in the right direction.”

Company’s PAT stood at Rs 291.42 Mn

Agro chems – Chemicals, Agro chems – Fertilizers, Agro chems – Pesticides, Company News, Finance, India

Company’s gross margin for the quarter is at 30 per cent as compared to 19 per cent in Q4FY23 and 21 per cent in Q1 FY23.

 Best Agrolife Limited (BAL) has reported financial results for the Quarter ended June 30th, 2023. Company has reported revenue of Rs. 612 crores from operations for Q1FY24 which grew by 141 per cent Quarter to Quarter and 32 per cent on YoY basis compared to Rs 254 crores in Q4FY23 and Rs 464 crores in Q1FY23. Company’s gross margin for the quarter is at 30 per cent as compared to 19 per cent in Q4FY23 and 21 per cent in Q1FY23 which was an expansion of 1100bps QoQ and expansion of 900bps YoY. EBITDA for the quarter came at Rs. 130 crores up 1720 per cent QoQ and 97% YoY compared to Rs. 7 cr in Q4FY23 and Rs. 66 crores in Q1FY23. The improvement in EBITDA was driven by better product mix during Q1FY24.  EBITDA margin for the quarter came at 21 per cent as compared to 3 per cent in Q4 FY23 and 14 per cent in Q1FY23 which was an expansion of 1800bps QoQ and expansion of 700 bps YoY. PAT for the quarter was at Rs 90 Crores up 1168 per cent QoQ and 124 per cent YoY compared to Rs (8) Crore in Q4FY23 and Rs. 40 Crores in Q1FY23.  Profit After Tax margin for the quarter came at 15 per cent as compared to (3 per cent) in Q4FY23 and 9 per cent in Q1FY23 which was an expansion of 1800 bps QoQ and expansion of 600 bps YoY.

Commenting on results, Vimal Kumar, Managing Director, Best Agrolife Limited, said: “I am delighted to share that Best Agrolife has achieved remarkable growth momentum, with revenue from operations growing by 32 per cent Y-o-Y to Rs 612 Cr, despite the headwinds that the agrochemicals industry has been facing. Our herbicide portfolio products including Amito, Propique, Tombo, Ronfen and Warden have been the driving force behind this quarter’s growth. Additionally, our EBITDA margins of 21 per cent can be attributed to the increasing contribution of speciality, niche, and patented products to our overall revenue.

This quarter’s performance also reinforces the widespread acceptance of our products and Best Agrolife’s strong brand presence in the Indian agrochemical market. Focusing on FY24, we have already launched a couple of technicals in Q1, which are seeing promising traction, with plans to introduce one patented product in Q2. Our pipeline for technicals and niche formulations is geared up for launch over the next few quarters.

While the agrochemicals industry continues to face challenges, I firmly believe that our niche product basket will not only shield us from industry perils, but also drive robust growth in FY24. This gives us a reason to remain steadfast in our commitment to achieving a 30 per cent growth target and maintaining 20 per cent EBITDA margins for FY24.”

Product Pipeline for FY24:

 BAL has pipeline of 8+ products to be launched during the course of FY24 which includes a couple of patented products as well as some niche combination products and technical.

Company’s gross margin for the quarter is

Agro chems – Chemicals, Company News, Finance, India

The company has reported total income of Rs 663.7688 crores during the period ended June 30, 2023, as compared to Rs.844.7811 crores during the period ended June 30, 2022.

Agrochemical company, Sharda Cropchem Limited has reported Consolidated financial results for the period ended June 30, 2023.The company has reported total income of Rs 663.7688 crores during the period ended June 30, 2023 as compared to Rs 1488.8669 crores during the period ended March 31, 2023. The company has posted net profit / (loss) of Rs 88.6399 crores for the period ended June 30, 2023 as against net profit / (loss) of Rs 198.8348 crores for the period ended March 31, 2023.

The company has reported total income of Rs. 663.7688 crores during the period ended June 30, 2023 as compared to Rs.844.7811 crores during the period ended June 30, 2022.The company has posted net profit / (loss) of Rs 88.6399 crores for the period ended June 30, 2023 as against net profit / (loss) of Rs 22.6399 crores for the period ended June 30, 2022.

The company mentioned that raw material and finished goods sales price have reduced substantially. This has led to a stock revaluation as per Accounting Policy and has impacted the gross profit and profitability to the tune of Rs 71 crore.

The company’s revenue during the quarter declined 22.7 per cent year-on-year (YoY) to Rs 638 crore due to lower sales in Europe and the North American Free Trade Agreement (NAFTA) Region. The company said lower volumes in Europe and LATAM regions were on account of high inflation, ongoing recession and adverse weather conditions. It experienced significant decrease in product price realizations, especially in the US.

The company has reported total income of

Agro chems – Chemicals, Agro chems – Pesticides, Company News, India, Inputs

With this new introduction and a strong pipeline for this year, Dhanuka Agritech is optimistic to augment its position in the crop care product segment.

Dhanuka Agritech Ltd., one of the leading agri-input companies in India, strengthened its crop care portfolio by introducing a powerful new insecticide — DEFEND®.DEFEND® contains Triflumezopyrim 10% SC and gives complete protection from hoppers. Pyraxalt™ active, the active ingredient of DEFEND® insecticide inhibits the neurotransmission in affected insects, thus controlling their spread and completely wiping them away. DEFEND® gives immediate protection from first generation Brown Plant Hopper (BPH) and White Backed Plant Hopper (WBPH) in just one application on paddy. It gives effective control on different life stages of the insect.

With this new introduction and a strong pipeline for this year, Dhanuka Agritech is optimistic to augment its position in the crop care product segment. Dhanuka Agritech launched two selective herbicides, Mesotrax and Implode in the Q1 FY2023-24. It also diversified its crop care range introducing BiologiQ, a unique range of sustainable solutions developed with the fusion of traditional science and new-age agriculture practices. Dhanuka Agritech has a positive outlook for the agricultural sector in India for FY 2023-24 with new growth plans and a robust product pipeline. Dhanuka’s growth story remains strong and consistent as we focus our efforts on serving the needs of Indian farmers.

Dhanuka acknowledges the role of Indian farmers in nation-building and devotes Dhanuka’s efforts toward Indian farmers’ betterment. Dhanuka’s products, services, and work are Dhanuka’s dedication to all the farmers of India — India Ka Pranam Har Kisan Ke Naam.

With this new introduction and a strong

Agro chems – Chemicals, Agrotech, Company News, India

BAL is all set to launch this product in July with the brand name Tricolor and it will be the company patented product.

Agro chemical major, Best Agrolife Limited (BAL) has received the registrations for the indigenous manufacturing of the product Trifloxystrobin 10 per cent + Difenoconazole 12.5 per cent + Sulphur 3 per cent Sc under section 9 (3) FIM from Central Insecticides Board & Registration Committee (CIBRC). With this Best Agrolife Limited (BAL) will become the first Indian agrochemical company to manufacture the combination product of Trifloxystrobin 10 per cent + Difenoconazole 12.5 per cent + Sulphur 3 per cent Sc in India with brand name Tricolor.

BAL is all set to launch this product in July with the brand name Tricolor and it will be the company patented product. The company is launching Propaquizafop and Amytrn with the brand name Propique and Amito respectively in the first quarter of FY24. All these products will help us in maintaining the goal of 30 per cent growth and 20 per cent EBITDA margin in the current financial year.

BAL is all set to launch this