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HomePosts Tagged "Best Agrolife Limited (BAL)"
Agbiologicals, Agribusiness, Company News, Herbicides, India, R&D

With an estimated annual business potential of approximately Rs 2000 crores in the rice herbicide segment, BAL anticipates ″Orisulam″ to be an important growth driver.

Best Agrolife Ltd (BAL), a leading manufacturer of speciality and patented agrochemicals in India, has announced registration of two innovative formulations. Best Agrolife Ltd (BAL) group has been granted 9(3) Formulation Indigenous Manufacture (FIM) registration from CIB & RC for its patented formulation Bispyribac Sodium 0.25% + Penoxsulam 0.25% + Pyrazosulfuron Ethyl 0.20% GR. The three molecules of this combination belong to ALS (acetolactate synthase) inhibitors herbicide group. The ALS inhibitors disrupt essential amino acid synthesis in weeds providing triple the effectiveness in control of weeds.

BAL will be introducing this formulation in the upcoming Kharif season under the brand name “Orisulam.” With an estimated annual business potential of approximately Rs 2000 crores in the rice herbicide segment, BAL anticipates ″Orisulam″ to be an important growth driver.

″Orisulam″ is a broad-spectrum pre-emergence, early post-emergence and post-emergence contact and systemic herbicide for paddy. Its patented triple combination of three molecules ensures weed control of grasses, broad leaves, sedges. It offers a comprehensive strategy with a flexible window of application and the granular formulation has been specially designed for ease of application.

The Best Agrolife group also received 9(3) FIM vs FIT registration for Boscalid 25.2% + Pyraclostrobin 12.8% WG. This fungicidal combination is effective in specialty crops such as grapes for the control of downy mildew and powdery mildew diseases.

BAL has been making significant strides in its product portfolio. Earlier, the company received registration for its patented formulation ″Defender″, a groundbreaking formulation for effective control of BPH in the crop health segment in paddy.

This year, the company has achieved several milestones including the registration of Fomesafen Technical 95 per cent, patent for ″Tricolor″ formulation, patent for ″Warden Extra″ formulation, and the patent for ″Shot Down″ formulation.

With an estimated annual business potential of

Agbiologicals, Agribusiness, Agro chems – Chemicals, Company News, Herbicides, India

Shot Down addresses a critical gap in the market, offering a one-shot solution for the simultaneous control of sedges, broad-leaved, and narrow-leaved weeds.

Best Agrolife Limited (BAL), a prominent agrochemical company in India has announced the introduction of a patented groundbreaking synergistic herbicidal composition. The novel composition comprising Haloxyfop, Imazethapyr, and Butylated Hydroxy is expected to revolutionise soybean cultivation by providing an all-encompassing solution to control a broad spectrum of weeds. The product will be launched nationwide under the brand name ‘Shot Down.’

Shot Down addresses a critical gap in the market, offering a one-shot solution for the simultaneous control of sedges, broad-leaved, and narrow-leaved weeds. Unlike existing options that may require multiple sprays or intensive manual weeding, Shot Down stands out as a selective herbicide that eliminates weeds without compromising crop yield or quality. Its incorporation of antioxidants enhances crop safety by mitigating potential oxidative stress.

BAL emphasised the product as an outcome of its focus on R&D and extensive field trials. Shot Down has demonstrated its potential as a single-spray solution, reducing the need for multiple applications and the farmer’s expenditure.

BAL stands as a trailblazer in agricultural R&D, establishing itself as a company of ‘Patent Power.’ After Ronfen and Tricolor, the addition of ‘Shot Down’ to its portfolio reinforces the commitment to agricultural innovation and increasing farmer satisfaction. With a robust pipeline of future patent molecules, Best AgroLife Ltd. remains at the forefront of agricultural solutions for continued value growth.

 Furthermore, Seedlings India Pvt. Ltd, a wholly owned subsidiary of BAL, has obtained approval from the Central Insecticides Board & Registration Committee (CIB & RC) for the indigenous manufacturing of another under-patent formulation featuring Trifloxystrobin, Thiamethoxam, and Thiophanate Methyl. This one-shot solution is also poised to revolutionise Indian agriculture by effectively controlling insects and fungal diseases, leading to enhanced crop yields. BAL is planning for a nation-wide launch in April 2024 under the brand name of ‘Warden Extra.’

Shot Down addresses a critical gap in

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, 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, India, Inputs

BAL to become the first Indian agrochemical company to manufacture Cyhalofop-butyl, a herbicide that controls grass weed growth in rice crops

Best Agrolife Limited (BAL) has informed that it has received the registration for the indigenous manufacturing of Cyhalofop-butyl u/s 9(3) by the Central Insecticides Board & Registration Committee. Cyhalofop Butyl is a post-emergence herbicide that controls grass weeds’ growth in rice crops. Vimal Alawadhi, MD, Best Agrolife Ltd (BAL), said, “India is the second largest producer of rice, and it is cultivated on about 44 million hectares in our country. However, rice grain production in India suffers a yearly loss of more than 15 million tonnes due to weeds competition, mainly grassy weeds.” 

He explained further, “A post-emergence, herbicide Cyhalofop-butyl, is used for controlling weeds in rice plantations. These herbicides stop weed growth immediately, thus minimising crop losses and facilitating high production.” 

With Cyhalofop-butyl, the organisation also announced that they had received the registration for the indigenous manufacturing of Propaquizafop Technical, another crucial post-emergence herbicide. Such indigenous manufacturing of herbicides can help rice production in India to a large extent by minimising losses. The estimated market size of Propaquizafop is Rs 350 Cr in India, and the global Cyhalofop-butyl market is set to reach $132.48 million in the coming years, as per the market research. 

Vimal Alawadhi concluded, “We received many important registrations and patents in the previous year, and the new year has begun on an excellent note as well. Our company achieved exponential growth in the last quarter, and we are scaling up our efforts and strategies to improve our performance further. A key element in this strategy is a continuously evolving product line. It helps us remain competitive and maintain our annual growth rate and EBITDA, which at present is at 30 percent and 20 percent, respectively.” 

BAL, as a company, manufactures technical grade herbicides as well as the formulation of the molecules, which in turn helps in curtailing the surge in imports primarily from China which has made Indian manufacturing non-viable to a greater extent till now. These registrations have immense potential for value addition in Indian agriculture. They also work in line with the government policy of “Atmanirbhar Bharat” and “Make in India” mission.
 

BAL to become the first Indian agrochemical