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Company News, Finance

The company also reported PBT of Rs 7 crores as compared to Rs 25 crores in Q3 last year

Mahindra Logistics Limited (MLL), one of India’s large 3PL solutions providers, has announced its consolidated financial results for the quarter ended on December 31, 2021 with revenue at Rs 1118 crore as compared to Rs 1047 crore in Q3 last year and EBITDA at Rs 50 crore against Rs 55 crore last year.

The company also reported PBT Rs 7 crores as compared to Rs 25 crores in Q3 last year and PAT Rs 5 crores compared to Rs 18 crores last year. For the nine months in FY22 revenue was Rs 3010 crore as compared to Rs 2290 crore last year and EBITDA at Rs 149 crore against Rs 101 crore.

Further the company reported that the revenue from warehousing services and solutions in the quarter grew 35 per cent over the same period last year underlining the focus on solutions-led approach to customer’s requirements.

Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics, said, “The quarter gone by was a challenging one. Demand from the auto sector continued to be impacted due to semi-conductor supplies; and the festive season too saw moderate growth. We continued to deliver strong revenue performance, especially across Consumer, Pharma and International freight forwarding. Our margins saw pressure due to seasonal manpower costs, lower than expected demand and start-up costs for new projects. The focus continues to be on optimising operating costs. We remain focused on delivering technology driven, integrated solutions for enterprise customers.”

The company also reported PBT of Rs

Finance

The company recorded consolidated revenue of Rs 901.4 crore for the period ended on December 31, 2021, a growth of 29 per cent over PY of Rs 697.3 crore.

Delhi-based agro-inputs major, Best Agrolife Limited has announced its financial results for Q3FY22 on January 25, 2022 in their Board of Directors meeting.

Commenting on the results, Managing Director of BAL, Vimal Alawadhi said, “The current quarter’s performance would be sustainable in quarter 4 too, as the production will soon commence in its newly set up state-of-the-art formulation unit Seedlings India Limited where BAL’s new proprietary formulation ‘RONFEN’ will also be produced. Above all, the strategic alliances with premier customers including leading MNC’s are also being formed under which new businesses will commence with newly launched high value speciality products.”
 
The company recorded consolidated revenue of Rs 901.4 crore for the period ended on December 31, 2021, a growth of 29 per cent over PY of Rs 697.3 crore. Profit before tax was at Rs 91.3 crore, with a growth of 466 per cent over PY of Rs 16.1 crore and the profit after tax was Rs 66.6 crore, registering a growth of 464 per cent over PY of Rs 11.8 crore. EBITDA was at Rs 103.7 crore (11.5 per cent) with a growth of 628 per cent over PY of Rs 14.2 crore (2 per cent).

Moving ahead with their expansion plan BAL has now acquired Agrico Chemicals through a cash deal of Rs 10.22 crore. Agrico Chemicals is situated at Phase-1, SIDCO Industry Complex, IGC Samba, Jammu & Kashmir.

This acquisition is crucial for BAL in many ways. Other than increasing the company’s revenue by Rs 150 crore approximately this unit will also add formulation capacity of 8000 KL/MT per annum. The plant at Agrico Chemicals will be specifically dedicated to proprietary formulations like WG, SC, and EC.

The company recorded consolidated revenue of Rs

Finance

The first tranche of $750M was raised in March and April 2021.

UPL Limited a global leader of crop protection products and sustainable agricultural solutions has announced, has raised a second tranche of $700 million sustainability linked loan (SLL) on December 31, 2021, with a reduction of interest cost by 35bps and an opportunity for a further reduction of 5bps on achievement of sustainability indicators agreed with the banks.

The first tranche of $750 million was raised in March and April 2021. Of the $1.45 billion, the debt maturity for $1.25 billion gets extended by two years to FY 2026 (against FY2024 earlier).

In 2021, the company was ranked as the highest performing top tier, global crop protection company amongst its peers by Sustainalytics for the second year running. UPL also recorded strong performances in the most recent Dow Jones Sustainability Index (61 per cent improvement on 2018 score) and FTSE Russell (68 per cent higher than industry average).

UPL is on a mission to re-imagine sustainability across everything it does – developing and distributing solutions that secure our future whilst safeguarding the environment.

The first tranche of $750M was raised

AgroPolicy, Finance, Foodgrains

This association will connect traders and processors with six leading private and public sector banks of India through SLCM Group.

Sohan Lal Commodity Management (SLCM), India’s leading holistic service provider in the global post-harvest space for agricultural commodities has signed an agreement with the Tamil Nadu Foodgrains Marketing Yard (TFMY) in order to provide finance against commodities stored in the TFMY warehouse facility.

Tamil Nadu Foodgrains Marketing Yard (TFMY) is a unique project that aims to provide necessary infrastructures for Cereals, Pulses and Staples (CPS) for Milling Cluster in and around Madurai. The project is being implemented under the Chairmanship of S Rethinavelu, Chairman and Managing Director. He is also the Senior President of Tamil Nadu Chamber of Commerce & Industry, Madurai.

The traders and processor can stockpile their produce in the warehouse and apply for finance against warehouse receipts.

Commenting on the association, Sandeep Sabharwal, Chief Executive Officer, SLCM Group, said, “The agreement with TFMY is a major step towards promoting the ease of financial inclusion for Agri traders and processors. Our strong relations with six leading private and public sector banks of India will be pivotal in enabling easy access to financial help for commodity depositors in warehouse. We are humbled that the Tamil Nadu government has placed its confidence in us.”

SLCM will be monitoring the goods and crops stored against each individual depositor using its proprietary solution ‘AgriReach’ that allows real-time monitoring and management of crops and in specific SLCM will be using its cutting edge technology of surveillance ‘Agri Suraksha’ which is part of the Agri Reach umbrella for monitoring, staff interaction, as well as surveillance of the selected warehouse. The organisation’s corporate headquarters in New Delhi are equipped to provide round-the-clock monitoring of produce across the country via mobile phones, handhelds, computers, etc.  

This association will connect traders and processors

Finance

OmniX Bio will provide venture funding, mentorship from global agrifood life sciences leaders, institutional partnerships and business development support to access domestic and export sales channels  

Omnivore announced today the launch of its OmniX Bio initiative to back early stage agrifood life science startups. The program will support Indian entrepreneurs who are working in agricultural biotechnology, novel farming systems, bioenergy and biomaterials, as well as innovative foods, including alternative protein. 

 Agrifood life sciences can play a critical role in tackling both climate mitigation (reducing India’s GHG emissions) and climate adaptation (securing a future for India’s farmers), as well as other agricultural sustainability challenges. 

OmniX Bio will provide venture funding, mentorship from global agrifood life sciences leaders, institutional partnerships, and business development support to access domestic and export sales channels. While all members of the Omnivore team will support OmniX Bio, a PhD life scientist will join the investment team in 2022 to oversee the initiative and help develop the agrifood life sciences ecosystem across India.

 Omnivore also disclosed the first investment under the OmniX Bio initiative: BioPrime, which is developing biological crop inputs that enhance yields without harming the environment or the health of farmers and consumers.  The BioPrime team has spent the past few years building SNIPR (Smart Nanomolecules Induced Physiological Response) and BIONEXUS. SNIPR is a discovery platform which identifies innate immunity or natural defence mechanisms in plants, curates unique traits, and delivers tailored crop input formulations. BIONEXUS is India’s largest trait modifying, plant-associated microbe collection. Changes in the diversity of microbiota can confer plants acquired traits like drought tolerance, disease resistance, and enhanced yields, to name a few.

Renuka Diwan, Co-Founder and CEO of BioPrime, said, “At BioPrime we are focusing on discovering fundamental aspects of plant communication, identifying new biomolecules and new modes of modulating plant responses. SNIPR and BIONEXUS enable BioPrime to develop new biologicals and radically improve existing products at a fraction of cost and time.”

Mark Kahn, Managing Partner of Omnivore, commented, “We are excited to launch OmniX Bio to help reboot the agrifood life sciences ecosystem in India. Technological advances in this space can effectively solve some of the toughest challenges in Indian agriculture. We hope to see more entrepreneurs like the BioPrime team step up to the challenge and help change the course of Indian agriculture for the better.”

OmniX Bio will provide venture funding, mentorship

Uncategorized

The company plans to significantly increase its presence to 100 Growing Centers in 20 countries

Infarm, a rapidly growing urban farming company with a global presence, announced that it has raised $200 million in a Series D funding round. The investment included participation from existing and new investors, including the Qatar Investment Authority (QIA) – which will support the company’s expansion to countries in the Middle East – Partners in Equity, Hanaco, Atomico, Lightrock, and Bonnier.

The additional capital will serve to expand the deployment of the company’s vertical farms in the US, Canada, Japan and Europe, and to enter new markets in Asia-Pacific and the Middle East with both in-store farming units and Infarm Growing Centers. In 2023, Infarm will open its first Growing Center in Qatar, where it will harvest tomatoes, strawberries and other fruiting crops besides herbs, salads and leafy greens.

This new farming model can be as much as 400 times more efficient than soil-based agriculture and uses no chemical pesticides. It requires 95 per cent less land and uses 95 per cent less water by recycling water and nutrients and using the evaporated water of the plants. 

Goldman Sachs Bank Europe SE and UBS acted as financial advisors to Infarm on this transaction.

The company plans to significantly increase its

Agrotech, Finance

Meiogenix has developed an innovative approach to common problems in agriculture

Meiogenix, an agriculture biotech company using the process of chromosome editing to expand genetic diversity in food and agriculture, has announced the closing of a $13 million (€11 million) Series A financing round, led by Sofinnova Partners, with participation from Genoa Ventures, Bpifrance, Casdin Capital and Alexandria Venture Investments.

Meiogenix has developed an innovative approach to common problems in agriculture, addressing key global food and industrial challenges. Meiogenix is applying gene and chromosome editing technologies to accelerate nature’s generation of biodiversity through the mixing of parental genomes during plant reproduction. This helps expedite the lengthy process of plant varieties selection and also leads to increased biodiversity, lost during the systematic selection of crops for high yield and long shelf life.

The Meiogenix platform addresses the $50 billion commercial seed market and breeding capabilities of large and essential crops like corn, wheat, rice, soybeans and tomatoes.  
 

Meiogenix has developed an innovative approach to

Finance, Schemes - NABARD

Expert’s views were taken into account for meeting the gap in augmenting productivity by way of agri- reforms, transformation, post-harvest management, collectivisation of agricultural produce, value addition and organising farmers into FPO

National Bank for Agriculture and Rural Development (NABARD) has projected a credit potential of Rs 36,292 crore for the state of Assam for the financial year 2022-23

NABARD launched the State Focus Paper today for the financial year 2022-23 which is the consolidation of exploitable district wise realistic potential, both in physical and financial terms in the state of Assam.
Focusing on the priority sector and to ensure integrated and sustainable rural prosperity in the state, NABARD has projected a credit potential of Rs 36,292 crore for the state of Assam for the financial year 2022-23 in the State Credit Seminar held on December 8, 2021. The credit potential is 12 per cent higher than the previous year.

Of the total projected credit potential, as much as Rs 18755 crore (52 per cent) is towards Agriculture and Allied activities, Rs 12952 crore (36 per cent) is towards MSME sector, Rs 1388 crore for Informal Credit – SHGs / JLGs and Rs 3197 crore for housing, education and other Sectors.

The State Focus Paper was released at Guwahati by Finance Minister Ajanta Neog, in presence of Additional Chief Secretary P K Borthakur, Regional Director, RBI, Sanjeev Singha and CGM SBI, R S Ramesh etc.
The credit potential estimated in the State Focus Paper will be used as a base for the preparation of the Annual Credit Plan for priority sector lending of the state by financial institutions for the year 2022-23.

Baiju Kurup, Chief GM, NABARD informed that the seminar deliberated upon the demand of credit at the grass-root level besides taking cognizance of the policy interventions and programmes initiated by NABARD, Financial Institutions, the State as well as Central Governments in various sectors. It was also informed that expert’s views were taken into account for meeting the gap in augmenting productivity by way of agri- reforms, transformation, post-harvest management, collectivisation of agricultural produce, value addition and organising farmers into Farmer Producers’ Organisation (FPO), which may help in creating local level commodity-specific value chains to enable small and marginal farmers to realise optimal value of their products, through better price discovery mechanisms.

Expert’s views were taken into account for

Finance, Schemes - NABARD

It aims to synergise the activities of allied sectors for bringing better value to the stakeholders.

APEDA has been focusing on a collaborative approach to bring synergy with a number of organizations and institutions having inherent professional and specialized expertise in different areas for capacity building of various stakeholders and providing solutions for addressing some of the identified interventions for the development of Agriculture and its export enhancement, in consonance with the objectives set under Agri Export Policy announced by Government of India.

The Agriculture Export Policy was framed with a focus on agriculture export-oriented production, export promotion, better price realisation to farmer and synchronisation within policies and programs of the Government of India. It focuses on ‘Farmers’ Centric Approach for improved income through value addition at the source itself to help minimise losses across the value chain. Policy, therefore, suggests to adopt the approach of developing product-specific clusters in different agro climatic zones of the country to help in dealing with various supply side issues viz., soil nutrients management, higher productivity, adoption of a market-oriented variety of crop, use of Good Agriculture Practices etc.

APEDA and NABARD have signed MoU at their respective Head offices through online virtual mode to utilise their expertise by mutually working together to synergise the activities in the interest of agriculture and allied sectors for bringing better value to the stakeholders.

National Bank for Agriculture and Rural Development (NABARD) is established as a development bank for providing credit for promotion of agriculture, small scale, cottage and village industries, handicrafts and other allied activities in rural areas, with a view to promote integrated rural development and securing prosperity of the rural areas and for matters connected therewith or incidental thereto.

It aims to synergise the activities of

Supply Chain, Warehousing

The fund will generate superior risk-adjusted returns by investing in high-quality Grade-A warehousing and logistics opportunities

Landmark Capital has launched Landmark Warehousing & Logistics Fund. The fund is targeting a corpus of Rs 500 crore, including a green-shoe option of Rs 200 crore. The fund is targeting investment in Grade-A assets with 60 per cent in warehousing and 40 per cent in other industrial assets across key markets Mumbai, Kolkata, Bengaluru, NCR and Chennai. 

The fund is launched to generate superior risk-adjusted returns by investing in high-quality Grade-A warehousing and logistics opportunities. Landmark Capital is focusing on non-speculative built-to-suit assets and diversification across geographies to ensure effective risk mitigation. The fund’s deal pipeline accounts for over 400 acres of land with marquee names as potential anchor tenants.

The fund will generate superior risk-adjusted returns