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HomePosts Tagged "Managing Director" (Page 4)
Agro chems – Chemicals, Agro chems – Fertilizers, Agro chems – Pesticides, Company News, Finance, India, Poultry

Segment results of Crop Protection business improved significantly by 224 per cent in Q1 FY24 as compared to the same period last year.

Godrej Agrovet Limited (GAVL) has today announced its financial results for the first quarter ended June 30, 2023. The Company reported consolidated revenues from operations of Rs 2,510.2 crore in Q1 FY24, unchanged from the same period last year. FY24 consolidated EBITDA* increased to Rs 206.8 crore from Rs. 169.3 crore in Q1 FY23, a growth of 22 per cent year-on-year. Q1 FY24 Profit before tax* increased to Rs 124.5 crore from Rs 102.8 crore in Q1 FY23, a growth of 21 per cent year-on-year.

Commenting on the performance, B. S. Yadav, Managing Director, Godrej Agrovet Limited, said, Godrej Agrovet started FY24 with a strong growth in profitability and margin expansion in the first quarter ended June 30, 2023. While our topline growth was flat, we achieved 21 per cent  year-on-year growth to clock Profit before tax of Rs. 124.5 Crore in Q1 FY24. The growth in profitability was driven by the strong performance of domestic Crop Protection, Animal Feed and Poultry businesses.

With robust volume growth and improved realizations in HITWEED (in-house herbicide), domestic Crop Protection business achieved a record quarterly topline and profitability in Q1 FY24. Segment results of Crop Protection business improved significantly by 224 per cent in Q1 FY24 as compared to the same period last year. In Feed business, sustained volume growth in cattle-feed and aqua feed was accompanied by notable recovery in margin profile across categories. Our food businesses-maintained volume growth momentum in branded products and delivered margin expansion. In Poultry, revenues from branded products increased by 15% year-on-year led by higher volumes. Lower live bird costs on account of better operational efficiencies boosted profitability as segment EBITDA grew by 50% year-on-year. Dairy business turned EBITDA positive in Q1 FY24. The higher salience of value-added products coupled with reduction in procurement costs contributed to recovery in margin profile.

Astec LifeSciences and Vegetable Oil businesses were adversely impacted by challenging market conditions. The continued demand-supply imbalance and the resultant decline in volumes as well as realizations of key enterprise products led to a sharp drop in Astec’s profitability. Astec’s contract manufacturing business, however, remained on track and its performance was in line with our expectations. Vegetable Oil business suffered from correction in end-product prices more than offsetting higher volumes.

During the quarter, GAVL commissioned its first downstream project in Vegetable oil business of an edible oil refinery in Andhra Pradesh. The refinery has a capacity of 400 MT per day.

Segment results of Crop Protection business improved

Agro chems – Chemicals, Company News, Finance, India

Company registered sales of Rs 33,746.5 million in Q1 2023-2024, as compared to Rs 38,877.9 million in Q1 2022-23 representing a decrease of 13 per cent.

Agrochemical major, BASF India Limited has reported Profit Before Tax (before exceptional items) of Rs 1,518.7 million for the quarter ended June 30, 2023, as compared to profit before tax (before exceptional items) of Rs 2,641.4 million in the prior-year quarter. 

Company registered sales of Rs 33,746.5 million for the first quarter ended June 30, 2023, as compared to Rs. 38,877.9 million in the corresponding quarter of the previous year, representing a decrease of 13 per cent.

“Despite delayed monsoons the Agricultural Solutions team maintained their revenue growth at par with previous year. This led to better realizations in the market, contributed by the new products launched last year which continue to perform well. Most business segments are impacted due to higher input cost and softening of demand.” said Alexander Gerding, Managing Director, BASF India Limited.

Company registered sales of Rs 33,746.5 million

Agro chems – Chemicals, Agrotech, Company News, India, Machinery - Pre-harvesting

The company hopes that the campaign will be a catalyst as it hopes to consolidate on its 105+ branded formulations, 380+ SKUs, and an impressive FY 2022-23 with about 5 new products and further growth in 2024.

New Delhi based Insecticides (India) Limited, one of India’s premier crop protection companies has launched an anthem for its revolutionary umbrella brand “Tractor Brand”. The anthem, which also features the brand’s ambassador and Bollywood superstar Ajay Devgn, covers several leading IIL products under the Tractor Brand, including Shinwa, Mission, Izuki, Hercules and Sofia. This comes as the company continues to seek more innovative ways to connect to farmers across India and beyond.

IIL has reiterated its commitment once more to agricultural growth through farmers welfare and empowerment. The popularity of the Tractor brand stems from its position to make the mandate of IIL a reality, as well as its “hand-in-hand” with farmer’s strategy. The brand hopes that the campaign will be a catalyst as it hopes to consolidate on its 105+ branded formulations, 380+ SKUs, and an impressive FY 2022-23 with about 5 new products and further growth in 2024.

The campaign, conceptualized by BEI Confluence, a leading advertising agency with 360 integrated solutions with long experience in FMCG & Agri/Rural Category, would be transmitted across multiple platforms to provide the much-needed education and enlightenment to its teeming farmer population and raise awareness about the Tractor Brand. The anthem comes in a colorful potpourri of dance, music, laughter, and happy faces, performed in multiple languages to appeal to India’s incredible diversity.

“This is why this anthem is necessary and I am happy with its execution. Today Tractor Brand has its credibility and is popular among the farming community now we need to take this relationship to next level. It is a great way to connect with them and give them a sense of belonging to our “Tractor Brand”. We hope this will better take our message of the Tractor Brand and help the farmers understand the need to use our Tractor Brand range of products for increased productivity.,” said Rajesh Aggarwal, Managing Director, Insecticides (India) Limited.

The anthem was packaged with a well-thought-out strategy to make it easy for Indians to sing along and have a feel-good feeling, reflecting the brand’s desire to uplift the farmer’s spirit every time they use a Tractor Brand product. Aggarwal adds that the overall aim of the company is to extend its support to the nation’s agriculture sector by educating farmers on developing sustainable crops, and providing the products that will help them achieve such crops.

The company hopes that the campaign will

Agro chems – Fertilizers, Company News, India, Sustainability

The sustainability report centres on the 5C approach to sustainability at Yara: Commit, Channelize, Care, Concern, and Contribute

Yara India, a part of Norwegian multinational Yara International – the world’s leading crop nutrition company and a provider of agricultural, industrial, and environmental solutions, announced the release of its first India Sustainability Report. The report describes Yara’s approach to enhancing the sustainability of its business processes in India and progress towards change. Yara India has reached 11.8Mn farmers digitally and positively impacted the lives of 68,000 members of the farmer fraternity through its partnerships with more than 125 FPOs across 13 states.

The sustainability report centres on the 5C approach to sustainability at Yara: Commit, Channelize, Care, Concern, and Contribute. These pillars align well with UN SDGs, while addressing areas like GHG emission reduction, energy conservation, water stewardship, circularity, and biodiversity. The company developed a plan to invest in initiatives and programme creation in areas that will lower operating costs, induct higher female workforce across value chain, provide revenue opportunities, and lower operating risks.

On the occasion Sanjiv Kanwar, Managing Director, Yara South Asia said, ” Our work enables us to impact sustainably along the manufacturing and agricultural value chains, while offering high-tech solutions to the farmers feeding the globe. Our teams are also assisting us consistently in this endeavour and we are also relying on them for innovative ideas to enhance productivity, eradicate waste, and reduce costs. Through our initiatives, we have been able to reach out to 11.6Mn farmers and directly support 68,000 members of the farming community across 13 states.”

The company is already creating and developing solutions that cater to the changing needs of farmers and reduce environmental impacts. The report, which aligns with the Global Reporting Initiative, highlights company accomplishments such as:

Commit: 11.6 Mn farmers reached through online sessions, partnerships with more than 125 FPOs across 13 states enable us to directly connect with and support around 68,000 members of the farmer community. Yara Crop Nutrition Centres (YCNC) attracts 0.7- 1.0 million farmers monthly.

Channelise: Created opportunities for women in customer-facing roles such as agronomy and sales and as agri-entrepreneurs; partnered with 7 women-only FPOs and Women formed 50% of the Yara India Advisory Council, which has been established to guide the organisation across various strategic business imperatives

Care: Impacted 65,000 lives through our CSR initiatives; special initiatives for physical, mental & emotional well-being of our people. 99 per cent of full-time employees covered through training sessions during the year

Concern: Measures towards, reducing scope 1 GHG emissions are being undertaken along with rigorous process for waste segregation and recycling. Installation of 600 KLD MBR based sewage treatment plant for water treatment is underway.

Contribute: Generated employment for 1535 people. Supported 55 small businesses.

The sustainability report centres on the 5C

Agro chems – Chemicals, People

Karlekar is a renowned technocrat in chemical arena and R&D expert with more than 35 years of rich experience in the agrochemical industry.

India’s leading Agrochemical company Best Agrolife Ltd announced the appointment of Pramod N Karlekar as the Managing Director of their subsidiary company Best Crop Science Pvt Ltd (BCSPL).   Karlekar is a renowned technocrat in chemical arena and R&D expert with more than 35 years of rich experience in the agrochemical industry. He holds an impressive track record of handling strategic leadership roles and business operations of many multinational companies & large Indian corporate houses.

“We feel fortunate to have Karlekar on board and we are sure that under his direction BCSPL will reach new heights. Karlekar’s proven leadership skills, superior management skills, strong customer focus, sharp commercial acumen, strategic business focus, and long experience of holding leading roles in the chemical industry will help the company to develop and execute winning growth strategies,” says Vimal Alawadhi, Managing Director of Best Agrolife Ltd (BAL).

A Chemical Engineer from UDCT- one of the top Indian Institute for Chemical Technology and a Management Graduate from Mumbai University, Karlekar has a diverse and enriching professional background. He has been associated at the apex level with many reputed organizations starting with Davy Powergas India – an engineering consultancy firm of global repute.

He promoted Sudarshan Farm Chemicals India Private Limited in 2018 with a view to develop chemical technologies for products not being manufactured by anyone in India thus far and assumed the position of its CMD. Now, he would be taking over the responsibility as Managing Director of BCSPL, while continuing to be the Chairman of Sudarshan Farm Chemicals.

While fulfilling his responsibilities for various commercial assignments mentioned above, he has also contributed to the cause of industry in the capacity of Director on the board of CropLife Asia and CropLife Africa- Middle East and also as Director on Crop Care Federation of India for over last two decades.

Karlekar is a renowned technocrat in chemical

AgroPolicy, Dairy, Live Stock

The 48-member Committee will meet once every quarter in a financial year to discuss, recommend, prescribe and advise policies regarding the sectors.

The Ministry of Fisheries, Animal Husbandry and Dairying (FAHD), Government of India, has announced the formation of a National Advisory Committee for Animal Husbandry and Dairying sector encompassing several industry experts and business leaders.

Balram Singh Yadav, Managing Director, Godrej Agrovet Limited, has been appointed as an industry representative in the committee. The newly formed Committee will be chaired by Hon’ble Union Minister (FAHD), Parshottam Rupala, and co-chaired by MoSs (FAHD), Dr Sanjeev Kumar Balyan. The 48-member Committee will meet once every quarter in a financial year to discuss, recommend, prescribe and advise policies regarding the sectors.

On the appointment, Balram Singh Yadav, Managing Director, Godrej Agrovet Limited, said, “I am thankful to the Ministry for giving me with this opportunity. It is an honour to work with some of the industry’s brightest and most committed minds and contribute towards the future growth of the country. The Fisheries, Animal Husbandry, and Dairy sectors have a lot of scope for furthering its contribution to the Indian economy at large. I am confident that right policies and ecosystems crated through the concerted efforts of the government and the industry will lead to high employment generation and help elevate farmers’ income.  

Dr O.P. Chaudhary, Joint Secretary, Department of Animal Husbandry and Dairy (DAHD), Government of India (GoI) will act as Member Secretary of the Committee and plan coordination unit of DAHD; GoI will provide all secretarial assistance to the Committee. This Committee comprises various government officials, union leaders, experts in the fields, farmers, and industry representatives to recommend, prescribe and advise policies relating to cattle & dairy development, feed and fodder, poultry, piggery, sheep, goal, animal health, other livestock, etc.

The 48-member Committee will meet once every