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HomePosts Tagged "Vimal Alawadhi"
Company News, Finance, India

Best Agrolife Board has also recommended a dividend of 30 per cent (Rs. 3 per share), which is a 50 per cent jump over last year

Best AgrolifeLimited recorded revenue of Rs. 1746 crores increased by 44 per cent in FY 2022. Best Agrolife Board has also recommended a dividend of 30 per cent (Rs. 3 per share), which is a 50 per cent jump over last year. The company reported financial results for the Quarter and Year ended March 31st, 2023.

Commenting on results, Vimal Alawadhi, Managing Director, Best Agrolife Limited, said, “I am delighted to inform you that we have delivered strong revenue from operations of Rs. 1,746 cr. which is a robust growth of 44 per cent over FY22. Our constant focus on introducing innovative products to cater to farmer’s needs has resulted in BAL introducing many specialised combination products including a patented novel combination Ronfen in FY23 which drove growth during the year. We have also expanded our margins by 427 bps during the year which was driven by a change in product mix.

Q4FY23 was difficult for the industry at large due to higher channel inventory and excess supply from China at lower prices. Best Agrolife was also affected by this as its branded product portfolio is more focused on the Kharif season. The company is working towards introducing more branded products which are focused on the Rabi season which will improve the breadth of the portfolio and will also make the portfolio more balanced which is currently skewed more towards the Kharif season.

Overall, the company has an exciting product pipeline ready to be launched in FY24 which is in line with its strategy of introducing more patented and specialised combination products which will help continue strong growth momentum as well as improve the margins in FY24.”

Best Agrolife Board has also recommended a

Company News, India

Sanjeev Kharbanda comes with extensive hands-on experience of over 28 years in management and business leadership

Best Agrolife Ltd, India’s leading agrochemical company, announced the hiring of business transformation leader, Sanjeev Kharbanda, as Chief Financial Officer (CFO) to further strengthen and boost the company’s financial operations and key long-term business strategies

A finance professional and business transformative leader Sanjeev Kharbanda comes with extensive hands-on experience of over 28 years in management and business leadership.

Commenting on the appointment, Vimal Alawadhi, Best Agrolife Ltd (BAL) founder and MD said, “We are pleased to welcome Sanjeev Kharbanda to our leadership team during an exciting time of growth for the company. Other than his deep knowledge of both Indian and international financial markets he also holds a stellar record of delivering tangible results and creating long-term, sustainable value. With his invaluable breadth of experience, Kharbanda will surely help in role in taking BAL to new heights of success.”

Kharbanda joins BAL from Aqualite Industries Private Limited, a footwear brand on a growth trajectory, where he managed the dual role of CFO and Business Co-Pilot for all strategic decisions or moves. He has also worked as General Manager – Corporate Finance with Mother Dairy Fruit & Vegetable Private Limited for more than a decade and at senior profile with other organisations across the sectors, broadly including FMCG and Telecommunication. As CFO, Kharbanda will lead the financial activities of the organisation including performance improvement, financial operations, investor sourcing, stakeholder management, and more.

“I am excited to be joining BAL as CFO and to be exploring the industry of agrochemicals which is quite new for me. Over the past few years, BAL has grown remarkably and is swiftly climbing up the success ladder through new opportunities, under the leadership of highly professionalised and visionary Board Members. I look forward to working with the Board, and team and collaborating with internal and external stakeholders on this next stage of development to accelerate the company’s strategic growth and path to profitability,” said Sanjeev Kharbanda, CFO of BAL.

Sanjeev Kharbanda comes with extensive hands-on experience

Agro chems – Chemicals, Award, Company News, India

The 4th PMFAI SML Annual Agchem Awards ceremony followed the exhibition

Best Agrolife, the leading agrochemical manufacturer in India, bagged the award for Outstanding Innovation in Crop Solution at PMFAI-SML Annual Agchem Awards 2023. The Pesticides Manufacturers & Formulators Association of India (PMFAI) hosted the 17th International Crop-Science Conference & Expo in Dubai, UAE. The Ministry of Chemicals & Fertilizers Department of Chemicals & Petrochemicals supported the event.

Upon receiving this recognition, Vimal Alawadhi, MD, Best Agrolife Ltd. said, “It is a matter of great honour to be recognised on such a prestigious global platform. I congratulate my entire team for this tremendous feat. I would also like to thank the jury members for recognising BAL for our revolutionary innovations like ‘Ronfen’ which has proven extremely successful among farmers and has advanced the transition to more sustainable agriculture.”

The 4th PMFAI SML Annual Agchem Awards ceremony followed the exhibition. Leading agrochemical companies from 46 countries participated in the expo and showcased their product portfolios during the event. The event was a resounding success seeing a high footfall this year.

“It is a significant occasion for individuals directly or indirectly associated with the agrochemical industry which not only provides us with a great platform to meet and interact with our fellow agrochemical industrialists from around the world but we also get to know about the new product launches and the development of the agrochemical sector. However, the attention that BAL received during this whole event was the highlight for us this year. Our fellow delegates and participants were hugely impressed by the successful journey of our company and they expressed their keen interest in our recently launched products.” 

The 4th PMFAI SML Annual Agchem Awards

Agro chems – Chemicals, Company News, India, Sugar industry

It is used as a pre, early post, and post-emergent herbicide to control weeds in sugarcane

Best Agrolife Limited a prominent Indian agrochemical company, announced that it had been granted a patent for its invention titled ‘Synergistic Herbicidal Composition of Triazine and Sulfonylurea Herbicides with Phenoxyacetic Herbicide’ for a term of 20 years. This new patent is a combination of Ametryn+2 and 4D+Halosulfuron methyl. It is used as a pre, early post, and post-emergent herbicide to control weeds in sugarcane.
 

“Sugarcane is of paramount importance to Indian agriculture and economy. India is the world’s largest producer and consumer of sugar, as well as the second-largest exporter of sugar. Unfortunately, due to the lack of efficient and safer herbicides, the country experiences a total loss of around 25 million tonnes of cane yield annually (equivalent to 2.5 million tonnes of sugar) valued at approximately Rs 1500 crores. Therefore, there is an urgent demand for more sustainable herbicides to control even the toughest weeds at all stages,” explained Vimal Alawadhi, Managing Director, Best Agrolife Ltd.
 

“Conventional herbicides could control weeds at certain growth stages by targeting only the leaf part of weeds and not the root. Furthermore, issues such as residue, volatility, and quick regrowth of weeds have been long-standing problems for sugarcane growers. With this new patent, we will be able to provide sugarcane growers with a more effective, efficient, and sustainable solution for all the aforementioned weed-related problems,” he added.
 

Halosulfuron-methyl, a sulfonylurea herbicide, can be absorbed by leaves and transferred to the underground parts of the plant, allowing it to kill both the overground leaves and the underground roots. In contrast, Ametryn is a triazine selective systemic herbicide for controlling annual grass weeds like crabgrass and green bristle grass and part of broad-leaf weeds in sugarcane fields. The halosulfuron-methyl and Ametryn mixture can kill grass weeds, broad-leaf weeds, and other stubborn weeds in pre, early, post, and post-emergent stages, resulting in improved sugarcane yield with high sugar content.

It is used as a pre, early

Agro chems – Chemicals, Company News, India, Inputs

All newly launched products are highly effective and affordable crop solutions and are a boon for agriculture sector.

Expanding its agri-chemical line-up, Best Agrolife Ltd. (BAL), India’s leading agrochemical manufacturer, launched six new formulations – Amito, Promos, Propique, Ghotu, Doddy, and Headshot along with their star products Citigen and Vistara.

More than 200 distributors from Uttar Pradesh, Haryana, Punjab and Himachal Pradesh participated in the event held in Greater Noida, Uttar Pradesh. BAL also utilised the occasion to create awareness about the benefits of its line-up and informed the audience how the company is efficiently transforming India’s agricultural sector. The participants expressed their keen interest in the products.

“It is indeed a milestone for us. Best Agrolife firmly believes in our Prime Minister’s ‘Make in India’ vision and is actively taking it further to improve agricultural yield and farmers’ economic conditions. We believe we can only grow when we share our advancements with all the people associated with our industry. All our newly launched products are highly effective and affordable crop solutions and are a boon for our agriculture sector. Other than enhancing the productivity in the fields, they will also provide the distributors and dealers with a marketing edge,” said Vimal Alawadhi, Managing Director, Best Agrolife Ltd. 

All newly launched products are highly effective

Agro chems – Chemicals, Company News, Finance, India

Q3 PAT at Rs 30.61 up 101 percent from Rs 15.23 crore last year.

Best Agrolife Ltd. the leading agrochemical company in India, declared financial results for Q3FY23 in its Board of Directors meeting. The company showed significant Year on Year growth for the quarter ending & 9 months ending 31st Dec 2022.

Consolidated Key Highlights-Q3 & 9 Months ending FY23

  • The company recorded revenue of Rs 327.8 crore, a YoY growth of 41 percent as against Rs 232.5 crore in Q3 FY22. On 9 months basis revenue grew 65.5 percent (Rs 1492 crores as against Rs 901 crore in 9 Months last year) Q3 EBITDA at Rs 58.1 crore up 79 percent from Rs 32.43 crore last year. On 9 months basis EBITDA at Rs 306.5 Crores up 196 percent from last year of Rs 103.7 cr.
  • Q3 PAT at Rs 30.61 up 101 percent from Rs 15.23 cr last year. 9 Months PAT at Rs 200.6 cr up 202.2 percent from last year of Rs 66.4 cr.

Commenting on the performance for the quarter and period ending December 2022 Vimal Alawadhi, Managing Director, Best Agrolife Ltd. (BAL) said, “We are glad to share that despite being a lean season BAL successfully managed to remain consistent with its performance in the third quarter of this financial year. While the company has shown growth with a positive outlook across all the business segments during this period. We are fully focussed on our global export expansion which will start reflecting in our revenue growth soon. The company is set to introduce new and exclusive patented products like Ronfen and other different segment products which will scale up our growth further in the next financial year.”

It is important to note that BAL recently obtained registration for the indigenous manufacturing of Cyhalofop-butyl and Propaquizafop Technical u/s 9(3) along with several crucial technicals.

Q3 PAT at Rs 30.61 up 101 percent from