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HomePosts Tagged "Vimal Kumar"
Agribusiness, Agro chems – Chemicals, China, Collaborations, Company News, India

The partnership will focus on identifying new opportunities for product registrations, exploring factory cooperation through joint ventures, and leveraging best practices to expand market reach.

Best Agrolife has announced a strategic partnership with Shanghai E-Tong Chemical Co., Ltd., a listed agrochemical manufacturer based in Shanghai, China. The partnership, formalised through a Memorandum of Understanding (MOU) between Best Agrolife Ltd. and Shanghai E-Tong Chemical Co. Ltd., will focus on collaborative research, manufacturing, and global market development efforts.

The MOU outlines a long-term vision for collaboration between the two companies, emphasizing joint research and development of agrochemical technical, manufacturing intermediates, and introducing cutting-edge products for global customers. The partnership will also focus on identifying new opportunities for product registrations, exploring factory cooperation through joint ventures, and leveraging best practices to expand market reach. Through this collaboration, both companies aim to harness their combined expertise to address the evolving challenges of modern agriculture and deliver solutions that enhance productivity and sustainability.

Commenting on the partnership, Vimal Kumar, Managing Director of Best Agrolife Ltd., said, “This strategic partnership with Shanghai E-Tong Chemical Co., Ltd. is a pivotal milestone in our journey towards redefining agricultural innovation. As our first-ever R&D-focused MoU with a Chinese company, it symbolizes a new era of global collaboration for Best Agrolife. This alliance is not just about technical advancements; it reflects our shared vision of creating transformative solutions that empower farmers and enhance sustainable agricultural practices. We are confident that this partnership will pave the way for groundbreaking innovations and set new benchmarks for excellence in the agrochemical industry. This collaboration with Shanghai E-Tong Chemical Co., Ltd. represents a significant step forward in our mission to innovate and grow in the agrochemical space. It is a step forward in addressing the evolving needs of agriculture and strengthening our position in the global agrochemical industry.”

E-Tong Chemical specializes in the production and export of herbicides, fungicides, insecticides, and public health products. The company holds over 1,000 registrations across markets including Brazil, India, and Vietnam. Since becoming a subsidiary of Yongtai Technology in 2015, E-Tong has expanded its operations to include intermediates and formulations. Yongtai Technology, established in 1999, operates in the pharmaceuticals, pesticides, and advanced materials sectors, with over 3,000 employees worldwide.

The partnership will focus on identifying new

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

Company posted Revenue from Operations at Rs. 746.6 Crore in Q2 FY25.

Best Agrolife Limited, amongst India’s leading agrochemicals manufacturers, announced its unaudited financial results for the quarter and half year ended September 30th, 2024, in the Board meeting held on 18th October, 2024.

 Company’s Q2 FY25 Revenue from Operations declined by 8 per cent YoY to Rs. 746.6 crore in Q2 FY25 compared to Rs. 811.2 crore in Q2 FY24 due to lesser sprays on account of continuous rains and a strategic higher focus on branded sales. Branded sales contributed 65 per cent to the overall revenue as compared to 63 per cent in Q2FY24. Q2 FY25 EBITDA was at Rs. 147.1 crore compared to Rs. 144.1 crore in Q2 FY24. EBITDA margin stood at 19.7 per cent with an increase of 193 Bps on YoY basis, mainly on account of stability in raw material prices & higher sales of branded products. Company’s Q2 FY25 PAT stood at Rs. 94.7 crore compared to Rs. 94.9 crore in Q2 FY24. As on September 30, 2024, the Net Debt to equity has improved to 0.59 as compared to 0.90 as on 31st March 2024.

Commenting on the result and overall update on the Q2 FY25, Vimal Kumar, Managing Director, Best Agrolife Ltd. said, “We are pleased to announce that Best Agrolife Ltd. has delivered a strong performance in Q2 FY25, capitalising on favourable market conditions and executing our strategic shift toward branded sales. Our commitment to enhancing brand visibility and expanding our market presence has yielded positive results, contributing significantly to both top-line and bottom-line growth.”

During H1 FY25, we secured three key patents for our innovative formulations, reinforcing our leadership in the crop protection segment. Our branded products continued to perform exceptionally well across regions, driving overall revenue growth. As a result of these efforts, we saw a substantial improvement in profitability, with our margins expanding from 26 per cent to 34 per cent year-on-year.

Due to our effective working capital management, we have seen a significant improvement in cash flow from operating activities, rising from Rs 5 crores in H1FY24 to Rs 125 crores in H1FY25, reflecting our ongoing focus on optimizing financial performance.

A notable achievement has been the effective management of sales returns-a challenge we faced in the previous fiscal year. By optimizing our supply chain to better align with channel demand, we successfully reduced sales returns, which are expected to remain significantly lower than last year.

“Looking ahead, we are excited about our strong product pipeline for Q3 and Q4 FY25. In the upcoming quarter, we plan to launch our patented herbicide ‘Shot Down’ alongside a new insecticide. Additionally, two more cutting-edge insecticides are slated for release in Q4, further strengthening our product portfolio and market competitiveness. As we move forward, Best Agrolife remains committed to leveraging innovation, expanding brand presence, and maintaining financial discipline to drive sustainable growth in the coming quarters.”

Business Highlights

The Company was granted a patent for its novel ternary pesticide formulation that integrates Isoprothiolane, Pymetrozine, and Trifloxystrobin; as well as one for its fungicide formulation that combines Trifloxystrobin and Valifenalate.

Best Agrolife received a patent for innovative insecticide formulation ‘Nemagen’ that combines Chlorantraniliprole, Novaluron, and Emamectin Benzoate.

The Company received regulatory approval for Nemagen, an insecticide formulation called to target resistant pests causing major crop damage.

Company posted Revenue from Operations at Rs.

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

In Q4 FY24 Company’s Revenue from Operations declined by 46.68 per cent Y-o-Y to Rs. 135.39 crore compared to Rs 253.91 crore in Q4 FY23.

Best Agrolife Limited, amongst India’s leading agrochemicals manufacturers, announced its audited financial results for the quarter and financial year ended March 31st, 2024, in the Board meeting held on 24th May 2024.

Company’s Revenue from Operations declined by 46.68 per cent Y-o-Y to Rs. 135.39 crore in Q4 FY24 compared to Rs 253.91 crore in Q4 FY23, due to an unexpected seasonal failure, of Q3 and Q4 of FY24 as against normal seasonal conditions in same period last year, leading to lower-than-expected sales coupled with surge in sales returns. Q4 FY24 EBITDA (excluding Other Income) was a loss of Rs. 67.10 crore against a profit of Rs 7.14 crore in Q4 FY23. Q4 FY24 PAT stood at loss of Rs 72.49 crore against a loss of Rs 8.41 crore in Q4 FY23, caused by price erosion and our investments in brand building.

Company’s revenue from Operations grew by 7.31 per cent to Rs 1,873.32 crore in FY24 compared to Rs. 1,745.68 crore in FY23. This is mainly due to significant growth in branded sales as compared to the previous corresponding period. FY24 EBITDA (excluding Other Income) was at Rs. 225.59 crore against Rs. 313.66 crore in FY23, a decline of 28.08 per cent on Y-o-Y basis. This is mainly due to shift in business strategy from institutional sales to branded sales, which has resulted in higher employee costs and other expenses. The increase in employee costs is attributable to the strategic investment in manpower to expand the dealer network. Additionally, other expenses have increased due to incremental travel and marketing expenses. In FY24, company posted PAT of Rs. 106.27 crore.

Commenting on the result and overall update on the financial year 2023-2024, Vimal Kumar, Managing Director, Best Agrolife Ltd. said, “Despite the many challenges faced during the year, for the full year FY24, our revenue grew by 7 per cent on Y-o-Y basis. This growth was driven by our shift in business strategy from institutional sales to branded sales. This has resulted in the growth of our branded business by 85 per cent.  However, the EBITDA margins reduced to 12 per cent in FY24, mainly because of the stress on the gross margin due to pricing pressures in the market, primarily caused by oversupply from China. Combination of weather factors, our shift towards branded products, and an expanding distributor network led to higher trade inventory.

Additionally, employee costs have gone up due to a shift in business strategy. The planned increase in employee cost is a strategic investment to strengthen our sales distribution network. Also, other expenses have risen due to incremental marketing costs for focus on branded business.

Despite the high competition from imports, particularly pricing pressure from China and the challenges posed by the global economic climate, we have maintained good profit margins.

This year, our company achieved several significant operational milestones. We became a major partner in Kashmir Chemicals by acquiring a 99 per cent stake, increasing our formulation capacities. Our strategic acquisition of Sudarshan Farm Chemicals will allow us to leverage SFCL’s robust R&D capabilities, IP portfolio, and backward-integrated technical manufacturing expertise. These developments will be crucial in enhancing our manufacturing and innovation capabilities.

In Q4 FY24 Company’s Revenue from Operations

Agro chems – Chemicals, Agro chems – Pesticides, Agrotech, Company News, India, R&D

The product will be launched in the next kharif season under the brand name ‘Orisulam‘.

Best Agrolife Ltd., a leading agrochemical manufacturer in India, announces a groundbreaking achievement in the agricultural field. Its wholly owned subsidiary, Seedlings India Private Limited, has been granted a 20-year patent by the Indian Patent Office-Government of India for its innovative creation, the “SYNERGISTIC GRANULAR HERBICIDAL COMPOSITION FOR PADDY.” The company intends to introduce this one-shot herbicide in the upcoming Kharif season under the brand name “Orisulam”.

This patent follows Best Agrolife’s recent success in securing another 20-year patent for their innovative “Synergistic Pesticidal Composition”, which includes two insecticides and a fungicide and offers an integrated approach to address critical challenges in rice cultivation. In addition to these breakthrough patents, Best Agrolife also made a pivotal shift in the conventional supply chain dynamics by forging a strategic partnership with Syngenta, a global leader in agriculture, to market Pyroxosulfone 85% WG herbicide under the brand name “Movondo”.

Vimal Kumar, Managing Director of Best Agrolife Ltd, expressed his enthusiasm for this milestone, stating, “Weed management has always been a critical factor in optimizing rice crop yields. Successful weed control is essential for obtaining optimum rice yields. We are delighted to receive this patent. It underscores our commitment to innovation and sustainable agriculture. This patent will further strengthen our herbicide portfolio and enable us to serve our farming community better.”

“This powerful single-shot herbicidal composition will provide a comprehensive solution for paddy farmers. This unique blend will offer enhanced weed control, reduced environmental impact, and improved crop safety, thus helping to increase yields and farmer income,” he further added.

The newly patented herbicidal composition is a powerful and effective solution for addressing the challenges of Monocot and Dicot weeds in paddy crops. It offers a comprehensive strategy to combat weeds such as Echinochloa crusgalli, Echinochloa colonum, Ludwigia parviflora, Cyperus rotundus, Cyperus difformis, Cyperus iria, Fimbristylis miliacae, Monochoria vaginalis, Leptochloa chinensis, Panicum repens, Chenopodium album, Commelina benghalensis, and Eclipta alba.

The product will be launched in the

Agro chems – Chemicals, Company News, India

Its unique composition provides prophylactic, curative, and eradicative actions, effectively targeting a wide spectrum of crop diseases such as Sheath blight, Powdery Mildew, Scab, and Alternaria

Best Agrolife Limited (BAL), a leading player in the agrochemical industry, unveiled BAL’s latest breakthrough, the fungicide ‘Tricolor’, and facilitated an engaging platform for more than 600 dealers in Kurnool and 1250 dealers in Guntur. The occasion highlighted BAL’s commitment to sustainable agriculture and pioneering agrochemical solutions.

‘Tricolor’, the latest innovation from BAL, was introduced among dealers, with all the benefits and uses. Comprising a potent blend of Trifloxystrobin 10 per cent + Difenoconazole 12.5 per cent + Sulphur 3 per cent SC, this cutting-edge fungicide offers comprehensive disease control measures. Its unique composition provides prophylactic, curative, and eradicative actions, effectively targeting a wide spectrum of crop diseases such as Sheath blight, Powdery Mildew, Scab, and Alternaria. The synergistic integration of the three active ingredients ensures enhanced efficacy, contributing to healthier crops of Rice, Tomato, Grapes, Chilli, Wheat, Mango, and Apple. 

Vimal Kumar, Managing Director, Best Agrolife, speaking at the launch, expressed his enthusiasm for Tricolor and its potential impact on farmers and the agricultural community. He stated, “Tricolor will play a pivotal role in elevating agricultural productivity and fostering the well-being of the farming community, not only in Andhra Pradesh but across India. Tricolor is an exceptionally potent fungicide with its comprehensive approach and a blend of Trifloxystrobin, Difenoconazole, and Sulphur. It addresses the multifaceted challenges faced in cultivating key crops within the region, promising higher yields and healthier produce.”

SBVR Prasad, Executive Director, Best Agrolife, highlighted the company’s vision, stating, “We are committed to providing farmer-needed products and conducting crop pest surveys to deliver the most favourable and beneficial products. What sets us apart is our competitive pricing with multinational companies as we aim to reach every farmer across the country. We look forward to prioritising the needs of our farmers and ensuring their success.”

Its unique composition provides prophylactic, curative, and

Company News, India, People

Bala has been associated at the apex level with several reputed organisations such as Adama India Pvt. Ltd

Best Agrolife Ltd. (BAL) announced the appointment of Suradevara Bala Venkata Rama Prasad as its new Executive Director. The appointment came into effect on July 31, BAL said in a statement.

A business leader with an excellent track record across leading companies Bala has been associated at the apex level with several reputed organisations such as Adama India Pvt. Ltd. An Agri graduate from Kanpur University Bala comes with more than 40 years of substantial experience in the chemical industry. As a Founder member and Director of the Board of Adama India Pvt. Ltd. from 2009 to till date, he has delivered significant portfolio and organisational change as part of transforming it into a more focused, growth-driven and sustainable business.

Prior to joining Adama India Pvt. Ltd. in 2009, Bala worked for Nagarjuna Group (Fertilisers & Pesticides) for more than two decades (1986-2009). With his analytical and strategic mindset and his ability to turn challenges into great success, Bala took Nagarjuna Agrichem & Adama to new heights and turned them into high-revenue-earning companies.

“We are delighted to welcome Bala as our new Executive Director,” said Vimal Kumar, MD, BAL. “He is a dynamic, values-driven business leader with a diverse background of experience and an excellent track record of delivering outstanding results. He has exceptional strategic capabilities, proven operational effectiveness, and strong experience in both domestic and global markets. The Board looks forward to Bala realising the full potential of BAL as a winning business that delivers long-term growth and value for all its stakeholders.”

Bala, newly appointed ED of BAL said, “I am delighted to have been appointed to lead BAL. It is a great organization with a rapidly growing global footprint, a strong brand portfolio, a talented team, and an impressive reputation in the industry. I will be very focused on working with the BAL team to deliver a step-up in business performance.”

Bala has been associated at the apex

Agro chems – Chemicals, Company News, India

The company is also gearing up to launch its ambitious product Tricolor in July

Best Agrolife Ltd. recently received three more major registrations. BAL informed that the Central Insecticides Board & Registration Committee (CIBRC) had granted the registrations for Technical Indigenous manufacturing of Diclosulam technical 94 per cent minimum, Boscalid technical 96 per cent minimum and Dimethomorph technical 95.5 per cent minimum to one of its wholly owned subsidiary Best Crop Science Pvt. Ltd.

Diclosulam is a broadleaf herbicide that is used to control weeds in soybean and peanut crops, while Boscalid is a foliar fungicide against a broad range of fungal pathogens in a wide range of crops, including vegetables and other crops. It inhibits spore germination and germ tube elongation and is also effective in all other stages of fungal development. Dimethomorph is a systemic fungicide that protects potato, tomato and grape crops from fungi in the water mould family, such as root rot, crown rot, late blight and downy mildew.

“These registrations are crucial for our company and will enable us to serve the farming community better. Along with producing the technicals, we also have plans to develop their highly sought-after formulation products, which will expand our product line further and help us maintain the goal of 30 per cent growth and 20 per cent EBITDA margin,” said Vimal Kumar, MD of BAL.

“For example, Metiram 44 per cent + Dimethomorph 9 per cent WG and Dimethomorph 12 per cent + Pyraclostrobin 6.7 per cent WG are the major formulations of Dimethomorph whereas Boscalid 25.25 + Pyraclostrobin 12.8 per cent WG is the prime Boscalid formulation. Since approvals for Metiram and Pyraclostrobin technicals are already in place with the company, we can now develop these products in-house in both technical and formulations segments,” Vimal Kumar added.

It is significant to mention that BAL recently became the first Indian agrochemical company to manufacture both AI and formulations of Pyroxasulfone after getting the CIB registration for the domestic manufacturing of Pyroxasulfone 85 per cent WG. The company is also set to launch their much-awaited fungicide Tricolor, a combination product of Trifloxystrobin 10 per cent + Difenoconazole 12.5 per cent + Sulphur 3 per cent Sc. It effectively controls several crop diseases like Sheath blight, Powdery Mildew, Scab, and Alternaria in Rice, Tomato, Grapes, Chilli, Wheat, Mango, and Apple.

The company is also gearing up to

Agro chems – Chemicals, Agrotech, Company News, India

The market for Pyroxasulfone is more than 450 crore; BAL will introduce the Pyroxasulfone products in October this year

Best Agrolife Ltd. (BAL), stated that it has been granted registration for the domestic production of Pyroxasulfone 85 per cent WG and three other key technicals. In its 447th meeting, the Central Insecticides Board & Registration Committee (CIBRC) authorised one of BAL’s fully owned subsidiaries, Seedlings India Pvt Ltd, to manufacture Pyroxasulfone 85 per cent WG domestically by section 9(3) FIM vs. FIT.

“This is a significant advancement for us. In addition to our proud innovation Ronfen, we launched several 9(3) and generic products in FY23, and we have similar intentions for FY24. With this new registration in hand, BAL has become the first and only agrochemical firm in India to produce both AI and formulations of Pyroxasulfone. We already hold the registration for the manufacturing of Pyroxasulfone technical. We will launch this product in October of this year as we have both product registrations. For the same, we have also applied for a special process patent, which we will receive soon. We have already submitted registration applications in other countries since we intend to manufacture this product for both national and international markets,” said Vimal Kumar, MD, Best Agrolife Ltd. 

Pyroxasulfone is a pre-emergence herbicide for wheat, corn and soybean that ensures increased yields while offering outstanding crop safety by eliminating weeds that pose a threat to these crops. It works by preventing plants from synthesising, particularly long-chain fatty acids. It is more effective against broadleaf weeds and requires fewer applications than other commercial herbicides. The primary troublesome weed in wheat, Phalaris minor, is controlled by Pyroxasulfone 85 per cent WG. 

“The market for Pyroxasulfone is already worth over 450 crores, and demand will only increase in the years to come. We are confident in our ability to successfully penetrate the 150 cr Pyroxasulfone market in the first year after introduction, and we want to steadily expand it in the following year. In total, we are planning to achieve 300-350 cr of the Proxysulfone market in the following three years. Pyroxasulfone was previously imported by India from other countries. But now, as part of the Indian government’s ‘Make in India’ drive, it will be locally produced and readily available to farmers. They will benefit greatly from this because they will receive a superior product at a lower cost,” said Vimal Kumar. 
It is worth mentioning that, BAL has recently received the registration for the indigenous manufacturing of the combination product Trifloxystrobin 10 per cent + Difenoconazole 12.5 per cent + Sulphur 3 per cent Sc under section 9 (3) FIM. This combination effectively controls several crop diseases like Sheath blight, Powdery Mildew, Scab, and Alternaria in Rice, Tomato, Grapes, Chilli, Wheat, Mango, and Apple. BAL is all set to launch this product in July with the brand name Tricolor. 

The market for Pyroxasulfone is more than

Agro chems – Chemicals, Company News, India

Change to take effect from 21 December 2022

BAL has moved to Group A from Group B of companies on BSE. The change will take effect from 21 December 2022. The company was already making bullish growth and now with this new development, it has garnered a lot of curiosity and interest from investors. 

As a research-based organisation, BAL is serving the farming community by bringing in world-class and cost-effective farm solutions in the form of novel agrochemical formulations. The company has presence across insecticides, fungicides, herbicides, and plant growth regulators. It is known for indigenously developing and marketing world-class and cost-effective farm solutions in the form of novel agrochemical formulations. Currently, BAL has 7,000 MTPA and 30,000 MTPA technicals and formulation manufacturing capacity respectively through three of its manufacturing plants in Gajaraula, Greater Noida, and Jammu & Kashmir. The company has fast expanded its distribution network and product portfolio in niche segments and got listed itself among the top 15 agrochemical companies in India. Currently, it boasts to have more than 5200 distributors in India and it retains an unrivaled portfolio of 360+ formulations and more than 80 technical manufacturing licenses. 

Focused on its First-to-Market strategy, BAL has transformed its business model from being a generic player to a predominantly branded player now. The company is focused on manufacturing and launching import substitutes of many active ingredients indigenously and introducing 2-3 patented/specialty formulation products every year. This year, BAL launched several new products that strengthened its financials significantly. The company introduced three new research-based products in the insecticide space namely Axeman, Ronfen (patented ternary insecticide), and reveal, one new herbicide with the brand name Tombo and one new insecticide combination Warden. With the launch of Citigen and Vistara, BAL became the first Indian agrochemical company to manufacture CTPR (market size of more than Rs 2800 crore) technical indigenously. The company also got the patent for the indigenous manufacturing of an in-house developed ternary herbicide which the company plans to launch in near future with the brand name ‘Shot Down’. Other than the above products BAL has been granted the patent for the first-of-its-kind fungicidal composition of Cyazofamid, Dimethomorph, and Difenoconazole (Market Size Rs 350 crore) and registration for the indigenous manufacturing of Pyroxasulfone technical (Market Size Rs 450 Crore).

The tremendous success of these newly launched products led to solid performance in Q2 FY23 and H1 FY23. The company posted a multi-fold jump in its consolidated revenue at Rs 700.3 crore jumping 115.9 percent on YoY basis and 51 percent QoQ basis. The EBITDA stood at Rs 182.5 crore, displaying 418.1 percent YoY growth and 176.9 percent QoQ growth. PAT stood at 129.82 crores a growth of 415.4 percent on YoY basis and 223.4 percent on QoQ basis. The company reported a 74 percent YoY rise in revenue to Rs 1164 crore, EBITDA margin expanded by 1078 bps YOY to 21.4 percent (vs 10.6 percent in H1FY22) and PAT rose by 233 percent YoY to Rs 169.9 crore in H1 FY23. The company has many more such products in the pipeline this year, further accelerating its growth. 

While CARE Ratings Limited assigned a ‘CARE A-’ rating to the long-term bank facilities of the company with a stable outlook in October 2022 the total stake of the promoter and promoter group BAL increased from 47.30 percent to 48.19 percent when Vimal Kumar, the Founder of Best Agrolife Limited, purchased a total of 65000 equity shares on 28 November 2022. In fact, Vimal Kumar bought 1,47,481 equity shares in the company on 15 November 2022, making it a purchase of a total of 212481 equity shares during November itself.
 

Change to take effect from 21 December