Thu, 19 May 2022

New Delhi [India], January 26 (ANI/NewsVoir): Delhi-based agro-inputs major, Best Agrolife Ltd. announced its financial results for Q3FY22 on 25 January 2022 in their Board of Directors meeting.

Commenting on the results, Managing Director of Best Agrolife Ltd., 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 Ltd. 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 specialty products.""In quarter 4 small but strategic entry in the international business will also open up a new profitable vertical for BAL's robust growth in the near future," Vimal Alawadhi added further.

Consolidated Key Highlights - YTDThe company recorded consolidated revenue of Rs. 901.4 Cr. for the period ended on 31 December 2021, a growth of 29% over PY of Rs. 697.3 Cr. Profit before tax was at Rs. 91.3 Cr., with a growth of 466% over PY of Rs. 16.1 Cr. and the profit after tax was Rs. 66.6 Cr., registering a growth of 464% over PY of Rs. 11.8 Cr. EBITDA was at Rs. 103.7 Cr. (11.5%) with a growth of 628% over PY of Rs. 14.2 Cr (2%).

Consolidated Key Highlights-Q3The company recorded consolidated revenue of Rs. 232.5 Cr. for the quarter ended 31 December, 2021, a growth of 310% over PY of Rs. 56.8 Cr. Profit before tax was at Rs. 23.4 Cr., with a growth of 556% over PY of Rs. 3.6 Cr. and profit after tax was Rs. 15.5 Cr. registering a growth of 465% over PY of Rs. 2.7 Cr. EBITDA was at Rs. 32.4 Cr. (13.9%) with a growth of 519% over PY of Rs. 5.2 Cr. (9.2%).

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, JammuKashmir.

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.

Above all, it has its own state of art formulation ResearchDevelopment facility to support the development of new products niche formulations including herbicides.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

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