Best Agrolife looking for over INR 1517 Cr turnover by FY22

MUMBAI, 10 August 2020: India’s one of the largest manufacturers of agro-inputs, Best Agrolife Ltd (BSE: 539660) is aiming to achieve INR 1517 crore turnover by FY2022 along with net profit of over INR 677 crore.

The company has in place in its long term financial priorities which has a three dimensional approach wherein the focus areas are - capital allocation, earning and growth.

With regards to earnings, Vinod Kumar, Director Best Agrolife Ltd. said, “We have defined our objectives clearly and the company will work towards achieving the same wherein the primary focus it to accomplish sustainable EPS growth. This will be supported by incremental earnings across economic cycles. Also, we are anticipating a significant increase in ROCE and ROE which will be driven by our various initiatives.”

n terms of return on capital employed (ROCE) and return on equity (ROE), the project targets are 32.78 percent and 24 percent respectively in FY22. Notably, as per projections, there is a significant increase in EPS (basic) to 30.44 and compared to 7.24 in FY20.

For the Growth - approach - the company is enabling models to deliver profitable organic growth. Increase in commitment towards Research and Development and creating strong push for its branded products.

Kumar said, “Planning a long term strategy and to avoid conflict of interest among business segments and as a good corporate governance measure the company has decided to integrate all its businesses in single entity in a phased manner.”

In addition, towards R&D activities, the company plans to introduce new value added chemistries and integrated R&D facilities in chemical zone in Gujarat. “The company plans to add new innovative speciality molecules and improve its product basket. These initiatives will increase the percentage of value added product offerings as well as enhance the overall margins.”

Best Agrolife is preparing to increase its Formulation plant capacity to 50000 MTPA. With regards to pan-India supply chain network, the plan is to increase the distribution network to 2000+ dealers and 25+ depots. Considering international footprints, Best Agrolife is in process of obtaining licences for Vietnam, Myanmar, United Kingdom and USA.

Adding to this, Kumar said, “This entire drive will be backed by value added innovative products as we are planning to increase share of value added branded products in our product basket.”

Commenting on company road map, Kumar stated, “We are working with a single point agenda to emerge as an icon for growth, technology and innovation and to become a significant player of Indian Agro-Chemical Industry both in terms of turnover and margins.”

Best Agrolife has progressed notably and is now considered as one of top 20 companies in India and its product portfolio comprises of more than 60 active ingredients and various formulations of pesticides and plant micro-nutrients for protecting and nourishing a wide range of crops. Its product range includes insecticides, herbicides, fungicides, plant growth regulators etc. It sells under the brand name Best.

The company has four strategically located manufacturing plants, two in Uttar Pradesh & two in J&K. These plants are well equipped with state-of-art indigenous infrastructure for the production of high quality agrochemicals.