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Best Agrolife aims Rs. 1517 Cr plus turnover by FY22

Best Agrolife is preparing to increase its formulation plant capacity to 50,000 MTPA. With regards to pan-India supply chain network, the plan is to increase the distribution network to over 2,000 dealers and over 25 depots

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Best Agrolife, a leading global player in agrochemicals sector and one of India’s largest manufacturers of agro-inputs, is aiming to achieve Rs. 1517 crore turnover by FY2022 along with net profit of over Rs. 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. In addition, there has a been noteworthy FIIs acquisitions recently lead by leading names like Resonance Opportunities Fund, Elara Opportunities Fund, Nomura Singapore, ODI and more.
 
Towards capital allocation, the company is now focusing on enabling free cash flow generation. Under this, the company aims to offer consistent dividend payouts to its shareholders. With regards to earnings, Vinod Kumar, Director, Best Agrolife 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.” In terms of ROCE and 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.

“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,” Kumar added. In addition, towards R&D activities, the company is planning 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,” he further added.

Best Agrolife is preparing to increase its formulation plant capacity to 50,000 MTPA. With regards to pan-India supply chain network, the plan is to increase the distribution network to over 2000 dealers and over 25 depots. Considering international footprints, Best Agrolife is in process of obtaining licences for Vietnam, Myanmar, United Kingdom and USA. Adding to Kumar said, “This entire drive will be backed by value added innovative products as we are planning to increase share of value added products in our product basket.”

Commenting on company roadmap, Kumar said, “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 agrochemicals industry both in terms of turnover and margins.”

Best Agrolife has progressed notably and is now considered as one of the 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 and plant growth regulators. It sells under the brand name “Best”. The company has four strategically located manufacturing plants, two in Uttar Pradesh and two in J&K. These plants are well equipped with state-of-the-art indigenous infrastructure for the production of high quality agrochemicals.

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