Best Agrolife Ltd Announces 34.6% Rise in Consolidated Revenue in Q1 FY23

Best Agrolife Ltd, India’s fastest-growing agrochemical company has reported strong financial results for the first quarter ended 30th June, 2022. It posted a multi-fold jump in its consolidated revenue at Rs 463.7 Crores jumping 49.9% QoQ. The EBITDA stood at Rs 65.9 crores, displaying an 82.7% YoY growth and 6.1 % QoQ growth in the first quarter of the current fiscal, the company said in its statement.

Best Agrolife Ltd (BAL), is the leading manufacturer of agro-inputs in India. It declared its financial results for Q1FY23 on 05 August 2022 at the meeting of its Board of Directors.

Consolidated Key Highlights-Q1 FY23

• The company recorded revenue of Rs 463.7 Crores, a growth of 34.6% as against Rs 344.6 Crores in Q1 FY22. On a sequential basis, revenue grew by 49.9%.

• EBITDA at Rs 65.9 Crores grew significantly by 82.7% as against Rs 36.06 Crores in Q1 FY22; EBITDA margin for the quarter at 14.2% as against 10.5% in Q1 FY22

• PBT at Rs 53.4 Crores, a growth of 53.5 % Y-o-Y & 8.4% on a Q-o-Q basis

• PAT also registered a robust growth of 54.7% YoY at Rs 40.1 Crores in comparison to Rs 25.94 Crores reported in Q1 FY21

Commenting on the results, Vimal Alawadhi, Managing Director, BAL, said, “We are pleased to inform you that after closing FY2022 with strong results we have succeeded in maintaining our upward growth momentum in the first quarter of the current fiscal year as well.”

“Due to our futuristic vision, discipline, and carefully crafted strategy we improved on FY22 EBITDA margins despite inflationary pressures. During this quarter we launched many new revolutionary products including our patented product RONFEN.”

“The initial response has been good and we expect a pick-up in the next quarter. On the other hand, we are also focused on strengthening our team by bringing some extremely talented professionals like Pramod N Karlekar, the renowned technocrat in the chemical arena, on board which will surely prove to be fruitful for the organization in the long run.”