AgroPages-Bharat Group poised to achieve 20% revenue growth in FY17-Agricultural news

Bharat Group poised to achieve 20% revenue growth in FY17

Bharat Group incorporated in 1977 is among the Top 10 agrochemical companies in India build on strong foundation of manufacturing excellence, wide customer base, quality products and business ethics.

Last two years have been tough for Indian agrochemical industry due to deficit and uneven rainfall. In these testing times, Bharat Group was able to achieve 5% growth in turnover to Rs 10,888.5 million for FY16. Presence in all three verticals of business i.e. international business, domestic brand/institutional sales business and contract manufacturing business is the key which has helped Bharat Group to sustain this growth. Major factors which have contributed in the growth of the organization are:

Manufacturing excellence: Working on its core strength of two fully EHS compliant technical plants, Bharat has been able to achieve desired output at competitive cost and hence cater to both domestic and International demand in timely manner. Overall product manufacturing output increased in comparison to FY15.

Contract manufacturing business: Contract manufacturing business with various MNCs saw reasonable increase due to Bharat’s state-of-art and EHS compliant technical manufacturing plants.

Brand Business: Due to strong brand presence, tapping of nice markets, increase in product portfolio and increase in dealer/distributor network Bharat has registered very good growth in its Indian brand marketing business in FY16. Major growth came from southern part of India.

Institutional Sales Business: Addition of new molecules in FY16 and banking on rich product portfolio, Bharat has been able to increase its Institutional sales business both in B2B and P2P form. All molecules are manufactured at their state-of-art manufacturing facility at Dahej (Gujarat) and Mokhra (Haryana), India.

With good monsoon predictions, Bharat Group is poised to make significant increase in its brand sales business. Export business is bound to surge due to fresh registration approvals in focus markets and strategic long term contracts signed with MNCs recently apart from ongoing export business. Also due to addition of new innovative and productivity enhancement molecules at manufacturing plants, all three verticals of business will see good growth in coming future.

Overall Bharat Group is poised to achieve more than 20% growth in turnover for FY17.