Best Agrolife Ltd reports strong results for FY 2021-22; net profit grow more than 2.82 times

Best Agrolife Ltd (BSE: BESTAGRO & BSE 539660), the leading provider of sustainable agriculture products and solutions in India and abroad, declared its financial results for Q4FY22 on Monday 23 May 2022 in its Board of Directors meeting. The fastest-growing agrochemical company in India has reported robust financial results for the fourth quarter ended March 31, 2022 and for the full financial year 2021-22.

Commenting on the results, Managing Director of Best Agrolife Ltd (BAL), Mr Vimal Alawadhi said, “FY 2021-22 proved to be a year with ‘Midas Touch’ for us as all our efforts turned into success stories. Our performance this year, boosts our confidence and confirms that we are on track to achieve our strategic and financial objectives. Other than grabbing the registration for the indigenous manufacturing of a number of crucial technicals and pesticides we also bagged two major patents namely Ronfen and Shot Down. We registered remarkable income growth this year, and we closed it with good business momentum. We also started operations in our subsidiary Seedlings India Pvt Ltd plant and our acquired J&K-based unit Agrico which will definitely push the formulation segment and increase the brand business significantly. Overall, the company is in a strong position to utilize the future opportunities and is looking forward to explore the markets outside India in order to expand our global footprints. ”

“The company expects this trend to continue in FY2023. Our R&D team is coming up with a number of innovative and niche chemistry-led products in the coming year thus creating an extremely strong pipeline of business. Our newly launched high-precision products namely Ronfen, Warden, Reveal, Tombo, and Axeman will not only act as real differentiators from conventional crop solutions for farmers but create value for all our stakeholders by increasing the revenue significantly. With our focus on niche products, we are targeting a growth of around 30% and an EBITA of more than 20% in the coming year,”Mr Vimal Alawadhi added further.

Consolidated Key Highlights- FY 22

• The company recorded revenue of ₹ 1210.79 Crores in  FY22, a growth of 33.7%  as against ₹ 905.45 Crores in  FY21

• EBITDA at ₹ 165.81 Crores grew significantly by 224% as against ₹ 51.18 Crores in  FY21; EBITDA margin for FY22 was at 13.69% with respect to 5.65 % in FY21

• Profit Before Tax was at ₹ 140.66 Crores, a growth of 177% YoY over ₹50.79 Crores reported in the previous year FY 21

• Profit After Tax also registered a robust growth of 182.6% YoY at ₹104.76 Crores in comparison to ₹ 37.08 Crores reported in FY21

Consolidated Key Highlights-Q4 FY 22

• The company recorded revenue of ₹ 309.35 Crores for the quarter ended 31 March 2022, a growth of 48.6 % YoY as against ₹ 208.13 Crores in Q4 FY21

• EBITDA at ₹ 62.1 Crores grew significantly by 68.1% YoY as against ₹ 36.95 Crores in Q4 FY21; EBITDA margin for the quarter was at 20.07%

• Profit Before Tax was at ₹ 49.33 Crores, a growth of 42.4 % YoY over ₹34.65 Crores reported in the corresponding quarter previous year

• Profit After Tax also registered a robust growth of 51 % YoY at ₹ 38.16 Crores in comparison to ₹ 25.28 Crores reported in Q4 FY21
  

On the basis of its financial results, the company has proposed to pay a dividend of  20% per share to its shareholders for 2021-22.
 
About Best Agrolife Ltd

Listed among the top 15 agrochemical companies in India, BAL has more than 84 products, 80+ technical manufacturing licenses, above 360+ formulation licenses, 30,000+ MPTA manufacturing formulation capacity, and 7000+ MTPA integrated state-of-the-art technical plants. As a research-based organization, BAL is known for bringing in world-class but cost-effective one-shot farm solutions in the form of novel agrochemical formulations.