During the second quarter of FY23, Best Agrolife’s consolidated net profit surged to Rs 129.82 crore from Rs 25.19 crore in the second quarter of FY22, a 415.4 per cent yearly. The company recorded revenue of Rs 700.3 crore, a growth of 115.9 per cent against Rs 324.38 crore in the second quarter of FY22.

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EBITDA grew significantly, by 418.1 per cent, to Rs 182.5 crore in Q2FY23 from Rs 35.23 crore in the same period last year. EBITDA margin was at 26.1 per cent compared to 10.9 per cent in the second quarter of FY22.

On a consolidated basis, the net profit of Best Agrolife zoomed 232.3 per cent to Rs 169.9 crore on a 74 per cent rise in revenues to Rs 1,164 crore in H1 FY23 as compared with H1 FY22.

Vimal Alawadhi, managing director of Best Agrolife, commented on the results, “We are delighted with the stellar performance delivered in H1FY23. The highlight of this quarter was the tremendous success of our newly launched products – especially Ronfen, AxeMan, and Warden. Our plants have achieved higher capacity utilization and have many revolutionary products in the pipeline.”

This company is usually engaged in the manufacturing of agrochemical products. More than 70 formulations of insecticides, fungicides, plant growth regulators (PGRs) and herbicides which retains one of the country’s most comprehensive portfolios with more than 360 formulations and more than 91 technical manufacturing licenses.

On 21 October 2022, the scrip rose 0.83 per cent to end at Rs 1524.10 on the BSE. The stock has zoomed 57.33 per cent in the first quarter of FY23, while the benchmark Sensex has added 6.51 per cent in the first quarter of FY22.