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Best Agrolife Ltd share Price Today

Company details

593.55
604.90
490.85
1,214.40
6M Return 0.00%
1Y Return -42.96%
Mkt Cap.(Cr) 1,413.03
Volume 28,598
Div Yield 0.50%
OI
-
OI Chg %
-
Volume 28,598

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Agrochemicals company Best Agrolife announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Revenue from Operations declined by 46.68% YoY to Rs 135.39 crore in Q4FY24 compared to Rs 253.91 crore in Q4FY23, due to an unexpected seasonal failure, of Q3 and Q4 of FY24 as against normal seasonal conditions in same period last year, leading to lower-than-expected sales coupled with surge in sales returns
  • Q4FY24 EBITDA (excluding Other Income) was a loss of Rs 67.10 crore against a profit of Rs 7.14 crore in Q4FY23
  • Q4FY24 PAT stood at loss of Rs 72.49 crore against a loss of Rs 8.41 crore in Q4FY23, caused by price erosion and our investments in brand building

FY24 Financial Highlights:

  • Revenue from Operations grew by 7.31% to Rs 1,873.32 crore in FY24 compared to Rs 1,745.68 crore in FY23. This is mainly due to significant growth in branded sales as compared to the previous corresponding period
  • FY24 EBITDA (excluding Other Income) was at Rs 225.59 crore against Rs 313.66 crore in FY23, a decline of 28.08% on YoY basis. This is mainly due to shift in business strategy from institutional sales to branded sales, which has resulted in higher employee costs and other expenses. The increase in employee costs is attributable to the strategic investment in manpower to expand the dealer network. Additionally, other expenses have increased due to incremental travel and marketing expenses
  • FY24 PAT stood at Rs 106.27 crore.
  • The Board recommended a final Dividend, subject to approval of shareholders, of Rs 3 (30%) per equity of face value Rs 10

Commenting on the result and overall update on the financial year 2023-2024, Vimal Kumar, Managing Director, Best Agrolife Ltd. said, “Despite the many challenges faced during the year, for the full year FY24, our revenue grew by 7% on YoY basis. This growth was driven by our shift in business strategy from institutional sales to branded sales. This has resulted in the growth of our branded business by 85%. However, the EBITDA margins reduced to 12% in FY24, mainly because of the stress on the gross margin due to pricing pressures in the market, primarily caused by oversupply from China. Combination of weather factors, our shift towards branded products, and an expanding distributor network led to higher trade inventory.

Additionally, employee costs have gone up due to a shift in business strategy. The planned increase in employee cost is a strategic investment to strengthen our sales distribution network. Also, other expenses have risen due to incremental marketing costs for focus on branded business.

Despite the high competition from imports, particularly pricing pressure from China and the challenges posed by the global economic climate, we have maintained good profit margins.

This year, our company achieved several significant operational milestones. We became a major partner in Kashmir Chemicals by acquiring a 99% stake, increasing our formulation capacities. Our strategic acquisition of Sudarshan Farm Chemicals will allow us to leverage SFCL’s robust R&D capabilities, IP portfolio, and backward-integrated technical manufacturing expertise. These developments will be crucial in enhancing our manufacturing and innovation capabilities.

The company continues to build upon a strong registration portfolio having garnered 94 registrations for newer technicals and formulations in FY’24. We have established a strong foundation for accelerated growth by securing patents for newer groundbreaking products. In FY’24 we launched multiple products, including our patented formulation “Tricolor”. Our past investments in research will see us launching multiple patented products such as “Warden Extra”, “Defender”, “Orisulam” and potentially “Shot Down” in FY’25. The new additions to our patent portfolio will see us reaping the fruits of our investments in FY’25 and beyond.

We continue to strategically expand our R&D capabilities with potential yieldsin the upcoming years. We are committed to developing safer and newer chemistries that are beneficial for the farmer and the environment. With a robust pipeline of new innovative and patented products coupled with an increased market presence, we are well-positioned to capitalize on emerging opportunities and drive value for our shareholders.

We have entered the new fiscal year with an optimistic outlook with our focus on delivering value to the farmer through R&D.

I thank all our stakeholders for their continued support and faith in our company.”

Result PDF

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Best Agrolife Ltd shares SWOT Analysis

Strengths (2)

  • Book Value per share Improving for last 2 years
  • Company with Zero Promoter Pledge

Weakness (7)

  • Degrowth in Quarterly Revenue and Profit in Recent Results(YoY)
  • Declining Revenue every quarter for the past 2 quarters
  • Declining profits every quarter for the past 2 quarters

Opportunity (1)

  • RSI indicating price strength

Threats (1)

  • Increasing Trend in Non-Core Income

Resistance and support

R1 607.6
R2 619.2
R3 626.5
Pivot

600.38

S1 588.8
S2 581.5
S3 569.9
EMA SMA
574.7
585.9
638.0
753.8
565.9
597.4
605.8
795.4
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
VIMAL KUMAR Bulk Purchase 2022-11-15 1609.25 147481 NSE
RAVI CROP SCIENCE Bulk Purchase 2022-10-21 1518.91 200000 NSE
CHETAN RASIKLAL SHAH Bulk Purchase 2022-10-21 1458.22 143160 BSE
Name Category Shares
VANDANA ALAWADHI PROMOTER 27.04%
VIMAL KUMAR PROMOTER 20.58%
KAMAL KUMAR PROMOTER 1.56%
KAMAL KUMAR (HUF) PROMOTER 0.93%

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Best Agrolife Ltd Stocks COMPARISON

Financials( in Cr) Best Agrolife Ltd Adani Enterprises Ltd Aegis Logistics Ltd Cello World Ltd Redington Ltd
Price 597.60 3,261.75 816.65 874.20 216.53
% Change -0.18 1.15 -2.91 -0.42 -2.49
Mcap Cr 1,413.03 371,839.83 28,664.42 18,553.23 16,927.75
Revenue TTM Cr 1,745.68 96,420.98 8,627.21 1,796.70 79,376.78
Net Profit TTM Cr 192.15 3,294.63 510.70 285.07 1,439.39
PE TTM 13.26 105.75 50.36 56.00 13.92
1 Year Return -42.96 32.45 135.28 10.42 15.82
ROCE 34.62 8.94 17.08 45.20 25.43
ROE 45.65 9.14 17.88 134.44 22.65
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 527.34 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 32,317.57 -2,589.17
LAST 3M 111,725.82 -36,230.77
LAST 6M 182,653.52 -16,910.03
LAST 12M 290,144.87 98,834.05

Best Agrolife Ltd Information

Stock PE (TTM)
13.26
Promoter Holding
50.1%
Book Value
268.2333
ROCE
34.62%
ROE
45.65%
Description
  • Best Agrolife Limited (formerly known as Sahyog Multibase Limited) was incorporated as a Public Limited Company on 10 January 1992. The Company is a leading agrochemicals manufacturer and is among the top 15 agrochemicals companies. It is one of the fastest growing manufacturers of Technical, Formulations, Intermediates and Public Health products. The Company is recognized for its niche product category which promotes sustainable agriculture by delivering high quality, modern, innovative and cost-effective crop protection solutions to farmers across the globe. Presently, the Company is engaged in the business of trading of agro-based products. It offers more than 70 Formulations in the form of Insecticides, Herbicides, Fungicides and Plant Growth Regulators (PGRs), which are developed from active ingredients manufactured in-house. As part of its P2P set-up, it caters to several blue-chip corporates and leading MNCs from India and abroad. It has an R&D Center at Greater Noida unit for development of new Formulation molecules and has a fully operational pilot plant as well. The Company has three ISO-certified state-of-the-art manufacturing facilities in Gajraula, Greater Noida and Jammu & Kashmir. It has NABL accredited R&D labs which are supported by pilot plants. These facilities help the Company in developing and delivering high-quality, cost-effective crop care solutions. Honorable National Company Law Tribunal (NCLT) via its Order dated 5 May 2020 approved the Scheme of Amalgamation of Best Agrochem Private Limited with the Company with effect from 01st April 2018 and Best Agrochem Private Limited was amalgamated into the Company accordingly. In FY 2020, the Company had launched DIRON, (DINOTEFURAN 20% SG). It also launched another Blasticide for Paddy, based on new chemistry and innovation - Pyraclostrobin 100 g/l CS with the brand name of `Param`. The Company has 2 subsidiaries as on March 31, 2022. The commercial production in the Greater Noida unit commenced in FY 2022. Through robust R&D and IP efforts, this unit was granted a patent for manufacturing RONFEN, a unique 3-way insecticidal combination set to revolutionize the agrochemicals space. During the year 2022, the Company launched Ronfen, a first-of-its-kind proprietary ternary insecticide, and four other new products, namely Axeman, Warden, Reveal, and Tombo. It was granted 2 patents for innovative product viz., "A Synergistic Insecticidal Composition Comprising of Bioactive Amount of Difenthiuron and Pyriproxyfen" and secondly, "A Synergistic Herbicidal Composition Comprising Imidazolinone, Sulfonylurea and Aryloxyphenoxy Propionate Herbicide". Apart from these, the Company received a number of registrations for indigenous manufacturing of technicals like Spiromesifen, Trifloxystrobin, Pyrithiobac Sodium, and Tembotrione.

Registered Address

S-1A Ground Floor Bhagwan Dass, Nagar East Punjabi Bagh, New Delhi, New Delhi, 110026

Email : info:bestagrolife.com
Website : http://www.bestagrolife.com
Registrar

Skyline Financial Services Pvt

AGM Date (Month) : Sep
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 539660
NSE Code : BESTAGRO
Book Closure Date (Month) : Sep
BSE Group : A
ISIN : INE052T01013

FAQ’s on Best Agrolife Ltd Shares

You can buy Best Agrolife Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Best Agrolife Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Jun 14, 2024 03:56 PM the closing price of Best Agrolife Ltd was Rs.597.60.

The latest PE ratio of Best Agrolife Ltd as of Jun 14, 2024 03:56 PM is 13.26

The latest PB ratio of Best Agrolife Ltd as of Jun 14, 2024 03:56 PM is 0.45

The 52-week high of Best Agrolife Ltd share price is Rs. 1,214.40 while the 52-week low is Rs. 490.85

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of Jun 14, 2024 03:56 PM, the market cap of Best Agrolife Ltd stood at Rs. 1,413.03.

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