Best Agrolife's consolidated net profit surged to Rs 129.82 crore in Q2 FY23 from Rs 25.19 crore in Q2 FY22, recording a growth of 415.4% on a YoY basis.
The company recorded revenue of Rs 700.3 crore, a growth of 115.9 % as against Rs 324.38 crore in Q2 FY22.
EBITDA grew significantly, by 418.1%, to Rs 182.5 crore in the second quarter from Rs 35.23 crore in Q2 FY22. EBITDA margin for the quarter was at 26.1% as against 10.9% in Q2 FY22.
The company's consolidated net profit zoomed 232.3% to Rs 169.9 crore on a 74% 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 we have many revolutionary products in the pipeline."
Best Agrolife is engaged in the manufacturing of agrochemical products. The company offers more than 70 formulations of insecticides, herbicides, fungicides, and plant growth regulators (PGRs) and retains one of the country's most comprehensive portfolios with 360+ formulations and more than 91 technical manufacturing licenses.
The scrip rose 0.83% to end at Rs 1524.10 on the BSE on Friday.
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