Crystal Crop

Agrochemical firm Crystal Crop Protection on Monday said it has acquired Bengaluru-based I&B Seeds as it seeks to strengthen its position in India's vegetable and flower-seed segment. "The deal has been fully executed with shares purchased from two major shareholders. The share transfer was completed last week on the day of Diwali," Crystal Crop Protection Managing Director Ankur Aggarwal told PTI. While not disclosing the deal amount, Aggarwal said it is estimated at two-times I&B Seed's annual revenue of Rs 130 crore. The acquisition was funded through internal accruals and marks Crystal Crop's fifth purchase in the seeds business and twelfth overall. "This acquisition will contribute 30 per cent to our Rs 400 crore seed business," Aggarwal said, adding that the company will retain I&B Seeds' flagship brands 'Indus' and 'SPS'. India's flower and vegetable seed market is valued at over Rs 600 crore. The integration is expected to be completed within six months. "By ...

Agro-chemicals firm Crystal Crop Protection Ltd is expecting 15 per cent growth in its turnover this fiscal to around Rs 2,600 crore on better sales, its MD Ankur Aggarwal said. The Delhi-based company last week raised Rs 300 crore from IFC to fund its expansion and growth plans. "We will utilise the fund for future growth including capacity expansion of existing plants, and working capital requirements," he told PTI. Crystal Crop, which has seven manufacturing plants across various states, posted a turnover of Rs 2,283 crore during the previous financial year. "We are expecting the revenue to reach around Rs 2,600 crore this fiscal year," Aggarwal said, when asked about the outlook. The sales in rabi (winter sown) season are expected to be strong because of the late monsoon, he added. On acquisition of new brands, Aggarwal said the company keeps looking for suitable opportunities in regular course of business. To expand its business, Crystal Crop has made nine acquisitions to d

Agro-chemical firm Crystal Crop Protection Ltd on Wednesday said it has raised Rs 300 crore from IFC to fund its expansion and growth plans. International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. According to a statement, the "investment of Rs 300 crore (approx USD 37 million) by IFC and IFC Emerging Asia Fund (EAF)" will help Crystal Crop to boost farm productivity, reduce supply chain disruptions, and set up a robust infrastructure for sustainable production of crop protection products. The statement did not mention the dilution of stake by Crystal Crop for raising this equity fund from IFC. The project will increase farmers' access to customised, affordable, and environment-friendly crop protection products. The IFC Emerging Asia Fund, launched in 2016, makes equity and equity-like investments across all sectors in emerging markets in Asia alongside IFC. The ...

Bayer CropScience Ltd on Wednesday approved sale of its traded seeds business, along with property in Telangana, to Crystal Crop Protection Ltd for Rs 62 crore

The company has seven manufacturing plants in Gujarat, Maharashtra and Haryana

Chairman Nand Kishore Aggarwal expects turnover to increase to about Rs 1,500 crore during this financial year