Best Agrolife added 1.44% to Rs 1475.45 after the company's wholly owned subsidiary Best Crop Science received registration for the indigenous manufacturing of Propaquizafop technical and Cyhalofop Butyl technical.
The registration was granted by the Central Insecticides Board & Registration Committee at its 443rd meeting.
With this, Best Crop Science becomes the first company in India to manufacture Propaquizafop Technical and Cyhalofop Butyl technical.
Propaquizafop is herbicide used for the post-emergence control of a wide range of annual and perennial grasses in various broadleaf crops such as soybean, cotton, pulses, sunflower, other field crops, vegetables, fruit trees, vineyards, sugar beet, oilseed rape, and forestry.
Cyhalofop-butyl is a post-emergence, aryloxyphenoxypropionate (AOPP) herbicide, which is used in controlling weeds in rice plantations.
The company has also been granted license for the indigenous manufacturing of Clomazone technical, Thiacloprid technical, Halosulfuron Methyl technical, Mepiquat Chloride technical, Flonicamid technical, Ethiprole technical, Dodine technical, Metalaxyl-M technical and Metolachlor technical by the Central Insecticides Board & Registration Committee.
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Best Agrolife is engaged in the in the trading of agrochemical products such as insecticides, pesticides, herbicides, fungicides and plant nutrients. The company's crop protection chemical products are sold through distributors and co-marketing alliances with leading Indian companies throughout the country. It has almost 60 plus products, 80 plus technical licenses, 360 plus formulation licenses, 30,000 plus MTPA manufacturing formulation capacity and a 7000 plus MTPA integrated technical plant, one of the country's most comprehensive portfolios.
The company's consolidated net profit surged to Rs 129.81 crore in the quarter ended September 2022 from Rs 25.19 crore during the previous quarter ended September 2021. Sales increased to Rs 700.31 crore in Q2 FY23 from Rs 324.39 crore in Q2 FY22.
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