Medium and long term goals for India's Best Agrolife: Increase market share by 20% and expand overseas

Best Agrolife Ltd (BAL), a leading agrochemical manufacturer in India, recently announced the company's medium to long term target of 15-20% market share. BAL will also increase its production capacity through "brown field" and "green field" capital projects.

BAL offers more than 70 insecticides, herbicides, fungicides and PGRs formulations, with 360+ formulations and over 91 active drug manufacturing licenses, making it one of the most comprehensive product portfolios in India. BAL will also increase its market share in the formulation business and B2C segment, seeking 25 to 30 percent revenue growth. This will also ensure the company's EBITDA performance and provide a better return on equity. In addition, BAL will expand its overseas markets in FY23-24 to replicate its success in India with selective products, ensuring sustainable and healthy margins in agriculture.

"BAL is actively working to maintain its leadership position with investment programs aimed at increasing production capacity, achieving backward integration in the manufacturing process, improving gross margins and working capital management," said Vimal Alawadhi, General Manager of BAL. Apart from investment, we believe programmes such as' Make in India 'and production-related incentives (PLI) will help the industry and companies grow by boosting production within India, while we are also expanding overseas markets, "he said.

BAL is also optimistic about the long-term benefits of simplifying export registration procedures, reducing trade barriers, strengthening bilateral trade agreements, and increasing income generation through exports.