Best Agrolife launches Tricolor (Trifloxystrobin + Difenoconazole + sulfur)

Best Agrolife Limited (BAL), one of the leading companies in the agrochemical industry in India, today announced that it has obtained a locally manufactured product registration of 10% Trifloxystrobin +12.5% Difenoconazole +3% Sulfur SC. BAL is the first agrochemical company to manufacture this type of formulation in India. At its 447th meeting, the Central Insecticides Board and Registration Board of India (CIBRC) granted a significant registration to Seedlings India Pvt Ltd, one of its wholly-owned subsidiaries.

BAL will launch in July a patented product called Tricolor, a novel combination of Trifloxystrobin and Difenoconazole, a broad-spectrum fungicide with preventive, therapeutic and eradication properties. Sulfur acts as a catalyst to increase the efficacy of the active ingredient by three times. This combination is effective against crop diseases. BAL has conducted several field demonstration tests for this product portfolio with impressive results. The company believes that like other specialty product portfolios, including Ronfen, a new patent portfolio that is driving growth in FY23, Tricolor will also revolutionize the Indian agriculture sector, further strengthening BAL's position in the crop protection space.

BAL Managing Director Vimal Kumar said the registration of the product was long awaited. Over the years, BAL has created a niche market in its own right by focusing on farmers. BAL has launched Propique and Amito, respectively, in the first quarter of FY24. All products will help BAL achieve its target of 30% growth and 20%EBITDA margin in the current fiscal year. BAL will increase the market share of these products every year to ensure higher earnings.

BAL reported strong annual results for the 2022-23 financial year, earning a respectable revenue of Rs 1,746 crore from operations, up 44% from FY22. The board recommended a dividend of 30 per cent (i.e. Rs 3 per share), 50 per cent higher than last year.