Financials
Q1 FY24 revenue jumps 32 per cent YoY to Rs. 612 Cr., EBITDA reported at Rs 130 Cr
Mumbai: Best Agrolife Ltd. (BAL) (BSE: 539660) has reported financial results for the Quarter ended 30 June 2023.
Key Results Highlights (FY23 Consolidated):
. Revenue from operations for Q1 FY24 stood at Rs 612 cr which grew by 141 per cent QoQ and 32 per cent on YoY basis compared to Rs 254 cr in Q4FY23 and Rs 464 cr in Q1FY23
. Gross margin for the quarter is at 30 per cent as compared to 19 per cent in Q4FY23 and 21 per cent in Q1FY23 which was an expansion of 1100bps QoQ and expansion of 900bps YoY.
. EBITDA for the quarter came at Rs 130 cr up 1720 per cent QoQ and 97 per cent.YoY compared to seven crores in Q4FY23 and Rs. 66 cr in Q1FY23. The improvement in EBITDA was driven by better product mix during Q1 FY24
. EBITDA margin for the quarter came at 21 per cent as compared to three per cent in Q4FY23 and 14 per cent in Q1FY23 which was an expansion of 1800bps QoQ and expansion of 700 bps YoY.
. PAT for the quarter was at Rs 90 cr, up 1168 per cent QoQ and 124 per cent YoY compared to Rs eight crores in Q4FY23 and Rs. 40 cr in Q1FY23.
. PAT margin for the quarter came at 15 per cent as compared to three per cent in Q4FY23 and nine per cent in Q1FY23 which was an expansion of 1800 bps QoQ and expansion of 600 bps YoY.
Key Business highlights for Q1 FY24:
Products Launched during Q1 FY24:
. BAL launched two herbicide products during the quarter, Propiquazafop and Ametryn under the brand name Propique and Amito respectively
Harnessing Clean Energy
. Best Crop Science Pvt. Ltd.(BCS), a wholly owned subsidiary of BAL, has entered a PPA and SHA for the supply of 3MW solar energy from a plant in UP which will be used to power the manufacturing unit in Gajraula. With this, BAL anticipates 33 per cent per unit of electricity cost savings while achieving a reduction of over 4,000 tonnes in carbon emissions.
Approvals and Registration received:
. BAL is the First Indian Agrochemical Manufacturer that has been granted registration for indigenous manufacturing of the product Trifloxystrobin 10 per cent + Difenoconazole 12.5 per cent + Sulphur three per cent Sc under section 9 (3) FIM. This will be a patented product under the brand name Tricolor. This combination effectively controls Sheath Blight, Powdery Mildew, Scab and Alternaria in Rice, Grapes, Tomato, Chili, Wheat, Mango and Apple.
. Best Crop Science has been granted the registrations for Technical Indigenous manufacturing of Diclosulam technical 94 per cent minimum, Boscalid technical 96 per cent minimum and Dimethomorph technical 95.5 per cent minimum from Central Insecticides Board & Registration Committee (CIBRC). Diclosulam is a broadleaf herbicide used to control weeds in Soyabean and Peanut crops. Boscalid is a foliar fungicide against a broad range of fungal pathogens in a wide range of crops, including vegetables and other crops. Dimethomorph is a systemic fungicide that protects Potato, Tomato and Grape crops from fungi in the water mould family, such as root rot, crown rot, late blight and downy mildew.
. Seedlings India, BAL’s fully owned subsidiary has been granted registration to manufacture Pyroxasulfone 85 per cent WG domestically in accordance with section 9(3) FIM vs FIT. This is a herbicide for Wheat, Corn and Soyabean. Pyroxasulfone market is worth over Rs 450 cr and BAL is confident in reaching Rs 125 Cr penetration in the first year after introduction.
Capex Update:
. Brownfield expansion with a Capex plan of Rs 200 cr in technical manufacturing unit Best Crop Science Private Limited (a wholly owned subsidiary of the Company) and market footprint expansion is making good progress.
Product Pipeline for FY24:
. BAL has a pipeline of eight+ products to be launched during the course of FY24 which includes a couple of patented products as well as some niche combination products and technicals.
Commenting on results, Best Agrolife Ltd. managing director Vimal Kumar said, “I am delighted to share that Best Agrolife has achieved remarkable growth momentum, with revenue from operations growing by 32% Y-o-Y to Rs. 612 Cr, despite the headwinds that the agrochemicals industry has been facing. Our herbicide portfolio products including Amito, Propique, Tombo, Ronfen and Warden have been the driving force behind this quarter’s growth. Additionally, our EBITDA margins of 21% can be attributed to the increasing contribution of speciality, niche, and patented products to our overall revenue.
This quarter’s performance also reinforces the widespread acceptance of our products and Best Agrolife’s strong brand presence in the Indian agrochemical market. Focusing on FY24, we have already launched a couple of technicals in Q1, which are seeing promising traction, with plans to introduce one patented product in Q2. Our pipeline for technicals and niche formulations is geared up for launch over the next few quarters.
While the agrochemicals industry continues to face challenges, I firmly believe that our niche product basket will not only shield us from industry perils, but also drive robust growth in FY24. This gives us a reason to remain steadfast in our commitment to achieving a 30% growth target and maintaining 20% EBITDA margins for FY24.”
MUMBAI: It’s time to brief the markets: Page Industries is showing that even when regulations tighten, it can still keep its footing in the innerwear business. The Bengaluru-based apparel major has reported its financials for the quarter ended 31 December 2025, delivering a performance that remains steady and well put together.
The company’s top line showed plenty of elasticity this quarter. Revenue from operations stretched to Rs 1,38,675.71 lakhs, a healthy jump from the Rs 1,29,085.82 lakhs reported in the preceding quarter. Compared to the same period last year, which stood at Rs 1,31,305.10 lakhs, it’s clear the brand’s grip on the market isn’t loosening. Total income for the quarter, including other finance gains, reached a comfortable Rs 1,39,919.03 lakhs.
However, it wasn’t all smooth silk. The Government of India’s new unified Labour Codes, covering everything from wages to social security, officially kicked in on 21 November 2025. This regulatory shift forced Page Industries to account for a one-time “exceptional item” cost of Rs 3,500.42 lakhs to cover incremental employee benefits and related obligations. Despite this Rs 35-crore legislative snag, the underlying business remained robust. Profit before tax stood at Rs 25,625.35 lakhs after the exceptional hit, and without that one-off cost, the figure would have been a more muscular Rs 29,125.77 lakhs. Net profit for the quarter came in at Rs 18,953.64 lakhs.
Total expenses rose to Rs 1,10,793.26 lakhs, driven largely by raw material consumption of Rs 30,162.65 lakhs and employee benefits of Rs 23,310.66 lakhs. Even so, the company’s operational strength ensured the bottom line remained firmly stitched together.
For shareholders, the news is particularly “fitting.” The Board has declared a third interim dividend for 2025-26 of Rs 125 per equity share. The record date has been set for 11 February 2026, with the payment scheduled on or before 6 March 2026. This follows two previous interim dividends of Rs 150 and Rs 125 declared earlier in the financial year, reinforcing the company’s commitment to sharing the spoils of its success.
Looking at the nine-month stretch ending December 2025, Page Industries has amassed total income of Rs 4,04,090.59 lakhs, with total comprehensive income of Rs 58,231.49 lakhs. While the basic earnings per share for the quarter dipped slightly to Rs 169.93, compared to Rs 183.48 in the same quarter last year, the year-to-date EPS remains a solid Rs 524.57.
Auditors at S.R. Batliboi & Associates LLP have given the results a “limited review” thumbs up, reporting no material misstatements. It seems that, as far as Page Industries is concerned, the business remains as well-constructed as its famous Jockey briefs.
