Chemical manufacturing company Best Agro, on Monday, said that its board has approved a capex plan worth Rs 200 crore.
Of Rs 200 crores, about Rs 150 crore will go towards Brownfield expansion in the technical manufacturing unit of Best Crop Science Private, a wholly owned subsidiary of the Best Agro, while Rs 50 crore will be provided towards brand building and market footprints expansion.
Best Agro, via an exchange filing said, “We wish to inform you that the Board of the Company have approved Capex plan of Rupees 200 crore (i.e. Rupees 150 crore towards Brownfield expansion in the technical manufacturing unit of Best Crop Science Private Limited (a wholly owned subsidiary of the Company) and Rupees 50 crore towards Brand Building and market footprints expansion.”
Last month, the agrochemical company’s arm got a patent for a Synergistic Herbicidal composition.
In January, Best Agro received license for manufacturing of Propaquizafop Tech Cyhalofop-butyl Tech. The Propaquizafop is herbicide used to control grasses in Broadleaf crops, while the Cyhalofop-butyl controls weeds in rice plantations.
Best Agro’s stock was trading Rs 1,110.60 a piece, down over 1.4 percent, at 1:58 pm.
(Edited by : Sangam Singh)
First Published: Mar 6, 2023 2:35 PM IST
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