The total stake of the promoter and promoter group of the fastest growing agrochemical company, Best Agrolife Limited (BAL) has increased from 47.30 percent to 48.19 percent.
The development took place after Vimal Kumar, the founder of BAL, made a whopping purchase of a total 65,000 equity shares on November 28, 2022. In fact, the recent acquisition by the founder was not their only acquisition of BAL shares this month. Vimal Kumar had bought 1,47,481 equity shares in the company on November 15, 2022 as well making it a purchase of total 2,12,481 equity shares during the month of November itself.
It is relevant to note that BAL had reported the highest ever quarterly revenue this year as its quarterly consolidated revenue jumped 115.9 percent YoY at Rs 700.3 crore for Q2FY23. On the other hand, one of its subsidiary companies, Best Crop Science, had received an A- long-term rating from India’s top credit rating agency CARE Ratings earlier this year.
Off late, the company has been moving ahead aggressively as far as crucial registrations and patents are concerned. Seedlings India Ltd , a wholly-owned subsidiary company of BAL, has recently received a patent valid for 20 years for the first-of-its-kind fungicidal composition of Cyazofamid, Dimethomorph, and Difenoconazole which is going to emerge as a highly effective crop solution against Late Blight and Downy Mildew in tomato and grapes crops respectively.
Best Agrolife Limited is listed among the top 15 agrochemical companies in India. It is a research-based organization serving the farmer community across the globe by offering world-class and cost-effective agrochemical formulations.
The company retains an portfolio of 360+ formulations and over 80 technical manufacturing licenses.
First Published: Nov 29, 2022 10:17 AM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election Phase 2: Experts decode the key trends and issues in key battleground states
Apr 26, 2024 11:53 PM
2024 Lok Sabha Election | Which way the wind blows in the second phase
Apr 26, 2024 6:09 PM