Best Agro Plans to Grow its Market Share by 20% and Invest in Improving its Manufacturing Capabilities

Best Agrolife Ltd., a prominent agrochemicals manufacturer in India, has set a medium to a long-term objective to acquire a market share of 15-20%. In addition, the company is strengthening its manufacturing capabilities by investing in 'brown field' and 'green field' capital expenditure plans. 

The company aims to achieve revenue growth of 25-30% by expanding its Formulation Business and B2C segment. This expansion will help maintain a steady delivery of healthy EBITDA and provide a better return on equity. Furthermore, the company plans to establish a presence in foreign markets during the next financial year, using selective offerings to replicate its success in the domestic market and maintain sustainable and profitable margins.

“Best Agro is working proactively to maintain its leadership position. The investment plans aim to build the company’s manufacturing capabilities, create backward integration in its manufacturing process, and improvise gross margin and working capital management. Along with investments, we believe that schemes such as ‘Make in India’, and production-linked incentives (PLI) will boost domestic production, leading to the sectors and the company’s growth. We are also expanding our footholds in the overseas markets,” says Vimal Alawadhi, MD, Best Agrolife Ltd.

The company holds a positive outlook toward the potential long-term advantages that can be gained by streamlining the export registration process, decreasing trade impediments, and placing greater emphasis on bilateral trade agreements to boost revenue through exports.

-NewsVoir

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