Best Agrolife's promoters acquire 3,21,000 equity shares
The promoter’s share capital in the company has now gone up by 1.36 per cent
Image credit: Best Agrolife Limited
Best Agrolife's promoters have recently acquired 3,21,000 equity shares in the company. The promoter’s share capital in the company has now gone up by 1.36 per cent. On the other hand, Brickwork Ratings (BWR) has assigned A - long-term ratings to Best Agrolife. The company has stepped up by two points in the BWR for its strong business profile, exceptional improvement in the credit/financial risk profile and commendable financial performance in FY21 and H1FY22.
Best Agrolife showed sequential improvement and reported a PAT of Rs 50.73 crore for the first half-year ending September (H1 FY22) during COVID-19. The company’s revenue in H1 FY22 increased by nearly 4.43 per cent versus H1FY21 to Rs 668.95 crore. Robust revenue growth helped the company swing to profit at the EBITDA of Rs 71.29 crore.
Moving forward with their plan to expand, the company has now acquired Best Crop Science. Though Best Crop Science used to focus on selling formulated products in the past it will now specifically focus on the research, production, and sales of patent products.