Best Agrolife Ltd

Best Agrolife Ltd

₹ 621 -1.90%
23 Apr - close price
About

Best Agrolife (formerly known as Sahyog Multibase Limited) [1] is a leading agrochemicals manufacturer in India and is among the top 15 agrochemicals companies in the country. It is one of the fastest growing manufacturers of Technicals, Formulations, Intermediates and Public Health products. Best Agrochem Private Limited was amalgamated with the Co. in April 2018.

It offers more than 70 Formulations in the form of Insecticides, Herbicides, Fungicides and Plant Growth Regulators, which are developed from active ingredients manufactured in-house. As part of its P2P set-up, Best Agrolife caters to several blue-chip corporates and leading MNCs from India and abroad. [2]

Key Points

Product Portfolio
The Co has three business activities namely, Technical, Formulation, and Branded Products. [1]
The product profile includes insecticides, pesticides, herbicides, plant-growth regulators (PGR) and biocides. As of Q2FY24, it has licence of 250+ formulations registered with Central Insecticide Board (CIB), PGRs and bio fertilizers. As of FY23, it has 60+ products, 80+ technical licenses, 360+ formulation licenses.Some of its best selling products are DIRON, PYMAX, PYDON, IRMA, etc. [2] It launched key products like RONFEN, AXEMAN, REVEAL, CITIGEN, and VISTARA. [3][4]

  • Market Cap 1,472 Cr.
  • Current Price 621
  • High / Low 1,374 / 454
  • Stock P/E 8.64
  • Book Value 298
  • Dividend Yield 0.48 %
  • ROCE 34.4 %
  • ROE 44.8 %
  • Face Value 10.0

Pros

Cons

  • Working capital days have increased from 106 days to 157 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Trading Industry: Trading

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
56.72 208.13 344.56 324.39 232.49 309.35 463.70 700.31 327.75 253.91 612.23 811.19 314.50
51.48 171.18 308.50 289.16 200.06 247.25 397.80 517.80 269.64 246.77 482.27 667.07 295.88
Operating Profit 5.24 36.95 36.06 35.23 32.43 62.10 65.90 182.51 58.11 7.14 129.96 144.12 18.62
OPM % 9.24% 17.75% 10.47% 10.86% 13.95% 20.07% 14.21% 26.06% 17.73% 2.81% 21.23% 17.77% 5.92%
0.64 0.64 0.82 0.33 -0.36 1.00 0.37 0.86 0.69 0.67 4.34 -2.84 0.68
Interest 1.55 1.83 1.19 1.56 5.18 7.17 7.06 9.46 9.77 12.56 12.38 15.23 19.34
Depreciation 0.76 1.11 0.86 0.90 3.47 6.60 5.76 5.77 5.98 6.99 7.33 8.22 6.35
Profit before tax 3.57 34.65 34.83 33.10 23.42 49.33 53.45 168.14 43.05 -11.74 114.59 117.83 -6.39
Tax % 23.53% 27.04% 25.52% 23.90% 33.90% 22.64% 24.92% 22.80% 28.87% 28.36% 21.01% 19.49% -3.44%
2.74 25.28 25.94 25.19 15.48 38.16 40.13 129.81 30.62 -8.41 90.50 94.87 -6.61
EPS in Rs 1.24 11.47 11.77 11.43 6.55 16.14 16.97 54.90 12.95 -3.56 38.27 40.12 -2.80
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2021 Mar 2022 Mar 2023 TTM
127 151 905 1,211 1,746 1,992
126 154 854 1,045 1,432 1,692
Operating Profit 1 -2 51 166 314 300
OPM % 0% -1% 6% 14% 18% 15%
1 4 7 2 3 3
Interest 1 2 5 15 39 60
Depreciation 0 0 3 12 24 29
Profit before tax 0 0 51 141 253 214
Tax % 575% 100% 27% 26% 24%
-0 0 37 105 192 170
EPS in Rs -0.65 0.03 16.83 44.31 81.27 72.03
Dividend Payout % 0% 798% 12% 5% 4%
Compounded Sales Growth
10 Years: %
5 Years: 63%
3 Years: %
TTM: 11%
Compounded Profit Growth
10 Years: %
5 Years: 157%
3 Years: %
TTM: -29%
Stock Price CAGR
10 Years: %
5 Years: 73%
3 Years: 15%
1 Year: -41%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 45%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 8 8 22 24 24 24
Reserves 46 48 108 306 504 682
0 19 33 270 568 595
63 35 209 384 380 1,007
Total Liabilities 117 110 372 984 1,475 2,307
0 0 19 180 203 220
CWIP 0 0 4 5 14 12
Investments 32 3 0 0 0 0
85 107 349 800 1,258 2,075
Total Assets 117 110 372 984 1,475 2,307

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2021 Mar 2022 Mar 2023
-14 -41 13 -60 -180
-34 31 8 -15 -19
48 10 -11 67 248
Net Cash Flow 0 -0 10 -8 49

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2021 Mar 2022 Mar 2023
Debtor Days 85 87 53 77 73
Inventory Days 67 199 391
Days Payable 72 124 167
Cash Conversion Cycle 85 87 48 152 297
Working Capital Days 61 175 43 117 157
ROCE % 0% 41% 34%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
40.78% 40.78% 45.42% 45.42% 47.30% 47.30% 48.20% 50.10% 50.10% 50.10% 50.10% 50.10%
11.01% 11.55% 11.22% 11.31% 10.82% 11.27% 12.05% 11.48% 10.84% 9.86% 8.86% 8.77%
0.00% 0.23% 0.19% 0.20% 0.20% 2.57% 2.57% 2.58% 2.55% 2.63% 2.53% 2.53%
48.21% 47.44% 43.17% 43.08% 41.68% 38.86% 37.16% 35.84% 36.50% 37.42% 38.50% 38.60%
No. of Shareholders 3,7823,3134,9528,2258,76011,36021,20623,03927,20031,94037,57139,861

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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