The board of directors of the company is scheduled to meet on Monday, August 8, 2022, to consider and approve the financial results for the quarter ended June 30, 2022.
Bhagiradha Chemicals strength is through innovation led product portfolio, well laid out manufacturing capacity, strong in-house research and development, diversified customer base across the globe and competent management bandwidth.
The company’s business development and industries strategy is mainly focused on developing new processes for existing products to optimize costs and non-infringing processes for newly identified off-patent products.
“Opportunities are knocking with the expansion of capacities to cater the rising demand from domestic as well as overseas for the Indian specialty chemicals. The global companies seek to de-risk their supply chains, which are dependent on China,” the company said in FY22 annual report.
The company’s subsidiary, Bheema Fine Chemicals received environmental clearance from the MoEF & CC, Government of India, to manufacture pesticides of 9002 MT per annum. The Karnataka State Pollution Control Board has accorded its consent for establishment recently. Additionally, the company is making sincere efforts for early implementation of the project to augment its much needed capacities.
Meanwhile, after witnessing subdued FY20 marred by production loss caused due to stop production order from AP pollution control board (APPCB) as well as COVID lockdown in March, 2020, the company was able to operate at normal capacities in FY21 post compliance of the directives of APPCB.
For FY22, the company had reported 53 per cent year-on-year (YoY) jump in profit after tax of Rs 35.90 crore as against Rs 23.46 crore in FY21. Revenue from operations grew 37 per cent YoY at Rs 436 crore. The domestic and export sales for the year increased by 34.04 per cent and 47.40 per cent, respectively. Domestic sales growth is largely driven by volume & mix and is broad based.
"Indian farmers are looking for more effective and environment friendly pesticides that can be used in lesser quantities per hectare. As the availability of these items is very low, there is a scope of developing more such products which will benefit all the stakeholders and help the agricultural exports grow," the company said.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app