Explore Business Standard
Don’t miss the latest developments in business and finance.
Agrochemicals
Agrochemical players are likely to witness 15-17 per cent revenue growth this fiscal, mainly driven by strong global and domestic demand, according to a report. Revenue is expected to grow by 10-12 per cent in the next 2023-24 financial year as India continues to benefit from the China+1 strategy of global players and key molecules going off patent, Crisil Ratings said in a report said on Monday. Higher operating leverage will help sustain operating margins at 15-16 per cent in the current fiscal and FY24, despite input prices remaining elevated, it added. Capital spending will continue at similar levels as in the past, but elongation in the working capital cycle will result in higher borrowings, as per the report. "Export revenue is seen rising 18-20 per cent this fiscal, with the US dollar appreciating 9 per cent so far and volume growing as global players continue to de-risk their China dependency. "Next fiscal, exports will likely grow 12-14 per cent as players keep up capex w
Agro-chemicals firm Crystal Crop Protection Ltd is expecting 15 per cent growth in its turnover this fiscal to around Rs 2,600 crore on better sales, its MD Ankur Aggarwal said. The Delhi-based company last week raised Rs 300 crore from IFC to fund its expansion and growth plans. "We will utilise the fund for future growth including capacity expansion of existing plants, and working capital requirements," he told PTI. Crystal Crop, which has seven manufacturing plants across various states, posted a turnover of Rs 2,283 crore during the previous financial year. "We are expecting the revenue to reach around Rs 2,600 crore this fiscal year," Aggarwal said, when asked about the outlook. The sales in rabi (winter sown) season are expected to be strong because of the late monsoon, he added. On acquisition of new brands, Aggarwal said the company keeps looking for suitable opportunities in regular course of business. To expand its business, Crystal Crop has made nine acquisitions to d
Agrochemical company India Pesticides on Friday said it has fixed a price band of Rs 290-296 a share for its Rs 800-crore initial share sale. The three-day initial public offer (IPO) will open on June 23 and conclude on June 25. The bidding for anchor investors will open on June 22, according to the company. The Rs 800-crore IPO comprises fresh issuance of equity shares amounting to Rs 100 crore and an offer of sale for equity shares aggregating up to Rs 281.4 crore by promoter Anand Swarup Agarwal and up to Rs 418.6 crore by other selling shareholders. The Uttar Pradesh-based company may decide to undertake a pre-IPO placement of Rs 75 crore subject to consultation of the merchant bankers. Proceeds of the fresh issue would be used towards funding the working capital requirements and general corporate purposes. India Pesticides is an R&D focused agrochemical technical company, which has growing formulations business in herbicides, insecticides and fungicide segments. It also ...