Strong. Stable. Sustainable.
We have a strategic CAPEX vements. We plan to expand our technical
capabilities and enhance backward integration. This reduces our reliance on external
sources, leading to a more sustainable cost structure.
Dear Stakeholders,
I extend my heartfelt gratitude to all of you, especially the farmers,
for their unwavering support and trust in Best Agrolife. Your contribution to our success
is invaluable, and we remain committed to serving you with our best efforts.
The global economy has been navigating through turbulent times, marked
by financial sector turmoil, high inflation, and the repercussions of Russia's
invasion of Ukraine. In the face of these challenges, we have remained resilient and
focussed on achieving our objectives.
I am pleased to share that despite the prevailing headwinds, Best
Agrolife has achieved a remarkable milestone in revenue growth. Our turnover for FY23
stands at 1,746
Crores, representing a robust growth of 44% compared to the our unique
previousfiscal value proposition and cost-effective solutions that address the specific
needs of farmers, contributing to our sustained success year after year.
Our dedication to innovation and execution has resulted strides
ininsignificant patenting our products, ensuring they not only meet market demand but also
provide substantial top-line growth. The strategic shift from generic to specialised
offerings has been instrumental in strengthening our market position and driving growth.
Our most valued asset, our talented workforce, continues to be the
driving force behind our accomplishments. We firmly believe in investing in their
development and empowering them to excel in their roles. Through continuous learning and
training initiatives, we equip our employees with the necessary expertise to thrive in a
dynamic industry.
As a responsible corporate citizen, we remain committed to our
Environmental, Social, and Governance (ESG) responsibilities. In line with this
commitment, we have undertaken various Corporate Social Responsibility (CSR) initiatives.
These include supporting healthcare and education programmes for children of leprosy
patients, creating infrastructure to promote animal care, restoring biodiversity through
planting initiatives, and providing healthcare support through necessary equipments. These
initiatives reflect our dedication to making a positive impact on society.
Embracing sustainable practices, we have taken a significant step
towards clean energy by securing a
Power Purchase Agreement (PPA) and Solar Hedge Agreement (SHA) for the
supply of 3 MW solar energy. This renewable energy will power our manufacturing unit in
Gajraula, Uttar Pradesh.
Embracing sustainable practices, we have taken a significant step
towards clean energy by securing a Power Purchase Agreement (PPA) and Solar Hedge
Agreement (SHA) for the supply of 3 MW solar energy.
Looking ahead, we have a strategic CAPEX plan to expand our technical
capabilities and enhance backward integration. This reduces our reliance on external
sources, leading to a more sustainable cost structure. We are actively exploring
opportunities to expand our market footprint, both domestically and in select overseas
markets, aiming to drive a 30% year-on-year growth.
I express my heartfelt appreciation to all stakeholders and every
member of the Best Agrolife family for their unwavering dedication and commitment.
Together, we will continue to make a positive impact on the agriculture industry,
empowering farmers and driving sustainable growth. Thank you once again for your ongoing
support.
Warm regards,
Braj Kishore Prasad
Chairman