The company further informed that the new patent is a combination of Ametryn+2, and 4D+Halosulfuron methyl used for the control of weeds in sugarcane as pre, early post, and post-emergent herbicide.

Vimal Alawadhi, the managing director of Best Agrolife (BAL), said: “Sugarcane is the most significant crop for Indian agriculture and the economy. Our nation is the world's largest producer and consumer of sugar as well as the world's 2nd largest exporter of sugar.

Unfortunately, in absence of efficient and safer herbicides, the country suffers a total cane yield loss of around 25 million tonnes per annum (equivalent to 2.5 million tonnes of sugar) valued at around INR 1500 crores. Hence there is an urgent market demand for more sustainable herbicides that can control even the worst weeds at all stages.”

Best Agrolife is engaged in the in the trading of agrochemical products such as insecticides, pesticides, herbicides, fungicides and plant nutrients. The company's crop protection chemical products are sold through distributors and co-marketing alliances with leading Indian companies throughout the country. It has almost 60 plus products, 80 plus technical licenses, 360 plus formulation licenses, 30,000 plus MTPA manufacturing formulation capacity and a 7000 plus MTPA integrated technical plant, one of the country's most comprehensive portfolios.

The company's consolidated net profit increased by 97.80% to Rs 30.62 crore in the quarter ended December 2022 as against Rs 15.48 crore during the previous quarter ended December 2021. Sales rose 40.97% to Rs 327.75 crore in Q3 FY23 over Q3 FY22.

The scrip shed 0.60% to currently trade at Rs 1088 on the BSE.