In a regulatory filing made during market hours today, the company said that the Central Insecticides Board & Registration Committee (CIBRC) has granted registration to Best Agrolife (BAL) for domestic manufacturing of Trifloxystrobin 10% + Difenoconazole 12.5% + Sulphur 3% combination product.

With this, BAL will become the first Indian agrochemical company to manufacture the said combination product in soluble (liquid) concentrate (SC) form in India.

The company will launch this product in July with the brand name Tricolor and it will be the company patented product. The company is launching Propaquizafop and Amytrn with the brand name Propique and Amito respectively in the first quarter of FY24.

"All these products will help us in maintaining the goal of 30% growth and 20% EBITDA margin in the current financial year,” BAL said in a statement.

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.

The company reported a consolidated net loss of Rs 8.41 crore in the quarter ended March 2023 as against net profit of Rs 38.16 crore during the previous quarter ended March 2022. Sales declined 17.92% to Rs 253.91 crore in Q4 FY23 over Q4 FY22.