Best Agrolife aims to introduce new agrochemical products and expand its market presence by acquiring Sudarshan Farm Chemicals India (SFCL), an agrochemical company holding an IP portfolio of 10 patents (applied).
SFCL has been in business forthe last 40 years. As part of the merger, BAL will gain access to all of SFCL’s brands, including “Sutathion,” “Suphos”, “Suchlor” and “Sumidon.” The acquisition will strengthen BAL’s position in the central and south zones with the SFCL brands, according to a research report by Invest Shoppe, a financial advisory firm.
Best Agrolife plans to use SFCL’s expertise in developing a cost competitive and unique manufacturing method for off-patent molecules. The company intends to use this acquisition for its technical brownfield and greenfield capacity enhancements, it said.
Ashish Kapur, CEO of Invest Shoppe, said the synergy between the two companies will enhance Best Agrolife’s manufacturing capabilities and provide backward integration.
Moreover, he said that introducing SFCL’s brands and extensive dealer network marks a strategic expansion of Best Agrolife’s footprint and ensures its agrochemical solutions reach across India.
Best Agrolife has recently appointed Sanjeev Kharbanda as Chief Business Officer and Vikas Jain as Chief Financial Officer.
Best Agrolife will add over 2,500 SFCL dealers when it plans capacity expansion. It currently has a manufacturing capacity of 7,000 MTPA for technicals and 30,000 MTPA for formulations across three manufacturing plants at Gajraula, Greater Noida (both in Uttar Pradesh), and Jammu & Kashmir.
With a network of over 8,500 distributors across India, Best Agrolife has a portfolio of over 480 formulations and over 115 technical manufacturing licenses.
Shares of Best Agrolife was down three per cent at ₹458 on Thursday.