MUMBAI — Best Agrolife’s stock rose by 5.37%, reaching Rs 638, following the announcement that the company has been granted a 20-year patent for its “synergistic pesticidal composition.” The patent, awarded by the Indian Government’s Patent Office, is effective from June 29, 2023, under the provisions of the Patents Act, 1970.
The company, which specializes in the manufacturing of agrochemical products, produces over 70 formulations, including insecticides, herbicides, fungicides, and plant growth regulators (PGRs). With a portfolio of more than 360 formulations and 91 technical manufacturing licenses, Best Agrolife remains one of the country’s leading players in the agrochemical sector.
However, despite the positive news regarding the patent, the company reported a 0.2% decline in consolidated net profit, which fell to Rs 94.66 crore for Q2 FY25. This was accompanied by an 8% drop in net revenue, which stood at Rs 746.60 crore compared to Q2 FY24.
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