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NewsVoir New Delhi [India] May 28 Best Agrolife Limited BSE 539660 NSE BESTAGRO amongst India leading agrochemicals manufacturers announced its audited financial results for the quarter and financial year ended March 31st 2024 in the Board meeting held on 24th May 2024 Commenting on the result and overall update on the financial year 2023-2024 Vimal Kumar Managing Director Best Agrolife Ltd said Despite the many challenges faced during the year for the full year FY24 our revenue grew by 7 on Y-o-Y basis This growth was driven by our shift in business strategy from institutional sales to branded sales This has resulted in the growth of our branded business by 85 However the EBITDA margins reduced to 12 in FY24 mainly because of the stress on the gross margin due to pricing pressures in the market primarily caused by oversupply from China Combination of weather factors our shift towards branded products and an expanding distributor network led to higher trade inventory Additionally emplo ....
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