Best Agrolife

K Sumit & Co., Chartered Accountants resigned as statutory auditors of Seedlings India Private Limited, a material subsidiary of Best Agrolife Limited, effective August 11, 2025. The resignation was due to disagreement over audit fee revision, with the auditing firm stating that requests for fee revision to a mutually acceptable level could not be agreed upon, making it unviable to continue their professional responsibilities. K Sumit & Co. was appointed as statutory auditor on September 30, 2022, with their term originally scheduled to expire on March 31, 2027. Their latest work included a limited review report for the quarter ended June 30, submitted on August 7, 2025.

Best Agrolife Limited's Board of Directors approved the reappointment of Vimal Kumar as Managing Director for a five-year term from August 14, 2025 to August 13, 2030. The decision was made based on recommendations from the Nomination and Remuneration Committee and is subject to shareholder approval. Kumar's current five-year term expires on August 13, 2025. The 47-year-old executive has played a crucial role in Best Agro Group's growth and brings comprehensive experience in the agrochemical industry, overseeing strategy, management, development, and integration of company policies. Kumar is related to Surendra Sai Nallamalli, who serves as Whole-Time Director of the company.

Best Agrolife Limited reported Q1 FY'26 revenue of ₹382 crores, declining 27% from ₹519 crores in the previous year. Despite the revenue drop, the company showed profitability improvements with gross margin expanding to 30% from 24% and EBITDA margin increasing 140 basis points to 12%. PAT remained stable at ₹20 crores with margin improving to 5% from 4%. The company significantly reduced sales returns to ₹13 crores compared to ₹35-40 crores in the previous year. Best Agrolife's patented portfolio grew 14% despite overall revenue decline, with newly launched patented products Shot Down and Hustler achieving over 5 lakh acres coverage in their first season. The company has shifted from a push to pull sales model to improve profitability and reduce excess inventory. Management provided FY'26-27 guidance of ₹1,600-1,700 crores revenue with 15%+ EBITDA margin target. The company received two new patents for insecticide-fungicide combinations and launched new products including Cubax Power Extra and Trishanku. Best Agrolife is expanding internationally with registration processes ongoing in multiple countries and has planned a ₹90 crore CAPEX for additional plant capacity.