About
Bharat Rasayan Ltd
Bharat Rasayan Limited was incorporated as Public Limited Company on May 15, 1989 for the business of manufacturing the Pesticides. The Company manufacture Technical Formulation and Intermediates. Promoted by S N Gupta and Bharat Insecticides, it manufacture own technical grade pesticides, including Metaphenoxy Benzaldehyde, Fenvalerate, Cypermethrin, Ethyl Ester and Isoproturon.
The Company came out with a Public Issue in Feb 1993 to expand its existing capacity as well as to add manufacturing facility for another type of pesticide.
The products of the company are used as raw material by pesticide formulating units whose products are essentially used for plant protection and accelerated output in the agricultural sector. Its clientele includes Searle, Arlabs, United Phosphorous and Ankur Chemicals.
In the year 1998-99, it increased the installed capacity of its technical grade pesticides, fenvalerate technical and cypermethrin technical to 800 MT, 650 MT and 250 MT respectively.
During the year 2010-11, the New Manufacturing Plant at Dahej (Gujarat) was set up under a wholly owned subsidiary of Company, M/s. Siris Crop Sciences Limited, which amalgamated with it through the Scheme of Amalgamation sanctioned by Hon'ble High Court of Delhi on July 19, 2011. As a result, the business undertakings of SIRIS consisting of two units situated at Medak, Andhra Pradesh, and Dahej, Gujarat was transferred into the Company effective from April 1, 2010.
Bharat Rasayan Ltd
Chairman Speech
Dear Members,
I have great pleasure in extending you all a warm welcome to our 34TH Annual General
Meeting of Bharat Rasayan Limited. On behalf of the Board of Directors and my colleagues,
I thank you all for your kind presence here today. The Meeting called to order.
Let me begin by wishing all of you good health and safety.
Notice of the Annual General Meeting along with Explanatory Statement with the consent
of the members taken as read. The Audited Financial Statements including Balance Sheet as
at 31st March, 2023, Statement of Profit and Loss and Cash Flow Statement for the year
ended on that date with the consent of the members taken as read. Corporate Governance
Report, Board's and Auditor's Report for the year ended 31st March, 2023 with the consent
of the members taken as read.
It's a pleasure to share with you the highlights of the progress being made by the
Company since we met approximately twelve months back.
Business Performance
FY 2022-23 was a challenging year, attributed to external and internal factors. Despite
headwinds in Agro industries globally, we have delivered decent results. The fall in the
margins was primarily on account of degrowth in Agro sector. We believe the performance of
the Company will improve gradually in the coming months, we anticipate a return to growth
& margin levels similar to those achieved before the onset of the COVID-19 pandemic in
due course, which we think is sustainable. In fact, we maintain a positive outlook on the
sector and firmly believe in prioritizing growth. In the long term we are confident of
creating sustainable value for the stakeholders.
Recent unfortunate geopolitical developments in Europe are directly and indirectly
impacting the global economy, including the agriculture sector which withstood the
COVID-19 challenges to a greater extent. We are optimistic, yet cautious in managing
associated risks, which are too early to predict.
The Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and High Inflation is
expected to have significant long-term effects on the Global Agrochemicals Market. The
high inflation in developed economies globally has resulted in an overall price surge over
the past two years. The cumulatively eroding overall purchasing power is expected to
impact developing economies significantly and is considered helpful in numerous ways.
It gives me great pleasure to share with you an update on the overall performance of
your Company which performed well and delivered another year of profit. I am glad to
inform you that your Company continues to perform well on a sustained basis. Amid the
volatile circumstances, raw material fluctuations, commodity inflation and supply
disruptions, your Company achieved revenue (turnover) of Rs.1253.68 crores and earned a
Profit before Tax (PBT) of Rs.180.22 crores and Profit after Tax (PAT) of Rs.130.83
crores.
We are making the right investments to scale this business higher. We have already made
investments towards expanding our manufacturing capacities, setting up new capacities for
critical inputs as part of backward integration, acquiring more product registrations and
thrust on R&D for developing relevant products for key markets.
Agro Economy Overview
Indian agriculture is on a growth path, with an increase in investments and private
funding in the past few years. In India, Agriculture accounts for a fifth of the gross
value added and more than half the
population engages in agricultural and related activities. Growth in agricultural
products like fertilizers are bolstered by a favorable policy environment. The sector is
expected to grow with better momentum in the next few years, owing to an increase in
investment in agricultural infrastructure such as irrigation facilities, warehousing and
cold storage. Factors such as reduced transaction costs, time, better port gate management
and fiscal incentives will also contribute to this upward trend.
The increasing population and consequent rise in food demand are expected to propel the
growth of the agrochemicals market going forward. Food refers to the substance consisting
of protein, carbohydrates, fat, and other nutrients used in the body of an organism for
sustaining growth, and vital processes and furnishing energy. The steady growth in the
population is directly proportional to food demand and growth in the agrochemicals market.
Dividend
Considering the consistent profits being made by the Company, your Directors have
recommended a dividend of Rs.1.50 (i.e. 15%) per equity share for the financial year
2022-23.
Health, Safety and Environment
Your Company continues to conduct business with a strong commitment for environment
preservation, sustainable development, safe workplaces and enrichment of the quality of
life of its stakeholders and the community at large by maintaining the required ISO
standards Certification.
Closing Remarks
As we passionately strive for a better future, we continue to set new paradigms every
single day. In an unpredictable and challenging environment, agility and innovation are
key to staying consistently successful. I would like to place on record my sincere
appreciation to the Board of Directors for their guidance. I would also like to express my
gratitude to all our stakeholders for their unwavering faith.
Further with the consent of the members I hereby appoint M/s A.Anand & Co.,
Practicing Company Secretaries as the Scrutinizer for the Poll to be convened and hereby
handover the mike to the Company Secretary to inform the members present about the
business placed before the Meeting as per the Notice of AGM.
Thanking you all.
SAT NARAIN GUPTA
Chairman & Managing Director
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Bharat Rasayan Ltd
Company History
Bharat Rasayan Limited was incorporated as Public Limited Company on May 15, 1989 for the business of manufacturing the Pesticides. The Company manufacture Technical Formulation and Intermediates. Promoted by S N Gupta and Bharat Insecticides, it manufacture own technical grade pesticides, including Metaphenoxy Benzaldehyde, Fenvalerate, Cypermethrin, Ethyl Ester and Isoproturon.
The Company came out with a Public Issue in Feb 1993 to expand its existing capacity as well as to add manufacturing facility for another type of pesticide.
The products of the company are used as raw material by pesticide formulating units whose products are essentially used for plant protection and accelerated output in the agricultural sector. Its clientele includes Searle, Arlabs, United Phosphorous and Ankur Chemicals.
In the year 1998-99, it increased the installed capacity of its technical grade pesticides, fenvalerate technical and cypermethrin technical to 800 MT, 650 MT and 250 MT respectively.
During the year 2010-11, the New Manufacturing Plant at Dahej (Gujarat) was set up under a wholly owned subsidiary of Company, M/s. Siris Crop Sciences Limited, which amalgamated with it through the Scheme of Amalgamation sanctioned by Hon'ble High Court of Delhi on July 19, 2011. As a result, the business undertakings of SIRIS consisting of two units situated at Medak, Andhra Pradesh, and Dahej, Gujarat was transferred into the Company effective from April 1, 2010.