Safex Chemicals revenue jumps 82% to Rs 1,437 crore last fiscal

Safex Chemicals revenue jumps 82% to Rs 1,437 crore last fiscal

Agrochemical firm Safex Chemicals on Thursday reported an 82 per cent increase in its revenue to Rs 1,437 crore during the last fiscal on higher demand.

Its revenue stood at Rs 787.95 crore in the previous year.

Safex Chemicals in a statement said it has set a revenue target of Rs 1,800 crore for 2023-24.

"The company achieved annualised revenue of Rs 1,437 crore in 2022-23, which included 59 per cent contribution from India and 41 per cent share from the rest of the world," it added.

The growth has been fuelled by organic and inorganic expansions, with three acquisitions over the last three years. The most recent was the acquisition of Briar Chemicals for 73 million pounds in October 2022.

Piyush Jindal, Group Director and CFO, Safex Chemicals, said, "The fact that we have grown at a CAGR of 35 per cent over the last 5 years reiterates the value we provide to our customers across all our business portfolios. We are confident that with our exceptional products and services, we can achieve this target and continue to grow as a company".

Currently, the Delhi-based company has seven manufacturing facilities.