Annual Report for the Financial Year 2025-26

WBest Affotitelimited CIN : L74l l0DLl992PLCl16773 4th September,2O26 National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, BIock-G, 25ttt Floor, p.l. Towers, Bandra - Kurla Complex Dalal Street, Mumbai-400001 Bandra (E), Mumbai-4000S1 Scrin Code: 539660 Scrip ID: BESTAGRO Subiect: Notice of the 3Str' Annual General Meeting ("AGM") and Annual Report for the Financial year2O25-26 Dear Sir/Madam, Pursuant to Regulation 34 of the SEBI (Listing obligations & Disclosure Requirements) Regulations, 2015, as amended from time to time, please find enclosed the Notice convening the 35ttt AGM scheduled to be held on Tuesday, Septemb er 29,2026 at lz:30 p'm' through video conference / Other Audio-visual Means (oAVM) and the Annual Report for the Financial Year 2025-26, which is being sent through e-mail to all the Members of the company today, who have registered their e-mail address with the Company/ Depository participant(s). ThesamecanalsobeaccessedonthewebsiteoftheCompanyat@ Yo[r are to take the same on record. Ioliri' @ negd. Office & Corporole Office: B-4, Bhogwon Doss Nogor, Eosi Puniobi Bogh, New Delhi-1 10026 $ Phone, Oll-45803300 | Fox:0ll-45093518 @ info@bestogrolife.com lwww.bestogrolife.com MAKE IN INDIA Best Agrolife Limited Annual Report 2025-26 Pioneering Research. Advancing Agritech. Building Trust. About this Report Contents For more information www.bestagrolife.com This Annual Report presents Strategic Review Financial Statements the performance, strategy and FY26 Highlights 04 Risk Management 38 Standalone Independent progress of Best Agrolife Limited 133 Auditor’s Report About Best Agrolife 06 Management Discussion for the financial year ended 40 and Analysis Standalone Financial Manufacturing Infrastructure 10 145 31 March 2026. It covers the Statements Research and Development 16 Company and its subsidiaries, Statutory Reports Consolidated Independent 200 Geographical Presence 18 Auditor’s Report and should be read alongside the Product Portfolio 20 Corporate information 45 Consolidated Financial Statutory Reports and the audited Statements 210 Chairman's Message 24 Key Details at a Glance 46 Financial Statements that follow. Managing Director's Message 26 Notice 47 Business Model 28 Directors’ Report 65 Key Performance Indicators 30 Corporate Governance Report 87 Feedback Board of Directors and Business Responsibility and 32 108 Senior Leadership Sustainability Report For further information, please contact Corporate Social Responsibility 36 Investor Relations at ir@bestagrolife. com, or visit www.bestagrolife.com. Forward looking statement This Annual Report contains forward-looking statements intended to provide investors with insight into the About Best Chairman’s Managing Company’s outlook and to assist informed decision- Agrolife Message Director’s making. These statements, together with other periodic Message written and verbal communications, reflect the current Pg. 06 Pg. 24 Pg. 26 plans, expectations and assumptions of management. Words such as ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘intend’, ‘plan’, ‘project’ and similar expressions typically It gives me great pleasure to present FY26 was a year that demanded agility, indicate forward-looking statements. While based on the Annual Report of Best Agrolife discipline and thoughtful execution. assumptions believed to be reasonable at the time, Limited for FY26. As I reflect on the year, The operating environment remained such statements are subject to known and unknown I do so with confidence in the direction challenging, with subdued demand risks, uncertainties and other factors that could we have chosen. While the operating across parts of the agrochemical cause actual outcomes to differ materially from those environment continued to evolve, sector, elevated channel inventory and expressed or implied. Any such divergence may result Manufacturing our focus remained on strengthening continued pricing pressure. Against from changes in the business environment, market Infrastructure the business through thoughtful this backdrop, our focus remained dynamics, regulatory developments or inaccuracies investment, disciplined decision- on strengthening the quality of our in assumptions. Given these inherent uncertainties, Pg. 10 making and a long-term perspective. business, advancing strategic priorities readers are advised to exercise caution in relying on These priorities continue to guide us as and preparing the Company for forward-looking information. The Company undertakes we build a stronger, more differentiated sustainable growth. The decisions we no obligation to update any forward-looking statement and more resilient Company. took during the year were guided by publicly, whether as a result of new information, future long-term value creation rather than developments or otherwise. short-term outcomes. Pioneering Research. FY 2025–26 was a demanding year for the Indian agrochemical industry, marked by unfavourable weather conditions, variable pest pressure, higher inventory levels across the Advancing Agritech. distribution channel and volatility in raw material prices, which affected demand across several crop segments. Against this challenging backdrop, Best Agrolife Limited remained focused on strengthening the capabilities that support its long-term Building Trust. growth. The Company continued to invest in research and intellectual property, advance the development of technical molecules, expand its differentiated product portfolio and deepen its understanding of evolving farmer needs. The Company also took measured steps to reduce inventory, optimise operating expenses and strengthen its balance sheet. While these steps resulted in lower revenue during the year, the Company remained focused on protecting realisations, improving channel quality and establishing the business on a stronger and more sustainable footing. At the same time, continued engagement with farmers and the positive response to its specialty portfolio reaffirmed the relevance of the Company’s research-led approach and strengthened the trust and confidence placed by customers and stakeholders in its solutions. These capabilities form the foundation of the enterprise: a strong R&D ecosystem, a commitment to Make in India and Made in India, an integrated manufacturing base, a differentiated product portfolio and a growing engagement with the farming community. By taking research and innovation from the laboratory to the field and combining it with disciplined execution, Best Agrolife is strengthening its role in agritech while deepening relationships across the agricultural ecosystem. Together, these capabilities provide the Company with a strong platform to pursue sustainable growth with greater resilience and consistency as market conditions normalise. 4 Best Agrolife Limited Strategic Review Statutory Reports Financial Statements Annual Report 2025-26 5 FY26 HIGHLIGHTS Key Developments FY26 was shaped by a challenging operating environment for the agrochemical industry, with subdued demand and pricing pressure affecting market conditions. Amid these headwinds, Best Agrolife Limited Across the Business remained focused on strengthening the business through disciplined execution, advancing its portfolio of patented products, expanding its manufacturing and international capabilities and improving operational efficiency. The milestones achieved during the year reinforced the Company’s long-term growth platform and strategic direction. Strategic and Business Highlights Operational and Financial Highlights Patented portfolio Three patented Gross margin improved to Inventory reduced by contributed approximately products launched approximately 30% ₹122 crore 41% of branded sales Best Man, Fetagen and Shot Down were Gross margin edged up to approximately 30% Inventory declined by around 16% year launched across India, strengthening the from around 29% in FY25, supported by an on year, [Showing first 8,000 characters — download PDF for full document]