Earnings from abroad make up 41 per cent- 24 per cent from Germany and 10 per cent from the UK and remaining 7 per cent from Switzerland, Australia and other nations Safex Chemicals, one of the leading global agrochemical companies, has earned ₹1,437 crore in the 2022-23 fiscal. Of this, 41 per cent of the contribution came from abroad-24 per cent from Germany and 10 per cent from the UK with the remaining 7 per cent coming from Switzerland, Australia and other nations.
The revenue was 82 per cent higher compared with the ₹787.95 crore earned in 2021-22.
Revenue within India acontributed 51 per cent and the company has set a target of ₹1,800 crore for the current fiscal, a statement from the company, which is unlisted, said.
Brand formulations make up 51 per cent of Safex Chemicals portfolio, while 44 per cent comes from CDMO (contract development and manufacturing organisation) operations chipped in with 44 per cent. Specialty chemicals contributed the rest.
The statement said the company’s growth has been fuelled by organic and inorganic expansions with three acquisitions over the last 3 years. In October last year, it acquired Briar Chemicals for £73 million.