Aarti Industries Ltd has inked a nine-year, long-term supply contract with a leading global agrochemical products and solutions company for the supply of a niche agrochemical intermediate crucial for a widely used herbicide in food and cash crops such as corn, soyabean, cotton, sugarcane, and sunflower.
The agrochemical intermediate contributes to the efficiency of herbicide applications. . With revenue potential of over Rs 3,000 crore over the nine-year period, the contract is set to commence supplies in the current fiscal year.
Rajendra Gogri, Chairman & Managing Director, said, “Entering this contract in such a challenging macro environment is a testament to the efforts of our team and will go a long way in strengthening our integrated product value chain. In addition to fortifying our association with this prominent customer, who is amongst the leading players for this end-use, the contract provides us an opportunity to grow in the high-value agrochemical space.”
The shares were up by 0.44 per cent at Rs 635.95 at 10.23 am on the BSE.