Safex Chemicals Limited, a fast growing Indian agrochemicals company, is planning to invest Rs. 100 crore in three years under the new arm AgCare Technologies Pvt. Ltd.

Safex has recently announced that continuous advancements in processes, augmenting capacities, and enhancement of capabilities has empowered it to grow over 21 times since 2010 and making it an over 24% CAGR business over the last five years. The company is aiming to grow over 14% organically while leading its inorganic growth towards 56% for its adaptation and evolution with forever changing scenarios.

Speaking on the growth, Piyush Jindal, Group Director, Safex said, “We are delighted to announce that we have undertaken four acquisitions in the past seven Years. We also enjoy the status of being an A rated company for our external credit rating by premier rating agency “CRISIL” because of our phenomenal financial track record, strong debt protection metrics and superior creditworthiness. To maintain a sustainable performance and strategize better market penetration, we are looking forward to commence our marketing operations in J&K, Assam, Tamil Nadu, and Karnataka.”

In FY23, Safex acquired Briar chemicals based out of the UK and embarked on its journey to become a market player in the CDMO space. The company believes that this will prove to be a step in the right direction to build on new competencies and become an integrated player within the agrochemical industry value chain thus helping in gaining a strong leadership position in the industry. The transaction enumerates to be one of the largest outbound acquisitions within chemical space in India.

Going forward, Safex is aiming to catapult itself to a higher orbit of success. To that extent, the company is also expanding its footprints further into the EU, UK, and China region expediting synergies within various operations of the group. Among other rapid advancements this year, Shogun Organics developed and patented an indigenous molecule Renofluthrin for home insecticide. Renofluthrin could be the group's catalyst in the near future, strengthening its portfolio in the home insecticide segment.

Shogun, under Safex management, is aggressively pursuing new manufacturing registrations in order to bolster itself as a key player in the home insecticides segments over the next three years.