Safex Chemicals eyes INR 18bn Revenue in FY23-24
New Delhi, 5th May 2023: Safex Chemicals, a leading global Agrochemicals Company with over 30+ years of chemical manufacturing and processing experience, has set its sights on achieving a revenue target of INR 18bn in FY23-24. The company achieved annualized revenue of INR 1437 CR in FY22-23, which included 59% contribution from India and 41% share from the rest of the world, with Germany contributing 24%, UK 10%, followed by Switzerland, Australia and others.
In the last 5 years, the Group has grown at a CAGR of 20% organically & 35% with the latest acquisition. The company has been growing steadily over the years, and this new target is a testament to its commitment to providing high-quality chemical products and exceptional customer service.
Over the years the group has created a well-spread portfolio of business segments across Brand Formulation which contributes to around 51%; Specialty Chemicals, 5%; and CDMO contributes 44% to the overall revenue. The growth has been fueled by organic and inorganic expansions with 3 acquisitions over the last 3 years. The most recent was the acquisition of Briar Chemicals for 73 Million GBP, in October 2022. Over the next three years, the company will be launching an interactive tech platform and will be setting up a new manufacturing unit.
Headquartered in New Delhi, Safex Chemicals has a robust 1500+ global workforce and operates in 20 Nations across 6 Continents. Since its inception, the brand has been synonymous with an uncompromising commitment to achieving food security, environmental safety, quality of life and health.
Commenting on the new revenue target, Mr. Piyush Jindal, Group Director and CFO, Safex Chemicals Ltd., said, “We are delighted to set this ambitious target for the company. It is a testament to the hard work and dedication of our employees and the loyalty of our customers. The fact that we have grown at a CAGR of 35% 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.”
Safex Group is utilizing its multi-discipline asset & technology base for continuous improvement, dependability, social & environmental responsibility. It is committed towards contributing to the ‘net-zero’ challenge through its flexible and green power generation systems.
Currently, the company has 7 state-of-the-art manufacturing facilities, and a 12,000+ dealer network across the country.