Crystal Crop

active

Established in 1994, Crystal Crop Protection Limited (the “company”) is an agrochemical company in India which, along with its two subsidiaries i.e., Modern Papers and Nexus Crop Science Private Limited, is engaged in the technical manufacturing, formulation and marketing of agrochemical products such as insecticides, fungicides, herbicides, and plant growth regulators / micro-nutrients. The company has: two (2) operational Active Ingredients (AI) Manufacturing Plants in Nagpur (Maharashtra) and Nathupur (Haryana); one (1) greenfield AI Manufacturing Plant at Dahej (Gujarat) under construction; four (4) operational Formulation Plants located at Jammu (CCPL Jammu and Modern Paper in Jammu & Kashmir), Nathupur (Haryana) and Nexus Crop Science Plant at Anand (Gujarat). In addition, the company also has four (4) regional distribution centres (located at Kundli, Hyderabad, Kolkata and Indore) and a total of 29 retail warehouses located across India. The company exports agrochemicals to multiple countries, though currently this constitutes only about 3% of revenues. The company operates across two major business segments: i) the brands (B2C) segment where the company sells formulations as branded products to ~10,000,000 farmers through distribution partners with a portfolio of ~70 brands for various crops (Paddy, Cotton, Soyabean, Sugarcane, Wheat, Vegetables, Fruits and Pulses) utilizing a pan-India distribution network consisting of approximately 5,000 distributors; 30+ distribution centres; and ~25,000 retailers; and ~ 1,000 farm advisors who directly contact ~500,000 farmers and ii) institutional (B2B) where the company manufactures and sells 60+ products such as active ingredients, bulk products and pack-to-pack products to 100+ institutional customers. IFC is proposing an investment in the company to support; i) expansion of a recently acquired, operational, active ingredient manufacturing facility at Nagpur in the State of Maharashtra, India planned between March 2022 and March 2024; ii) greenfield development of an active ingredients manufacturing plant that is under construction at Dahej in the State of Gujarat, India and expected to be commissioned in December 2021; iii) registration of new molecules; and iv) financing working capital (the “Project”). Company has completed environmental and social impact assessment (ESIA) studies and obtained environmental clearance from central regulatory authorities for both Nagpur and Dahej projects.The company has also diversified into manufacturing, distribution of seeds (pearl millet, paddy, maize, grain sorghum, fodder, and cotton) and the distribution of agri-equipment (sprayers and crop harvesters). To diversify into the seed business, the company acquired M/s Rohini Seeds Private Limited in 2012 and currently owns 75 acres of advanced R&D farms and a state-of-the-art seed processing facility at Hyderabad (Telangana). The seed business division of the company has: 1,200 distribution partners; 15,000 retail partners; 5 institutional customers; 60+ sales and marketing team; 100+ crop advisors; and 13 supply distribution centres.