39 The products falling under these product groups are used by customers belonging to the Agriculture and Crop Protection Chemicals industries. The product groups comprise 34 products and 70 formulations. 2,4-D, Indoxacarb, Isoprothiolane and Sulfonylurea herbicides are some of the key products. During 2022-23, sales increased by 25% from ` 924 cr to ` 1,151 cr. Sales in India increased by 11% from ` 374 cr to ` 416 cr; bulk sales in India increased by 10% from ` 198 cr to ` 218 cr whereas retail sales, which is currently only in India, increased by 12% from ` 176 cr to ` 197 cr. Sales outside India increased by 34% from ` 550 cr to ` 735 cr and formed 64% of the total. Crop Protection Product groups: herbicides, insecticides, fungicides, others Growth on account of volume was 17%. The Company completed two projects and undertook one project for implementation. The size of the world crop protection market is estimated to have increased from US$ 65.2 bn in 2021 to US$ 69.3 bn in 2022. The main attributing factors for this are strong commodity prices, and high agrochemical prices resulting from disruption in the global supply chain. Theworld cropprotection chemicals market is expected to Atul Ltd has identified two reporting segments, namely, Life Science Chemicals and Performance and Other Chemicals. Life Science Chemicals segment consists of three sub-segments, namely, Crop Protection, Pharmaceuticals and Intermediates and Aromatics - I. Life Science Chemicals segment Sales (` cr) 1,715 2022-23 1,445 2021-22 19% change Share in total sales (%) 34% 2022-23 29% 2021-22 5% change Remark Increase | (Decrease) 2021-22 2022-23 Ratios Negligible debt and interest cost; the Company is effectively operating at zero debt. 41% 317.67 447.50 Interest coverage ratio (100%) 0.02 - Debt-to-equity ratio - (18%) 15.15% 12.40% Return on net worth (%) Management Discussion and Analysis
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