One of the microcap ethanol stocks engaged in trading petroleum-based products like biofuels, bitumen, and furnace oils, and also specializes in the operation and maintenance of ethanol manufacturing in government-owned distilleries. The stock has hit a 5 percent upper circuit after approving the company’s authorized share capital increase and strategic acquisitions of two companies.
Stock Price Movement
With a market capitalization of Rs. 56.78 crores, the shares of Greenhitech Ventures Limited’s stock surged by 5 percent, reaching an upper circuit of Rs. 120.80 per share on Wednesday, up from its previous closing price of Rs. 115.05 per share.
What Happened
Greenhitech Ventures Limited’s board meeting held on January 21, 2025, approved several significant corporate actions. These include an alteration in the Articles of Association to facilitate future securities issuance, subject to shareholder approval, and an increase in the company’s authorized share capital from Rs. 5 crore to Rs. 15 crore.
Additionally, the company has approved acquiring 76% of Tritech Industrial Solutions Private Limited and 100% of Greenkashi Bio Energy Private Limited via share swap through preferential allotments at Rs. 105 per share.
Furthermore, the company also plans to issue 8,24,000 equity shares and 12,09,200 convertible warrants on a preferential basis. An Extraordinary General Meeting (EGM) is scheduled for February 19, 2025, to approve these transactions. These steps are aimed at achieving inorganic growth and expanding into new business areas like consultancy and bioenergy.
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Business Operations
The company focuses on distributing petroleum-based products like biofuels, bitumen, and furnace oils. It also operates and maintains ethanol production at government-owned distilleries, adhering to bio-diesel blending regulations from 2015 under government contracts.
Financial Highlights
Greenhitech Ventures Limited’s revenue has increased from Rs. 2.04 crore in H1 FY24 to Rs. 11.11 crore in H1 FY25, which has grown by 444.61 percent. The net profit of the company has converted from net loss into net profit, from Rs. -0.12 crore in H1 FY24 to Rs. 0.51 crore in H1 FY25.
Written By – Nikhil Naik
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