Penny stock engaged in the business of manufacturing compounded animal feed and feed supplements in India jumped 2 percent in the day’s trade upon launching its own brand to enter the B2C segment along with expanding its presence and operations.
With a market capitalization of Rs. 114 Crores, the shares of Ajooni Biotech Limited were trading at Rs. 6.50, up 0.78 percent from its previous day’s close price of Rs. 6.45.
Ajooni Biotech has announced that it is embarking on a new venture by introducing and dealing in its own brand which will enable it to have greater control over quality, pricing, and customer satisfaction, it will also allow it to better serve its customers and stay ahead of the competition.
Through this initiative byentering the B2C market, marks a significant expansion allowing it to reach individual consumers directly, offering them a wider range of products and services, thereby improving the top line and bottom line of the Company.
In the initial phase of this expansion, the company has rapidly appointed over 100 Dealers across India, signalling a proactive approach to establishing a strong nationwide presence. It has plans to surpass 300 Distribution Points by the end of the quarter, and aims to solidify its position as a leading provider of pure veg Cattle feed and Supplements in the industry
Furthermore, the company is investing in expertise by assembling a team of veterinary doctors and specialists to collaborate closely with the marketing department. Their combined efforts will ensure the development of innovative products and services that meet the evolving needs of farmers and owners of pure vegetarian animals.
Ajooni Biotech Limited is animal health care solutions company, engaged in the business of manufacturing compounded animal feed and feed supplements in India. Its portfolio offers a range of cattle feed, mustard oil cake, cattle feed chips, camel feed, cotton oil cake and feed supplements.
Its revenue from operations grew by 89 percent from Rs. 10.63 Crores in Q3FY23 to Rs. 20.05 Crores in Q3FY24, accompanied by profits of Rs. 54 Lakhs to Rs. 44 Lakhs
It has reported a return on equity (ROE) of 3.86 percent, a return on capital employed (ROCE) of 5.97 percent, and a debt-to-equity ratio of 0.18.
Written by: Bharath K.S
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