Agro Chemical stock engaged in the business of production, processing, and marketing of high-quality hybrid seeds, Pesticides, and many more jumped 7 percent in the day trade upon executing a Land Agreement of 122 Acres for enhancing the production Activities.
With a market capitalization of Rs. 130 Crores, the shares of Nirman Agri Genetics Limited were trading at Rs. 218, up 4.31 percent from its previous day’s close price of Rs. 209. It has delivered multibagger returns of 138 percent in a year.
Nirman Agri Genetics Limited has executed a Land Agreement of 122 Acres in Various districts of Maharashtra for enhancing production Activities, which will help the company to maximize the production of quality seeds and launch new varieties. This will enable the company to achieve higher revenue and profitability.
Regarding business orders received recently in Q4, it received a purchase order from Genuine Seed (Thailand) Co. Ltd to supply Agricultural Seeds for a consideration of Rs. 2.61 Crores and this will in return benefit it in expanding its business of export in various countries.
It has also entered into a memorandum of understanding (MOU) worth Rs. 25 Crores, with Gurusiddhi Farmer Producer Company Limited for providing seeds, pesticides, and new technologies to 12,500 farmer groups.
Nirman Agri Genetics Limited is engaged in the business of production, processing, and marketing of high-quality hybrid seeds, Pesticides, micronutrients, and Bio-organics for different varieties of crops.
Its revenue from operations grew by 112 percent from Rs. 13.49 Crores in FY22 to Rs. 28.61 Crores in FY23, accompanied by increasing profits of Rs. 2.56 Crores to Rs. 4.01 Crores.
It has reported a return on equity (ROE) of 27.1, a return on capital employed (ROCE) of 26.6 percent, and a debt-to-equity ratio of 0.09.
Written by Bharath KS
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