The shares of this hybrid seeds manufacturer gained up to 4 percent after the company’s board scheduled a meeting for a Bonus issue, expansion plan, and dividend.
With a market capitalization of Rs 353.63 crore, the shares of Nirman Agri Genetics Limited were trading at Rs 441.50 per share, increasing around 3 percent as compared to the previous closing price of Rs 428.05 apiece.
Reason of Rise:-
According to the company filing, Nirman Agri Genetics Limited’s board of directors scheduled a meeting on 13th September 2024 for a bonus issue to existing shareholders to enhance liquidity, an expansion plan into automation in the Agri industry by the launching IOT devices, and also board will consider the declaration of a dividend of up to 50%.
Financial performance:-
Analyzing the company’s financial, Nirman Agri Genetics Ltd’s revenue increased by 356 percent from Rs 11.04 Crore in Q1FY24 to 50.35 Crore in Q1FY25. During the same time frame, net profits magnified by 178 percent from Rs 1.81 crore to Rs 5.04 crore.
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Order Book:-
The company has an advance order book of Rs 120 crore for the Rabi season and plans to launch its new brand, Krushidham. It will introduce 3-4 new divisions and a genetically modified hybrid seed to capture new markets and drive industry impact.
Recent Updates:-
It has obtained a work order from Hsin Seeds Thailand for Rs. 7.53 crores to provide several types of agricultural seeds. This will help it broaden its reach across boundaries.
It had got a license for a term of two years from the Department of Agriculture, Government of Rajasthan to sell, export, import, and store agricultural seeds, such as cucumber seeds, for various uses in the State of Rajasthan
Remarkable return:-
The stock has given a return of 51 percent in 6 months and a multi-bagger return of 190 percent in a year. If an individual invested Rs 1 lakh a year ago, it would be worth now Rs 2.90 lakh.
Also read: Smallcap stock jumps 8% after receiving order worth ₹ 2,700 Cr from Saudi Water Authority
Company profile:-
Nirman Agri Genetics Ltd. is engaged in the business of production, processing, and marketing of hybrid seeds, pesticides, and bio-organic for different crops like corn, sunflower, cotton, paddy, and grain sorghum among others. It also produces non-hybrid seeds, primarily for paddy.
Written by:- Abhishek Singh
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