Multibagger Stock engaged in the business of production, processing, and marketing of high-quality hybrid seeds, Pesticides, and many more hit a 5 percent upper circuit in the day’s trade upon receiving a trade license from the Government of Rajasthan.
Price Action
With a market capitalization of Rs. 261 Crores, the shares of Nirman Agri Genetics Limited hit a 5 percent upper circuit in the day’s trade at Rs. 438.65, from the previous day’s close price of Rs. 417.80.
What Happened
Nirman Agri Genetics Limited has announced that it has been granted a License for a period of 2 years from the Department of Agriculture, Government of Rajasthan to sell, export, import, and store Agriculture Seeds like cucumber seeds, for various purposes in the State of Rajasthan. This will help to start its business in Rajasthan and achieve its revenue targets
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In Addition, it has recently received a Membership Certificate from the Agricultural and Processed Food Products Export Development Authority (APEDA). This will help the company in taking its services or products to the global market and growing its business
About the Company
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.
Financials and Ratios
Its revenue from operations grew by 121 percent from Rs. 29 Crores in FY23 to Rs. 63 Crores in FY24, accompanied by profits of Rs. 4 Crores to Rs. 10 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 32.4 percent, and a return on capital employed (ROCE) of 33.2 percent. It has reported a debt-to-equity ratio of 0.02.
Written by: Bharath K.S
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