Share price of this micro-cap stock and one of the organised Agri-Input company, moved up by nearly 7.4 percent to Rs. 222.95 on NSE in the trading session of Monday, compared to its previous closing price of Rs. 207.65, after the company announced receiving an export order worth Rs. 2.03 crore.
With a market capitalisation of Rs. 130.2 crores, at 12:00 p.m. the shares of Nirman Agri Genetics Limited were trading in the green at Rs. 218.5, up by 5.23 percent.
According to recent regulatory filings with the NSE, Nirman Agri Genetics Limited received a purchase order worth Rs. 2.03 crore from Hsin Seeds Co. Ltd. in Thailand.
The order is to supply agricultural seeds to Hsin Seeds Co. Ltd., which will allow Nirman Agri Genetics to expand its business of export in various countries.
On April 18th, the company was granted a License by the Government of Telangana to sell, export, import and store agriculture seeds for various purposes in the State of Telangana, which will help the company in expanding and tapping new geographical markets.
Nirman Agri Genetics entered into a Memorandum of Understanding (MOU) worth ~Rs. 25 crore with Gurusiddhi Farmer Producer Company Limited for providing seeds, pesticides and new technologies to 12500 farmers groups, as per March 7th filings on NSE.
In terms of financials, the company’s revenue from operations grew by 45.8 percent QoQ from Rs. 12.95 crore in Q2 FY23-24 to Rs. 18.9 crore in Q3 FY23-24, accompanied by an increase in the net profit by 48.8 percent QoQ, from Rs.2.11 crore in Q2 FY23-24 to Rs. 3.14 crore in Q3 FY23-24.
Nirman Agri Genetics Limited is engaged in the business of manufacturing, processing and marketing of high-quality hybrid seeds, Pesticides, and Bio-organic and has recently forayed into micronutrients and bioproducts.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
