Shares of this multibagger stock under the ‘micro-cap’ category jumped up to 3 percent in Monday’s trading session after the company received a purchase order to supply agricultural seeds worth approximately Rs 2.62 crores. In the past month, the company’s stock gained nearly 20 percent for its holders.
With a market capitalization of Rs 131.14 crores, the stocks of Nirman Agri Genetics Limited opened their trading hour on Monday at Rs 210.05 and currently trade at Rs 220. The company’s scrip witnessed an intra-day high price of Rs 223.85, indicating a gain of around 3 percent compared to the previous close of Rs 217 apiece.
Such bullish share price movements were observed today after the company, via a recent regulatory filing with the Bombay Stock Exchange (BSE), intimated about the receipt of a Purchase Order from “Genuine Seed (Thailand) Co. Limited” on 29th April 2024 worth approximately Rs 2.62 crores.
The above mentioned purchase order has been received for the supply of agricultural seeds and the same will benefit the company to expand its export business in various countries.
During the recent financial quarters, the company’s prime indicators of business, viz, its operating revenues as well as after-tax profits, showed some positive movements with the former increasing from Rs 12.95 crores during Q2FY24 to Rs 18.89 crores during Q3FY24, and the latter, keeping the timeframe the same, rising from Rs 2.11 crores to Rs 3.14 crores.
Historically, the company’s return ratios were maintained at decent levels with the return on equity (RoE) reported at 14.85 percent and the return on capital employed (RoCE) reported at 15.42 percent.
Keeping a purview of the last one year, the company’s stock has proven to deliver multibagger returns of approximately 197 percent to its stakeholders, i.e., if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 2.97 lakhs.
Founded in 2018, Nirman Agri Genetics Limited is a Maharashtra-based company operating as an agri-input company engaged in the production, processing, and marketing of pesticides, hybrid seeds, and bio-organics. The company also produces ‘non-hybrid’ seeds that are primarily used for paddy.
Written by Amit Madnani
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