The shares of this hybrid seeds manufacturer gained up to 5 percent after the company signed a memorandum of understanding with Farm King India to provide all farm equipment products.
With a market capitalization of Rs 175.84 crore, the shares of Nirman Agri Genetics Ltd closed at Rs 293.00 per share, increasing around 2.54 percent as compared to the previous closing price of Rs 285.75 apiece.
According to the exchange filing, Nirman Agri Genetics Ltd signed a memorandum of understanding with Farm King India to provide all farm equipment products. This would enable the firm to market its equipment goods under the Nirman brand in the planned D2C model, as well as provide a one-stop solution under a single roof. It will aid in the introduction of 50 new farm equipment items into the company’s portfolio.
Looking into the company’s financial, Nirman Agri Genetics Ltd’s revenue increased by 112 percent from Rs 13.49 Crore in FY2021-22 to 28.61 Crore in FY2022-23. During the same period, net profits increased by 56 percent from Rs 2.56 crore to Rs 4.01 crore.
Nirman Agri Genetics Ltd reported return ratios in the recent financial year with a return on equity (ROE) of 27.1 percent and a return on capital employed (ROCE) of 26.6 percent.
Nirman Agri Genetics Ltd’s recent shareholding pattern, The Promoters of the company own 66.05 percent while Retail shareholders own a 33.95 percent stake in the company. The company has a debt-equity ratio of 0.03.
The stock has delivered a multi-bagger return of 187 percent as of this year. As a result, if an investor purchases Rs 1 lakh in the firm, their shares are now worth Rs 2.87 lakh after a year.
Nirman Agri Genetics Limited is a well-run agricultural input company. High-quality hybrid seeds, insecticides, and bio-organic fertilizers are manufactured, processed, and sold by the firm.
Written by:- Abhishek Singh
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