The shares of this micro-cap stock gained 8 percent to Rs 239.90 per share after the company received the government’s trade code to tap the global market.
On Monday, Nirman Agri Genetics Ltd shares closed at Rs 234.90 per share, up Rs 12.90 or 5.81 percent from the previous close price. The company has a market capitalization of Rs 139 crore.
Nirman Agri Genetics Limited obtained the Import Export Code on December 8, 2023, from the Directorate General of Foreign Trade, Ministry of Commerce and Industry. It will benefit the company to start exporting different varieties of seeds and pesticides worldwide and cater to the increasing international inquiries.
This will help the company to expand geographically and tap a huge market ultimately benefiting the company’s top line and bottom line.
In addition, Nirman Agri Genetics Limited has been admitted as a Member of Asia & Pacific Seed Association (APSA) w.e.f. January 1, 2023, for the year 2023. It will provide multiple benefits to the company like regular engagement and networking opportunities with global/regional seed industry organizations.
From the aforementioned association, the company will get the benefit of accessing various training and capacity-building programs at the different levels of the Seed Industry. It will also help the company to create better interaction & business opportunities like international collaborations, public public-private partnerships worldwide.
The company’s revenue has jumped by 110 percent yearly, from Rs 13.50 crore in FY 21-23 to Rs 28.61 crore in FY 22-23 In the same timeframe, Net profit has increased by 57 percent from Rs 2.56 crore to Rs 4.01 crore.
The company’s revenue bifurcation is divided into the Seeds division, which provided 86 percent of revenue in FY22, followed by Bio-Agri Inputs at 8 percent and Micronutrients at 6 percent.
Nirman Agri Genetics Ltd shares have gained 34 percent in the last six months.
Nirman Agri Genetics Limited is an organised Agri-Input Company in India. It is engaged in the business of production, processing, and marketing of high-quality hybrid seeds, Pesticides, and Bio-organic.
Nirman Agri Genetics Limited recently forayed into micronutrients and Bioproducts. And they also produce non-hybrid seeds, primarily for paddy.
Written by Omkar Chitnis
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