In Monday’s trading session, the shares of one of the organised Agri-Input company in India hit a 5% upper circuit and closed at Rs. 397.95 on NSE, after the company received a Membership Certificate on expectations of an increase in exports and revenue.
What’s the News:
According to the latest regulatory filings with the National Stock Exchange (NSE), Nirman Agri Genetics Limited received a Membership Certificate of the Agricultural and Processed Food Products Export Development Authority (APEDA).
This certification is expected to significantly increase the exports of the company across multiple sectors, leading to increased revenue through export business.
Furthermore, it will facilitate the global expansion of the company’s products and services, thereby promoting business growth on an international scale.
Also read
Previous News:
On 21st May, Nirman Agri executed a Land Agreement of 122 acres across various districts of Maharashtra. This strategic move aims to boost production activities, enabling the company to scale up the production of high-quality seeds and launch new varieties. Such initiatives will drive higher revenue and profitability for the company.
Subsequently, on 9th July, the company secured a purchase order from Hsin Seeds, Thailand, valued at Rs. 7.53 crore for the supply of agricultural seeds.
This opportunity is expected to facilitate the company’s expansion in seed exports across multiple countries, further enhancing its market presence internationally.
Financials:
Financially, the company experienced significant growth in its revenue from operations, showing a year-on-year rise of 121.3 percent from Rs. 28.6 crore in FY22-23 to Rs. 63.3 crore in FY23-24.
Similarly, its net profit increased during the same period from Rs. 4 crore to Rs. 10.4 crore, indicating a growth of 160 percent YoY.
Nirman Agri is seeking 250 percent growth in revenue and profit margins on the conservative side in the current year, and the upcoming international federation tie-up will help the company to achieve targets this year. The company has an advance order book for the rabi season is about Rs. 120 crores.
Shareholding Pattern:
According to the latest shareholding pattern, the Promoters hold a 66.05 percent stake in the company, while the Retail Investors hold a 33.95 percent in Nirman Agri Genetics Limited.
About the company:
Incorporated in 2020, Nirman Agri Genetics Limited is engaged in the business of production, processing and marketing of high-quality hybrid seeds, Pesticides, and Bio-organic for different crops like corn, sunflower, cotton, paddy, grain sorghum, etc. and has recently forayed into micronutrients and bioproducts, along with producing non-hybrid seeds, primarily for paddy.
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.
