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The shares of Indrayani Biotech soared to almost 5 per cent today after the company announced its results for the quarter and year that ended on March 31, 2022.

The shares of Indrayani Biotech soared to almost 5 per cent today after the company announced its results for the quarter and year that ended on March 31, 2022. 

Looking at the quarterly standalone results, the net profit of Indrayani Biotech was reported at Rs 1.61 crore in the quarter ended March 2022 as against net loss of Rs 3.25 crore during the previous quarter ended March 2021. Its sales rose 140.92 per cent to Rs 17.25 crore in the quarter ended March 2022 as against Rs 7.16 crore during the previous quarter ended March 2021. The operating profit was reported at Rs 162.13 crore for the quarter ended in March 2022, compared to the operating loss of Rs 0.42 crore posted in the same quarter that ended in March 2021. 

For the full year, net profit was reported at Rs 4.44 crore in the year ended March 2022 as against a net loss of Rs 11.21 crore during the previous year ended March 2021. Its sales rose 191.94 per cent to Rs 61.57 crore in the year ended March 2022 as against Rs 21.09 crore during the previous year ended March 2021.  

Indrayani Biotech Limited was incorporated on March 9, 1992, and it was converted into a public limited company on March 13, 1992. It is into floriculture and is engaged in the cultivation of cut flowers, plantlets & seeds. Indrayani Biotech produces cut flowers, strawberries, tissue culture plantlets, and hybrid vegetable seeds. The company has also started marketing & distribution, and extensive field demonstrations of hybrid vegetable seeds manufactured by HOECHST India.Technical agreements have been signed with Floral Max, Malaysia for rose cultivation and with BL McKenzie & Associates, New Zealand for tissue culture. The company’s registered office and factory are located at Pune, India.

The shares of the company ended at Rs 39.25 on BSE today.  Do keep an eye on this multibagger stock in the future.