White Organic Agro forays into seeds business

White Organic Agro has diversified its portfolio with its entry into seeds research, development and marketing business. The company is planning to invest around Rs 5 crore for this new venture.

The company would render variety of quality products such as groundnut seeds, Bajra Seeds, fenugreek seeds and sesame seeds. These will be mainly used for pure cultivation, high yield in domestic as well as international market.

Also, going ahead, the rising demand for natural food and increasing health awareness may act as a key driver for these products. Also, the rising focus on non-chemical farming would favour the company.

During the recent quarter Q3FY19, the company posted 90 per cent YoY jump in its revenue. Also, its net profit surged nearly 56.2 per cent YoY to Rs. 5.6 crore.

White Organic Agro provides organic fruits, vegetables, food, and beauty and wellness products. Currently, the company cultivates, harvests and farms the organic products in 1,360 acres. In May 2018, it had acquired additional 160 acres of land to augment its existing 1,200 acres.

On Monday, the stock of White Organic Agro opened at Rs 25.60 and made an intra-day high and low of Rs. 25.75 and Rs. 24 on the BSE. At 15:06 hours, the stock was trading at Rs 24.30. The stock had hit its 52-week high of Rs. 59.05 on March 22, 2018 and its 52-week low of Rs. 23 on February 27,2019 on the BSE.