Penny stock under Rs 60 rockets over 15 per cent in just 1 day – Company belongs to fertilizers & agrochemicals industry: Reports a 145 per cent jump in PAT

The company has a market cap of Rs 497 crore and has delivered good profit growth of 42.1 per cent CAGR over the last 5 years.

Nova Agritech Ltd is a leading manufacturer in the agricultural input sector, specializing in products tailored for soil health management, crop nutrition, and crop protection. Engaging in the manufacturing, distribution, and marketing of a wide range of product categories including those for soil health management, crop nutrition, biostimulants, biopesticides, Integrated Pest Management (IPM), technological innovations, and crop protection, the company operates through its subsidiary, Nova Agri Sciences Private Limited.

According to the standalone Quarterly Results, the net sales increased by 59 per cent to Rs 57.40 crore and net profit increased by 145.5 per cent to Rs 7.88 crore in Q4FY24 compared to Q4FY23. In its annual results, the net sales increased by 53.7 per cent to Rs 179.84 crore and net profit increased by 121 per cent to Rs 18.60 crore in FY24 compared to FY23.

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According to the consolidated quarterly results, the company reported net sales of Rs 70.77 crore and net profit of Rs 8.28 crore in Q4FY24 compared to net sales of Rs 73.17 crore and net profit of Rs 8.07 crore in Q3FY24. In its annual results, the net sales increased by 20 per cent to Rs 252.47 crore and net profit increased by 38.2 per cent to Rs 28.31 crore in FY24 compared to FY23.

Today, shares of Nova Agritech Ltd gained 15.32 per cent to Rs 55.30 from its previous closing of Rs 47.95. The stock’s 52-week high is Rs 78.47 and its 52-week low is Rs 45. The company has a market cap of Rs 497 crore and has delivered good profit growth of 42.1 per cent CAGR over the last 5 years. The shares of the company have a PE of 16x, an ROE of 22 per cent and an ROCE of 22 per cent. Investors should keep an eye on this penny stock.

Disclaimer: The article is for informational purposes only and not investment advice.