Debt-free penny stock under Rs 35 to keep under radar as company bags new order worth Rs 120 million & Board likely to announce stock split
The company has a market cap of Rs 56 crore and as of June 2024, the company is debt-free.
Julien Agro Infratech Limited has achieved a significant milestone by securing an order for unbranded rice worth Rs. 120 million. This substantial order marks a noteworthy addition to the company's portfolio, which has been specializing in agricultural products for the past two years. The company's expertise in the agricultural sector has positioned it to capitalize on market opportunities and drive business growth. The completion of this order by December 2024 is expected to contribute significantly to the company's revenue and overall financial performance.
Earlier, the company bagged an order for unbranded rice worth Rs 75 million. The consistent acquisition of such substantial orders reinforces the company's position as a leading player in the agricultural products market and demonstrates its ability to meet the growing demand for these essential commodities.
Furthermore, a Meeting of the Board of Directors is scheduled to be held on Tuesday, October 08, 2024, at the Registered Office of the Company for consideration of stock split/sub-division of equity shares.
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Julien Agro Infratech Ltd, a company established in 1997, initially focused on land development, construction services, and related infrastructure projects. However, in FY23, the company shifted its business strategy to include the manufacturing and trading of agricultural products in India. This transition involved trading raw agricultural commodities, leading to a change in the company's name from Silverpoint Infratech Limited to Julien Agro Infratech Limited on August 25, 2023.
On Tuesday, shares of Julien Agro Infratech Limited plunged 7 per cent to Rs 28.37 per share from its previous closing of Rs 30.53 per share with an intraday high of Rs 31.30 and an intraday low of Rs 28.2-0. The stock’s 52-week high is Rs 34.63 and its 52-week low is Rs 22. The stock is up by 22 per cent from its 52-week low of Rs 22 per share.
The company has a market cap of Rs 56 crore and as of June 2024, the company is debt-free. In FY24, the company reported net sales of Rs 21.35 crore and net profit of Rs 0.05 crore. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.