This agriculture stock received an order worth Rs 41,10,297; the stock price is locked into the 5 per cent upper circuit!

It is a micro-cap stock with market capitalization of Rs 178 crore, currently trading at Rs 298 and amid the news the stock price has locked in to 5 per cent upper circuit today hitting its 52-week high.

In a boost to the local agricultural sector, a company based in Nashik has received a purchase order worth Rs. 41,10,297/- for agricultural seeds from Bhagawati Krishi Seva. The order was placed on December 14, 2023, and complies with Regulation.

On December 13, 2023, Nirman Agri Genetics has signed a co-marketing MOU with Agrolife Science to expand their seed reach and tap into a new market, aiming for a conservative 15 crore annual revenue boost. This collaboration will bolster their product portfolio and variety offerings, further aiding in market expansion. The agreement's size will be flexible based on ongoing seed and pesticide needs.

During the Year 2022-23, Company has recorded a turnover of Rs 28.60 crore as compared to turnover of Rs 13.48 crore during the previous financial year. The company registered the PAT (Profit after Tax) of Rs 4 crore, as compared to Rs 2.56 crore, during the previous financial year.

Outlook

Agrochemicals, also known as crop protection chemicals, play a vital role in advancing India’s agriculture sectors. Together with genetically improved crop varieties, they have been instrumental in the successful implementation of the green revolution.

India holds the position of the world’s fourth-largest agrochemical producer and enjoys a trade surplus in this sector. Projections suggest that the agrochemical market is poised to reach USD 8.1 billion by 2025, presenting ample opportunities for growth across the value chain.

The overall outlook for the agrochemicals industry in India remains favorable, driven by robust domestic demand, expanding export opportunities, strategic collaborations with innovators for new product development, and potential exploration of off-patent products along the value chain.

It is a micro-cap stock with a market capitalization of Rs 178 crore, currently trading at Rs 298 and amid the news the stock price has locked into 5 per cent upper circuit today hitting its 52-week high. The company is almost debt-free. The stock price has generated 66.65 per cent returns in last 3 months.

About Company

Nirman Agri Genetics Limited is an organized Agri-Input Company in India. The company is in the business of production, processing, and marketing of high-quality hybrid seeds, Pesticides, and Bio-organic.

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