SME stock Nirman Agri Genetics sets board meeting date to consider bonus shares, dividend, expansion plan

Stock Market today: Nirman Agri Genetics SME stock sets board meeting date to consider bonus shares, dividend and Expansion Plan

The Board Meting is scheduled to be held on 13th September 2024

In a release on the NSE, NirmanAgri Generics said that Board of Directors of Nirman Agri Genetics Ltd is scheduled to be held on 13th September 2024 at its Registered Office

The agenda specified for the Board meeting is

Agenda of the Meeting:

1. Declaration of Dividend up to 50%- The Board will consider the declaration of a dividend demonstrating the commitment to rewarding our shareholders in line with our sustained growth and strong financial performance. This dividend reflects the company’s robust profit growth, said Nirman Agri Generics in the release .

2. Issuance of Bonus Shares-

The Board will deliberate on the proposal for issuing bonus shares to existing shareholders. This move as per Nirman Agri Genetics is intended to enhance the liquidity of its stock, improve market participation, and further strengthen shareholder confidence in the company’s future growth prospects.

3. Expansion into automations in Agri industry - It will consider the launch of IOT devices which actively monitor all parameters of farm such as soil parameters, Growth stage, water irrigation level, fertilization of farm etc.

The company’s quarterly revenue growth has been strong 356.2% YoY to ₹50.35 Crore. Quarterly net profits rose 171% YoY, in stark contrast to the sector’s decline.

Nirman’s net profit growth has also been impressive, with an annual increase of 159.76% to ₹10.4 Crore.

Nirman Agri Genetics aims to tap into the opportunities in the agri-tech space, leveraging its planned expansion into the production of sucrose, sugar, ethanol, and other corn-based products. This strategic move is set to diversify the company’s operations and tap into the growing global demand for sustainable and innovative agricultural solutions.

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