Nirman Agri Genetics Sets Board Meeting to Consider Bonus Shares, Dividend, and Expansion Plan

Nirman Agri Genetics, an SME stock listed on the NSE, has announced that its Board of Directors will convene on September 13, 2024, to deliberate key decisions, including the declaration of a dividend, the issuance of bonus shares, and a strategic expansion into agri-tech.

In its official release, Nirman Agri Genetics outlined the agenda for the upcoming board meeting, which will be held at the company’s registered office.

Key Agenda Items:

1. Declaration of Dividend (up to 50%)
   The Board will consider declaring a dividend of up to 50%, reflecting the company’s commitment to rewarding shareholders. The proposed dividend highlights the company’s strong financial performance and consistent profit growth, according to the company’s statement.
2. Issuance of Bonus Shares
   The Board will also deliberate on a proposal to issue bonus shares to existing shareholders. The move aims to enhance stock liquidity, boost market participation, and strengthen shareholder confidence in the company’s future growth prospects.
3. Expansion into Agri-Tech Automation
   Nirman Agri Genetics is exploring an expansion into the agri-tech space by launching IoT devices designed to monitor various parameters of farming, such as soil health, growth stages, water irrigation, and fertilization levels. This move is expected to position the company as a leader in innovative and sustainable agricultural solutions.

Nirman Agri Genetics has experienced remarkable growth, with its quarterly revenue rising by 356.2% year-on-year (YoY) to ₹50.35 crore. Quarterly net profits surged by 171% YoY, sharply contrasting with the broader sector’s decline. The company’s net profit growth has also been notable, increasing by 159.76% annually to ₹10.4 crore.

As part of its strategic expansion, Nirman Agri Genetics aims to tap into the growing demand for sustainable agricultural products by diversifying into the production of sucrose, sugar, ethanol, and other corn-based products. This move is expected to further strengthen the company’s position in the global agri-tech market and drive long-term growth.

Disclaimer: The information provided in this article is based on news updates and reports gathered from various internet sources. While every effort has been made to ensure the accuracy and reliability of the information, we encourage readers to verify the details independently before making any decisions.