SME Nirman Agri Genetics to consider bonus issue, stock split at board meeting on September 10

The company in a filing stated it is considering the proposal for declaration and recommendation of bonus shares (up to 10 bonus shares for every 1 equity share held).

Nirman Agri Genetics on Monday said its board will meet on September 30 to consider proposals including a bonus issue, stock split and expansion into hydroponics and aquaponics.

The company in a filing stated it is considering the proposal for declaration and recommendation of bonus shares (up to 10 bonus shares for every 1 equity share held), subject to shareholder and other requisite approvals.

Additionally, the company board on September 30 will consider a proposal to subdivide the existing equity share having face value of Rs 10 per share into a greater number of equity shares (up to 1:10 ratio) to improve liquidity and broaden shareholding base.

To address rising demand for sustainable, water-efficient agriculture and pesticide-free produce, the board will consider a strategic expansion into hydroponics and aquaponics, the filing said.

With India needing high-yield, low-water approaches, this move would enable the company to leverage its R&D strengths, capture premium margins, and tap both domestic and export opportunities in fresh produce, herbs, and specialty crops, it added.

Pranav Kailas Bagal, Managing Director, Nirman AgriGenetics Limited, said, "These proposals are designed not only to enhance shareholder value and increase our shares' appeal in the market, but also to modernize our operations by aligning them with cutting-edge agricultural technologies." For FY24-25, the company reported revenue from operations of Rs 236.51 crore with Y-o-Y growth of 273%, and net profit of Rs 25.28 crore.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.