Shares of an agro company hit the 2% upper circuit after announcing its acquisition of additional land to expand its contract farming operations. The move is aimed at boosting production capacity and strengthening its foothold in the agricultural sector.
Share Price Movement
In Thursday’s trading session, the share price of Spright Agro Ltd opened at a high of Rs.22.37 per share, rising 2.4 percent from its previous close of Rs.21.94 each. Over the past five years, the shares have delivered over 6,300 percent returns.
What is the news
Spright Agro Limited, a significant entity in contract farming and agricultural trading, has announced plans to acquire additional land as part of its strategy to expand its contract farming operations.
This move is expected to contribute a 10-15 percent increase in the company’s overall revenue, strengthening its market position. By expanding its land holdings, the company aims to further solidify its role in the agricultural sector.
The planned acquisition also aligns with Spright Agro’s ongoing focus on sustainable farming practices, ensuring that the expansion will contribute to eco-friendly methods while benefiting local farmers.
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Product & Services
Spright Agro provides a wide array of products and services, focusing on organic farming practices that promote crops grown without synthetic fertilizers or pesticides. The company also offers agricultural support services, including contract farming, greenhouse technology, hydroponics, aeroponics, and cold storage solutions.
Additionally, Spright Agro plays a key role in connecting farmers to consumers through retail channels and facilitating the export of agricultural products internationally.
Financials
Turning towards the financials of the company, Spright Agro Ltd reported Q2 FY25 revenue of Rs.54.03 crore, rising 1,631 percent from Rs.3.12 crore in Q2 FY24. Profit After Tax (PAT) increased substantially by 3,767 percent to Rs.6.96 crore, compared to Rs.0.18 crore in the same period.
Company Profile
Spright Agro Ltd, rebranded from Tine Agro Limited in March 2024, focuses on sustainable agriculture and food production. The company offers organic products and provides agricultural support services, including contract farming and greenhouse technology, as part of its operations.
Written by – Siddesh S Raskar
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