Harshil Agrotech Limited accelerates growth

Harshil Agrotech Limited (HAL) has finalized a major acquisition that underscores its commitment to growth and innovation. The company is engaged in contract farming on 705 Bigha of land acquired and is in talks to acquire additional land to further enhance its agricultural operations. This strategic move will enable HAL to significantly expand its capacity in the agriculture sector.

In addition to this expansion, HAL is entering the trading sector, focusing on fruits and vegetables, with an initial concentration on trading apples from Jammu and Himachal Pradesh. The company anticipates a trade volume of approximately 875 MT for the current quarter, which is expected to positively impact revenue growth and profit margins.

During today's board meeting, further approval was granted to acquire more land for contract farming. Additionally, Mr. Pankajkumar Patel has been tasked with acquiring a company which is engaged in the agriculture sector to create vertical or horizontal synergy. These initiatives are aimed at bolstering the company's growth and enhancing operational efficiency.

These strategic expansions are projected to be financially beneficial for HAL, significantly increasing both top-line and bottom-line growth. With forecasts of revenue reaching approximately 105-115 crore for the fiscal year 2024-2025, HAL is well-positioned to deliver substantial value to its stakeholders. The company remains dedicated to operational excellence and sustainable practices as it adapts to evolving market demands.

Shares of Harshil Agrotech Ltd was last trading in BSE at Rs. 91.08 as compared to the previous close of Rs. 89.30. The total number of shares traded during the day was 332621 in over 2224 trades.

The stock hit an intraday high of Rs. 91.08 and intraday low of 91.08. The net turnover during the day was Rs. 30295120.00.

Source : Equity Bulls

Keywords

HarshilAgrotech INE098E01018 Acquisition AgriculturalOperations