Share price of this micro-cap stock moved up by nearly 2.52 percent to Rs. 6.1 on BSE in the morning trading session of Monday, compared to its previous closing price of Rs. 5.95, after the company announced entering into a partnership with the National Dairy Development Board (NDDB) Dairy Services.
With a market capitalisation of Rs. 52.6 crores, at 11:48 a.m. the shares of Ajooni Biotech Limited were trading in the green at Rs. 6, up by 0.84 percent.
The company has delivered positive returns of about 23.7 percent in the last one year and nearly 31.9 percent of positive returns in the last six months. However, so far in 2024, it has given negative returns of around 9.09 percent.
According to recent regulatory filings with the NSE, Ajooni Biotech Limited announced a strategic partnership with the National Dairy Development Board (NDDB) Dairy Services.
With this collaboration, the company will supply high-quality cattle feed and feed supplements to support NDDB’s efforts to improve the productivity of milk producer companies and promote sustainable livelihoods among dairy farmers.
NDDB has helped India’s dairy industry with 170 million unions in 285 districts, covering nearly 96,000 villages. More than 10.7 million farmers and labourers are part of the network, directly supplying milk to the co-operatives.
In addition, about 3,500 milk collection centres have been computerised, resulting in accurate and immediate payment to the milk producers.
In terms of financials, the company’s revenue from operations increased by 88.6 percent YoY from Rs. 10.63 crore in Q3 FY22-23 to Rs. 20.05 crore in Q3 FY23-24, accompanied by an increase in the net profit of 300 percent to Rs. 0.44 crore in Q3 FY23-24 from Rs. 0.11 crore in Q3 FY22-23
Ajooni Biotech Limited is a pure vegetarian animal health care solutions company and is engaged in the business of manufacturing cattle feed and feed supplements.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
