This Penny Stock Trading Below Rs 10 Locked At 5% Upper Circuit Limit After Q3 Results

Since its founding in 1994, Spright Agro has developed into a major player in the food and agriculture industries worldwide. A wide range of products and services are included in the company's varied portfolio, such as contract farming, greenhouse technology, modern agro farming, aeroponics, hydroponics, organic farming, cold storage, business-to-business (b2b) in agriculture, business-to-consumer retail chains, and exporting.

With a market value of Rs 869 Cr, Spright Agro Ltd. is a small-cap company. Investor confidence was evident on Thursday, as the stock was trading at a 5% upper circuit limit at Rs 8.11 per share. This rally followed the release of the company's financial results for the quarter that ended in December 2024, which showed that net profit increased 28.91% to Rs 7.09 crore in the quarter that ended in December 2024 compared to Rs 5.50 crore in the year-ago quarter. Sales increased 142.11% to Rs 54.91 crore in the quarter ended December 2024 compared to Rs 22.68 crore in Q3FY24.

For the purpose of 1:1 i.e. 1 (One) bonus equity shares of the face value of Re. 1/- each fully paid up for every 1 (One) existing equity shares of face value of Re. 1/- each fully paid up, the company had earlier fixed Friday, 29th Day of November 2024, as the record date subject to the approval of shareholders at the ensuing Extra-ordinary General Meeting of the company, said the Board of Directors of Spright Agro in a stock exchange filing.

In the September 2024 quarter, the company's net sales were Rs 54.03 crore, up 1629.85% from Rs 3.12 crore in the September 2023 quarter. In Q2FY25, its net profit was Rs. 6.96 crore, up 3780.48% from Q2FY24's Rs. 0.18 crore. EBITDA increased 2816.67% from Rs. 0.24 crore in the September 2023 quarter to Rs. 7.00 crore in the September 2024 quarter.

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