Nirman Agri reports 16% rise in bottomline in September quarter amid robust sale

India's agriculture sector has been witnessing robust growth with an average annual growth rate of nearly 4.5 per cent over the last six years, according to PIB data. Several agritech companies are at play, solving supply chain inefficiencies and boosting income for farmers. The government's relentless focus on research and development in agricultural innovation coupled with modernisation and mechanisation has increased the output and added significantly to the economy.

Nirman Agri Genetics, an agri-input company, has said that it posted decent growth in the second quarter that ended on September 30. Its net profit jumped 16 per cent on a year-on-year basis to Rs 2.11 crore. It had clocked a bottomline of Rs 1.81 crore in the same quarter of the previous year. The topline in the quarter jumped more than 17 per cent to 12.95 crore.

Earlier, it had announced a collaboration with Toshan Seeds as a part of the move to increase product offerings and expand the market reach. 

The latest collaboration will help it to diversify its product portfolio spanning crops like corn, sunflower, cotton, paddy and more, it said.

Incorporated in 2020, Nirman Agri is engaged in the specialised business of production, processing and marketing of hybrid seeds, pesticides, bio-organic products and more. Its equity shares were listed at the bourses in March this year. 

In the Budget this year, the government had announced many key provisions for agriculture and farmers' welfare. Out of Rs 1.25 lakh crore allocated to the Ministry of Agriculture and Farmers Welfare in the Budget, a provision of Rs 60,000 crore was made for the Modi government's ambitious scheme the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan).

Notably, the Modi government has been emphasizing on promoting the modernization of the agriculture sector by linking agriculture with technology so that farmers get comprehensive benefits in the long run.