Nova Agritech shares have been on an uptrend after hitting the primary and secondary markets. Nova Agritech IPO was launched in January 2024 at ₹39 to ₹41 per equity share. The public issue was proposed for listing on BSE and NSE. The public issue listed on BSE and NSE on 31st January 2024 at a bumper premium of 35 per cent, and the stock continued attracting bulls’ attention after this bumper listing. After a solid debut on Dalal Street, Nova Agritech’s share price touched an all-time high of ₹77.20 apiece on NSE. However, the stock retraced from this record high in the recent sell-off. Today, Nova Agritech’s share price witnessed strong buying as the stock opened with an upside gap and touched an intraday high of 64.29 per share, logging an intraday gain of around 16 per cent. While climbing to this intraday high, the small-cap stock surged around 55 percent against the upper price band of the Nova Agritech IPO. This growth can be attributed to the company’s innovative products and successful marketing strategies, which have helped it gain a competitive edge in the market.
Nova Agritech Q4 results 2024
The small-cap company declared its fourth quarter results for the financial year 2023-24 at the end of May 2024. In this Q4 results 2024, Nova Agritech declared a total income of ₹57.55 crore in the fourth quarter of the FY24, which was a substantial increase from ₹50.72 crore in Q3FY24. This represents a quarter-on-quarter (QoQ) rise of around 13.50 percent in the company’s total income. Comparatively, in Q4FY23, the company’s total income was ₹36.16 crore, indicating a year-on-year (YoY) growth of around 60 percent in the company’s total income in Q4FY24. This significant increase in total income reassures the audience about Nova Agritech’s financial stability and growth potential.
The company’s net profit in Q4FY24 stood at ₹7.88 crore, a significant increase from ₹4.85 crore in Q3FY24 and ₹3.21 crore in Q4FY23. This indicates that the company has registered growth in profit both QoQ and YoY. In QoQ terms, the company posted a 62.50 percent rise in net profit, while its net profit grew 145 percent YoY. These robust financial results not only demonstrate Nova Agritech’s healthy financial position but also underscore its potential for further growth, instilling optimism and confidence in its future performance.
So, if an allottee had remained committed to the long term, the absolute value of one’s investment in this BSE, NSE-listed stock would have grown to the tune of 55 percent. This means that investors who held onto their shares despite the stock’s fluctuations would have seen a significant increase in the value of their investment, indicating the potential for high returns in the long term.
Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 10 Jun 2024, 02:18 PM IST
