Stock Market Today: Penny stock below ₹2, Murae Organisor, hit the 5% upper circuit during the intraday trade on Friday after the announcement of the March quarter results.
Murae Organisor reported a revenue of ₹85 crore and a net profit of ₹7.5 crore for the financial year 2024-25 (FY25). The company also highlighted its plans to expand into distilleries with an investment of ₹250 million.
The revenue was significantly higher compared with FY24, when the company's topline was just ₹0.25 crore. A strong profit recovery was shown by the full-year net profit, which was ₹7.51 crore as opposed to ₹5.31 lakh the year before.
The net profit for Q4FY25 stood at ₹2.85 crore compared to ₹1.16 crore in the year-ago quarter, highlighting a steady performance. A significant increase in trade receivables and cash positions was also evident in Murae's financials, indicating a growth in the scope and size of operations.
The company has previously announced its intention to purchase farmland in Gujarat's strategically significant Kutch region. The company's focus to expand into the industrial and agricultural sectors is demonstrated by its acquisition plans.
The projected investment for the planned acquisition ranges from ₹20 crore to ₹25 crore. Comprehensive due diligence procedures, as well as the necessary statutory and regulatory certifications, are prerequisites for this project.
Utilising Kutch's favourable agroclimatic conditions—which are known for their high yield and high-quality horticulture—the company plans to use the acquired area largely for the cultivation of premium-quality pomegranates.
Furthermore, the small-cap compntends to construct a distillery on the purchased property, greatly expanding its operational capabilities and improving its range of products.
Penny stock below ₹2, Murae Organisor share price, opened at ₹1.40 on the BSE on Friday, more than 4% higher compared to the previous day's close of ₹1.35. Murae Organisor share price thereafter gained to ₹1.41, hitting the 5% upper circuit limit.
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