Nath Bio-Genes (India) announced that the Annual General Meeting (AGM) of the company will be held on 24 July 2020.

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Net profit of Nath Bio-Genes (India) rose 38.73% to Rs 7.63 crore in the quarter ended March 2020 as against Rs 5.50 crore during the previous quarter ended March 2019. Sales rose 14.99% to Rs 60.15 crore in the quarter ended March 2020 as against Rs 52.31 crore during the previous quarter ended March 2019.

For the full year,net profit rose 31.36% to Rs 50.48 crore in the year ended March 2020 as against Rs 38.43 crore during the previous year ended March 2019. Sales rose 21.20% to Rs 279.89 crore in the year ended March 2020 as against Rs 230.93 crore during the previous year ended March 2019.

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Nath Bio-Genes (India) will hold a meeting of the Board of Directors of the Company on 15 June 2020.

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The stock has spurted 37.28% in seven trading sessions from its previous closing low of Rs 217.05 posted on 23 April 2020.

Nath Bio-Genes (India) after market hours on Monday (4 May) informed about the internal developments internal of the company. The company has received 92% of the targeted seed production from the fields and it expects to receive the balance 8% by 15 May 2020. It is critical as the Kharif sowing starts around mid June, the company said in a statement.

The company said it has been able to commence operations of all its six plants located in Maharashtra and Telangana. The work relating to processing, packing and quality assurance is in full swing, it said.

The firm added that due to total lockdown in last week of March it has lost some sales and collection, but it would be able to recover the same partially in April and May.

Farmers are affected, but much less compared to other parts of economy. Farmers producing fresh fruits and vegetables did suffer huge losses because they could not bring their produce to markets or were required to sell the produce at distress prices. Rural India is mostly in green zone, hence restrictions were limited. Movement of farmers for agricultural activities was not hampered. More importantly, the forecast for Monsoon 2020 is normal. In addition, government is proactively providing relief to the farmers. As a result, we do see reason for optimism for rural India. This is reflected in record sales of fertilisers by dealers in April, the company said in a statement.

Nath Bio-Genes (India) is engaged in hybrid seed business.

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