White Organic Agro reports stellar Q3FY19 numbers
White Organic Agro, an organic agro product company, reported stellar quarterly performance in Q3FY19. The company’s revenue grew almost 90 per cent.
The company’s revenue for the third quarter of FY19 jumped to Rs. 91.4 crore from Rs. 48.1 crore in corresponding quarter of previous year, representing an impressive growth of almost 90 per cent. This stellar revenue performance was led by an increase in exports and a strong boost in Rice, Aloe Vera, Moringa and other product segments.
The company’s EBITDA for the quarter stood at Rs. 5.6 crore as compared to Rs. 3.5 crore in the same quarter of previous year, this represents a growth of around 61.3 per cent. This was on account of higher revenue, and traction in premium organic products and improving operational efficiencies.
The company's net profit during the quarter surged nearly 56.2 per cent yoy to Rs. 5.6 crore.
Recently, the company has bagged an export contract for long grain crème sella rice from Saudi Arabia. The contract size is about 600 MT and the total revenue expected from this current rice contract would be around Rs. 50 crore in addition to the current business.
The company’s board of directors have approved the issue of bonus equity shares to its shareholders in the ratio of 1:1 each fully paid up of Rs. 10, this will be subject to shareholder’s approval.