White Organic receives international order
White Organic Agro Limited announced the receipt of a direct export order of Long Grain Crème Sella Rice to Rebat Al Houda Trading Est, Dammam, Saudi Arabia. This would be the company’s first order in the international market.
Developments such as this order will expand the company's business horizon to the vast international market. At the initial stages, the company has received a contract of 600 MT Long Grain Crème Sella Rice. The total revenue expected from the current rice contract would be approx 2.5 crore per cycle. The initial scalability of the business of rice in the international market is approx Rs. 500 million. In addition to the current business activities of the company, the revenue expected from Organic Rice business would be approx Rs. 500 million, annually.
The stock reacted positively to this development and touched an intraday high of Rs. 69.80 per share on BSE. It ended Wednesday’s trading session at an unchanged price of Rs. 68.85 per share while the benchmark index BSE Sensex ended 629 points higher at 35,779.