Penny stock under Rs 30: Company officially launched a new joint venture with Agribid, under the name AgriMile
The company has a market cap of over Rs 800 crore and the stock is up by 15 per cent from its 52-week low of Rs 20.52 per share.
Last Mile Enterprises Limited (LME), formerly known as Trans Financial Resources Limited, has embarked on a significant new venture through a strategic collaboration with Agribid, a prominent e-marketplace serving over 15 million small and marginal farmers across India. The newly formed entity, AgriMile, aims to revolutionise the agricultural sector by synergising Agribid's extensive grassroots farmer network with LME's diverse expertise in scalable technology, manufacturing, and rural infrastructure. This joint initiative is poised to create a high-impact agri-services ecosystem designed to empower farmers with crucial resources and information.
The AgriMile platform is envisioned as a digital-first solution, providing farmers with reliable and actionable intelligence alongside access to essential agricultural inputs. Leveraging cutting-edge technologies such as satellite services, advanced data analytics, voice-based communication, and a robust physical distribution network, the platform will offer comprehensive agri-support. The initial phase of offerings includes satellite monitoring for real-time crop health insights, hyperlocal weather intelligence for informed planning, portable soil testing devices for nutrient analysis, multilingual communication via SMS, voice, and a dedicated app, and integrated advisory support through a call center.
Looking ahead, AgriMile has ambitious plans for expansion, aiming to become a full-stack agri-services provider. Future offerings are slated to include certified seeds, fertilizers, and crop protection inputs, affordable agri-equipment and tool rentals, digital crop insurance solutions, access to agri-financing and lending services, and direct market linkages for post-harvest solutions. Launched at the Sankalpam 2025 event in Chennai, AgriMile has the potential to create substantial impact, with a reachable market of over 150 million farmers. Even capturing 10% of this market could generate significant recurring revenue while supporting millions of livelihoods with vital agricultural intelligence, ultimately fostering better decision-making, reduced losses, and enhanced long-term resilience for the farming community.
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About the Company
Last Mile Enterprises Limited emerged nearly three decades ago, propelled by a profound principle: to harmonise with the evolving world while leaving an indelible legacy and nurturing a future where embracing cleanliness and sustainability becomes a way of life. LMEL sprouted from a steadfast conviction that sustainability and profitability are not mutually exclusive; rather, they intertwine harmoniously, allowing it to forge enduring value for all those connected to our enterprise.
On Friday, shares of Last Mile Enterprises Ltd plunged 3.94 per cent to Rs 23.63 per share from its previous closing of Rs 24.60 per share. The company has a market cap of over Rs 800 crore and the stock is up by 15 per cent from its 52-week low of Rs 20.52 per share.
Disclaimer: The article is for informational purposes only and not investment advice.