Mumbai (Maharashtra) [India], Might 15: Mumbai based mostly BSE listed firm Growington Ventures India Restricted (BSE – 539222) promoted by CA Vikram Bajaj aims for a strong growth momentum within the time to come back. Firm has posted wonderful outcomes for the Q3 & 9 months of FY24 ended December 2023 is predicted to proceed the growth momentum going forward.
Highlights:-
• In November 2023, Firm was migrated to important board of BSE Ltd from SME Platform of BSE.
• Firm has sub-divided fairness share with Rs. 10 face worth in to 10 shares of Rs. 1 face worth
• Firm has just lately integrated a wholly owned subsidiary – Elementures Foodstuff Buying and selling L.L.C, Dubai, U.A.E.
• Firm is engaged within the enterprise of provide chain from import of Contemporary Fruits and distribution to company in hospitality and E-commerce with model named as “GROWFAMIO”
For 9 months of FY24, firm posted complete income of Rs. 23.81 crore, 163% growth Y-o-Y as in comparison with income of Rs. 9.04 crore in 9 months of FY23. Web Revenue throughout 9 months of FY24 surged 328% to Rs. 1.75 crore as in opposition to internet revenue of Rs. 40.88 lakh within the corresponding interval final yr.
In November 2023, Firm was migrated to important board of BSE Ltd from SME Platform of BSE. Firm additionally obtained the shareholders’ approval for the identical. Firm within the board assembly dated July 15 had permitted the migration of itemizing/buying and selling of fairness shares of the corporate from SME platform of BSE to important board of BSE Ltd. The decision was handed via postal poll by the shareholders.
Firm has sub-divided its fairness share having face worth of Rs. 10 every, absolutely paid-up into 10 fairness shares having face worth of Rs. 1 every absolutely paid-up, as permitted by the shareholders via Postal Poll on January 17, 2024. Firm had mounted January 31, 2024 because the File Date for the inventory cut up.
Growington Ventures Ltd is engaged within the enterprise of provide chain from import of Contemporary Fruits and distribution to company in hospitality and E-commerce. The Firm is skilled managed with the imaginative and prescient to serves the contemporary fruits in pan India market by sourcing of fruits from farms with tie up in Turkey, Vietnam, South Africa, Greece, Chile and so on. Firm’s USP is to supply the contemporary fruits from farm with high quality examine with worldwide commonplace packaging and fast logistic facility to ship best of high quality fruits to valued clients. We’ve developed the goodwill and model for high quality fruits. The Firm has established a model named as “GROWFAMIO”.
Firm has large portfolio of fruits like Apple, Orange, Mandarin, Pear, Kiwi, Dragon Fruit, Avocado, Purple Globe Grapes, Plum, Nectarines, Peaches, Cherries, Blueberries, Grape Fruit, Mangosteen, Ram Bhutan, Longan, Dates, Tamarind, Dates and so forth. Contemplating the well being consciousness and life model of Indian public, demand for number of imported fruits has elevated comparable to avocado, blueberry & dragon fruits. Firm has created a extremely Competent, Strong Procurement & Distribution Help workforce inside and out of doors the India.
Firm within the present monetary yr has integrated a wholly owned subsidiary – Elementures Foodstuff Buying and selling L.L.C, Dubai, U.A.E. Firm is engaged in sourcing of contemporary fruits from Turkey, Vietnam and South Africa, has made association and tie up with agri Commodity Firm based mostly in Vietnam for common provide of Dragon fruits, Coconut, Guava, Lime and different agri product from 1st quarter of Calendar yr 2024.
Firm has tied up with Vietnam & Turkey based mostly firm to supply contemporary fruits on long run foundation. It’s also planning on doing a long-term enterprise in Joint Enterprise with Firm of Vietnam. It has developed the common clients in India to supply common provide in Wholesale Market, Retail Shops, Motels, Chain of Restaurant and on-line distributors of contemporary fruits.
Contemplating the growth in enterprise, administration has plans for enterprise growth by having leased chilly storage facility and establishing of Fruit Processing and Packaging nearin MIDC, Navi Mumbai. It has plans to grow to be provide chain companion to cater firm like Reliance, Massive Basket, Godrej Contemporary, Extra, Amazon and others for fruits, spices powder below personal model identify.
For the FY23, firm has reported multi-fold growth within the enterprise. Gross sales for FY23 grew to Rs. 19.63 crore as in comparison with gross sales of Rs. 1.23 crore in FY22. Firm earned internet revenue of Rs. 1.26 crore as in comparison with lack of Rs. 3 lakh in FY22. Firm has carried out nicely submit covid and in addition declared bonus shares (24:100) in March 2023.
In January 2024, Firm has issued the decision and has given his consent to its Debtor Yaduka Agrotech Non-public Restricted for the Scheme of Amalgamation of Yaduka Agrotech Non-public Restricted with Deboshmita Constructions Non-public Restricted, Fastwheel Roadlines Non-public Restricted, Forward Carriers Non-public Restricted, Srijita Constructions Non-public Restricted, Karunanjali Transports Non-public Ltd.
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