Meanwhile, Prime Fresh Limited has signed a Memorandum of Understanding (MoU) with the Government of Uttarakhand.
Stock Market News: Shares of Prime Fresh Limited were up by 1.27 per cent and traded at Rs 319. However, it lost early gains and settled at Rs 302.55 at the end of the session. The shares of the company, with a market cap of around Rs 378 crore, have given a bumper return of over 500 per cent to investors in the last two years.
Meanwhile, Prime Fresh Limited has signed a Memorandum of Understanding (MoU) with the Government of Uttarakhand. The company will invest up to Rs 40 crore in Uttarakhand over the next five years, as part of the agreement. Prime Fresh Limited is a leading player in the national fruits and vegetable supply chain management sector,
“…propose to Invest Rs.33-40 Cr in the State of Uttarakhand over the coming 5 years to establish various value chain, end to end Agri-Business Operations related projects such as farming, rural ecosystems development, etc.” the company said.
The company has further added that it is working on various initiatives and new projects in the fruits and vegetables supply chain business. “Working on various initiatives and new projects in fruits and vegetables supply chain business. From agriculture inputs selling, farming, post harvest management to market linkages & Food processing, value additions and Direct to Consumer projects,” it said.
Meanwhile, the company announced unaudited Financial Results for the half-year ended on 30 September 2023. According to the company, its revenue from operations surged by 44.81 per cent from Rs 4339.60 lakh in H1FY23 to Rs 6284.03 lakh in H1FY24.
Also, its EBITDA increased by 21.69 per cent from Rs 342.63 lakh in H1FY23 to Rs 416.93 lakh in H1FY24.