Penny Stock Under Re 1: Agriculture Goods Company Secures Rs 113 Crore Supply Order from Heera Merchants

Harshil Agrotech Limited has announced that it has received a significant work order valued at Rs 113 crore from Heera Merchants. The order, disclosed in a regulatory filing with the BSE Limited, is for the supply of various grains and vegetables. The company expects this contract to contribute meaningfully to its near-term revenues and align with its core business of trading and processing agricultural products. The total order value of Rs 113 crore is before any applicable taxes.

The order has been placed by Heera Merchants, an unrelated party. Harshil Agrotech clarified that neither the company’s promoters nor any group companies hold any interest in Heera Merchants. The supply contract includes a range of agricultural goods, specifically Grade-A Wheat, Potato, Onion, Hybrid Tomatoes, Fresh Green Chilli, and a mix of Brinjal and Capsicum.

Under the agreement, Harshil Agrotech is required to complete delivery within 45 days from the date of the work order. Deliveries will be made in mutually agreed-upon tranches. The goods are to be delivered to the Ahmedabad APMC and other buyer-designated warehouses and cold storage facilities. The company will manage packing, transport, and a mandatory cold chain for perishable items. The final quantity and quality of goods will be confirmed at the buyer's weighbridge and through quality control inspections.

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The commercial terms specify a 30 per cent advance payment within seven days of work order confirmation. The remaining 70 per cent will be paid against delivery and inspection of the goods via RTGS/NEFT. The agreement also includes standard clauses covering adherence to APMC and FSSAI quality norms, provisions for rejection and replacement of goods, liquidated damages for delays, and an arbitration clause with jurisdiction in Ahmedabad.

Harshil Agrotech Limited, formerly known as Mirch Technologies (India) Limited, is a company specialising in industrial design and fabrication. Their expertise spans a wide range of industries, including fertilisers, chemicals, petrochemicals, power plants, fibres, cements, steel plants, pharmaceuticals, dyes and intermediates, paper & pulp.

The company has a market cap of Rs 61 crore. The stock is trading at its 52-week low.

Disclaimer: The article is for informational purposes only and not investment advice.