Nirman Agri Genetics Ltd. announced that its board is scheduled to meet on Sept. 30 to mull over some proposals, including a bonus issue, stock split and possible foray into hydroponics and aquaponics, as per an exchange filing on Monday.

The stock split will likely be in the ratio of 1:10 that is, the company will subdivide the existing equity share having face value of Rs 10 per share into a greater number of equity shares in order to improve liquidity and broaden shareholding base.

Issue of bonus shares may follow a similar pattern and ratio, that is of 1:10. Implying that it will issue up to 10 bonus shares for every 1 equity share held, subject to shareholder and other requisite approvals.

Post the announcement, shares of the company hit upper circuit at Rs 172.45 on NSE after rising 5%.

Under India’s T+1 settlement cycle, investors must buy the shares at least one trading day before the record date to be eligible. This means that purchases made on the record date itself will not reflect in the demat account in time.

To address rising demand for sustainable, water-efficient agriculture and pesticide-free produce, the board will consider a strategic expansion into hydroponics and aquaponics, the filing stated.

With India needing high-yield, low-water approaches, this move would enable the company to leverage its R&D strengths, capture premium margins, and tap both domestic and export opportunities in fresh produce, herbs, and specialty crops, it added.

“These proposals are designed not only to enhance shareholder value and increase our shares’ appeal in the market, but also to modernize our operations by aligning them with cutting-edge agricultural technologies,” Managing Director Pranav Kailas Bagal said.

For FY24-25, the company reported revenue from operations of Rs 236.51 crore with Y-o-Y growth of 273%, and net profit of Rs 25.28 crore.

The shares of the company closed 4.99% high at Rs 172.45 apiece.