ACIL Cotton Industries Ltd said it received an additional 173 acre agriculture land to set up a unique business model of organic contract farming at Surendranagar in Gujarat. No financial details were provided.
The company holds a total of 322 acre of land for cultivation of various crops. It has already started farming in 149 acres of land in same district, ACIL Cotton said in a regulatory filing.
This is the first step by company to cultivate organic harvests as a model called the integrated organic cultivation (IOC), which will guarantee farmers a market-supportive mechanism for selling their produce.
On Monday, ACIL Cotton Industries shares declined 2.1% to Rs35 on Bombay Stock Exchange, while the benchmark Sensex ended 0.2% up at 18,032 points.
Alchemist Ltd said its net profit for the financial year 2010-11 stood at Rs15.6 crore, a rise of 11.4%, as compared to Rs14 crore last fiscal.
During the year to end-March, the Alchemist's net sales increased to Rs396.4 crore, a rise of 2.6%, from Rs386.5 crore, it said in a statement.
On Monday, Alchemist shares declined 0.6% to Rs170 on Bombay Stock Exchange, while the benchmark Sensex gained 0.2% to 18,032 points.
Usher Agro Ltd said its net profit for the June quarter increased to Rs23.5 crore, a growth of about 58%, from Rs14.8 crore in the same quarter last year.
During the June 2010 quarter, its total revenues increased to Rs342 crore, a rise of about 63%, from Rs209 crore, the company said in a regulatory filing.
On Monday, Usher Agro shares closed 1.7% higher at Rs90 on Bombay Stock Exchange, while the benchmark Sensex ended 0.2% up at 18,032 points.