Anmol India Board Approves Fund Raising From QIBs, Plans For Organic & Inorganic Growth Over Next 5 Years

Anmol India Ltd. (BSE: 542437, NSE: ANMOL), one of the leading players in the supply chain management industry, Commodity Trading, and Coal Import, has approved raising funds from QIBs for meeting working capital requirements and acquisitions, as the company plans for various avenues for the growth of the Company, organically and inorganically, for next five years.

Earlier, unaudited Financial Results of the Company for the Quarter and Half Year ended on 30 September 2023 were announced. For the quarter ended 30 September 2023, Revenue from Operations grew by 63.95% from Rs. 130.64 Cr in Q2FY23 to Rs. 214.19 Cr in Q2FY24 primarily driven by an increase in volume, the impact of trade of the new commodities, upgradation of technology by the implementation of a new version of "ANMOL" app and execution of strategies of a strategic committee formed earlier. EBITDA increased by 98.79% from Rs. 4.97 Cr in Q2FY23 to Rs. 9.88 Cr in Q2FY24. EBITDA margins increased from 3.76% in Q2FY23 to 4.56% in Q2FY24 by 80 bps. PAT increased by 70.05 % from Rs. 1.97 Cr in Q2FY23 to Rs. 3.35 Cr in Q2FY24. PAT margins increased from 1.49% in Q2FY23 to 1.55% in Q2FY24 by 6 bps.

Commenting on the Q2FY24 Performance, Management added, "Our Q2FY24 results stand as a testament to our dedication and strategic approach. Looking ahead, Anmol India Ltd is embarking on a strategic journey to further enhance our business operations through technology-driven solutions. Our Anmol Coal Mobile app, which has recently undergone significant updates, has received positive feedback from our users. The introduction of features such as price discovery, bidding, and deep links has significantly improved client engagement.

We are resolute in our vision to build upon this success and further integrate technology into our supply chain management system. Our goal is to create a seamless and more efficient system that harnesses technology to its fullest potential, ultimately delivering a superior experience to our customers. This approach aligns perfectly with our commitment to remain at the forefront of innovation in the commodity trade industry, ensuring that we continue to meet and exceed the evolving needs of our valued clientele."

With 37 years of expertise in the coal industry, Shri Vijay Goyal is the CEO of Anmol India. Mr. Chakshu Goyal, an ISB alumnus, recently joined the board of directors and has since started a number of digital initiatives to guide the company's growth.

With an impressive development trajectory since its founding, Anmol has established a respectable position in the supply chain management, commodity trading, and coal import industries. As per a regulatory filing, the company is aiming for strategic diversification, including portfolio and demographic diversification, to augment sales and yield the strategic benefits of geographical diversification, flexibility, adaptability, and enhanced negotiating power.

On Monday, the shares of Anmol India were trading 0.38% higher at Rs 65.40 apiece during the morning deals. Last week, the scrip reached a fresh 52-week-high at Rs 68.00 on (14/12/2023). The stock clocked a 52-week-low at Rs 24.23 on (09/01/2023).