Franklin Industries Ltd foray in to Contract Farming Business

Gujarat based Franklin Industries Ltd, engaged in the trading of agriculture commodities has announced its strategic initiative to diversify its business operation in to the domain of contract farming business. As per the release, the decision comes as part of its continuous efforts to enhance the company's performance and drive sustained growth. Company expects, the strategic expansion will not only strengthen our market position but also add value to our shareholders by creating new avenues for growth and profitability.

Company at the board meeting held on 27 November has recommended Sub-Division of 1 (one) Equity Share of face value of Rs. 10 each fully paid up into 1 equity Shares of Rs. 1each fully paid up, resulting in issuance 10 Equity Shares of Rs. 1each fully paid up, thereby keeping the paid up capital intact subject to the approval of the Members in the ensuing Extra Ordinary General Meeting.  The Board has decided to held the Extra Ordinary General Meeting of the Company as on 28 December, 2023.

Contract farming offers significant potential for expansion and innovation within its business framework. This initiative aligns with the company’s vision to optimize agricultural practices, leverage technological advancements, and establish mutually beneficial partnerships with local farmers and agricultural stakeholders. Company believes that this strategic expansion will not only strengthen our market position but also add value to our shareholders by creating new avenues for growth and profitability.”