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This Don Agri, (a Russian Agricultural) is actually a good company but is affected by Russia/Ukriane war. Its very unfortunate! Expecting 1st financial loss since listed here.
PROFIT WARNING FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022
PROFIT WARNING FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022
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Don Agro reports 23.2% growth in wheat harvest to record high
DON Agro has achieved an all-time high of 89,107 tonnes for its 2022 winter wheat harvest - up by 16,807 tonnes or 23.2 per cent from the previous year and 37.3 per cent higher than that of 2020.
The bulk of the 2022 harvest (75,321 tonnes) was produced in the Rostov region followed by the Volgograd region at 13,786 tonnes, announced the Russia-based agriculture company in its press statement on Thursday (Sep 8).
The winter wheat yield produced in the Rostov region was 3.75 tonnes. Citing public reports by the local district authority, Don Agro said this was 0.4 tonne more than the average rate achieved by other agricultural companies in the same area.
The group highlighted that it also increased its planted acreage of winter wheat by 4.7 per cent to 25,157 hectares (ha) from 24,032 ha in 2021.
Some 180 vehicles, including 58 grain harvesters, were deployed for this year&rsquo s harvest.
Don Agro&rsquo s chief executive Marat Devlet-Kildeyev partially attributes 2022&rsquo s record-high harvest volumes to the group&rsquo s investment in high-quality fertilisers and the purchase of 6 new harvesters, which reduced spoilage.
&ldquo We intend to continue upgrading our equipment in our efforts to raise our production level by the year,&rdquo he added.
Don Agro International expects all-time high harvest in 2022
Agricultural company Don Agro International is expecting a new all-time high harvest in 2022, with larger planted area and the trend in growing yields.
In 2021, Don Agro harvested 72,300 tonnes of winter wheat &mdash an 11.3% improvement over 2020.
A significant part of 2021&rsquo s harvest was sold at the beginning of 2022, when wheat prices touched a 14-year peak. As such, the company expects to perform well in the FY ending December 31, 2022, in line with rising wheat prices and higher crop yield.
To accommodate the world&rsquo s rising demand for grain, Don Agro had increased the acreage for winter wheat from 24,032 hectares to 25,157 hectares.
It is also planning to harvest organic crops from 44 hectares of land this year, 4 times the pleated area allocated for its pilot project for organic wheat cultivation.
Don Agro chief agronomist Ivan Kalaytanov said the company is satisfied with the yields of organic wheat harvested last year and will continue to explore the growth potential of organic wheat.
&ldquo In accordance with the requirements for certified organic produce, we do not apply mineral fertilisers, herbicides and pesticides to the land. The growth of weeds is controlled by harrowing which involves the physical uprooting of weeds.
&ldquo In two years, we will be able to obtain an official organic certification of our wheat as per the existing rules and regulations of the relevant governing authorities,&rdquo he added.
Plans are also underway for the company to install solar panels to increase its sustainable energy usage. This year, Don Agro plans to install a solar power plan with a total capacity of 30kW on its territory.
Don Agro' s external sanction counsel confirms no violation of sanctions arising from Russia invasion
RUSSIA-BASED Don Agro $ Don Agro: GRQ 0% stated that its external sanctions counsel has confirmed that the group, including its associated companies, does not have activities that are prohibited transactions under the recently imposed sanctions arising from Russia invasion of Ukraine.
In its additional statement it furnished to allay the concerns of the Singapore Exchange, the agricultural company said on Sunday (Mar 13) that no member of the group and none of its substantial shareholders, directors or executive officers are being sanctioned by Singapore, the United States, the United Kingdom, the United Nations, the European Union and Australia.
Also, neither its directors nor its shareholders and key officers are acting on the direction of Russia, its government, or the Russian central bank. There is no business or other relationship ongoing with any sanctioned entities, sanctioned individuals or the Russian government that will likely give rise to findings of sanctions violations by Singapore and other jurisdictions mentioned earlier.
Don Agro engages in the cultivation of agricultural crops and production of raw milk in Russia.
Putin' s special military operation turns spotlight on a tiny Catalist-listed agricultural company
Investors are not just doubting Don Agro' s ability to cope with the turmoil, but worry that entities to which it is exposed might suddenly come to grief
DON Agro International could be on the brink of delivering exciting returns to its shareholders or losing a great deal of its value. Much depends on what happens in Russia in the weeks and months ahead.
On the one hand, the Catalist-listed company that cultivates agricultural crops and produces raw milk appears to be positioned to benefit from rising food commodity prices as well as the increasing value of arable land.
On the other hand, the global opprobrium and economic sanctions that Russia has brought on itself by invading Ukraine create a great deal of uncertainty for Don Agro' s shareholders - which is unlikely to be completely dispelled by even the most detailed of disclosures by the company.
Yet, as the old adage goes, there is no such thing as bad publicity. If Don Agro manages to thrive as it seems to be expecting despite the geopolitical turmoil sparked by the war in Ukraine, the scrutiny it is currently attracting might eventually translate to a wider investor following.
On Mar 1, just over a week after Vladimir Putin began his " special military operation" in Ukraine, Don Agro reported its financial results for FY2021 ended Dec 31 and put out an accompanying statement declaring that it has not been affected by " the current geopolitical situation" .
Don Agro said its crops and milk are sold directly to traders in Russia, and that all the raw materials it needs continue to be available.
It added that a major part of its finished goods inventory as at Dec 31 has since been sold to grain traders and exporters. While the company receives Russian roubles in these transactions, prices are determined by international commodities exchanges.
Don Agro also said it has not been affected by soaring interest rates in Russia since the invasion began, because interest rates on its existing borrowings are fixed.
The company went on to say that it held cash and cash equivalents totalling S$7.3 million as at Mar 1, which is more than sufficient to redeem all its borrowings of S$3.5 million and continue its operations.
Most crucially, Don Agro said none of its units or officials are on the sanctions lists of the United States, the European Union or the United Nations. While the company does have dealings with companies on the US and EU sanctions lists - including Gazprom, Rosneft, Sberbank and Lukoil - these transactions are not prohibited and in line with its " sanctions compliance policy" .
SGX queries
While Don Agro ought to be commended for making these disclosures, it should arguably have gone much further.
Don Agro should have realised that investors are not just doubting its ability to cope with the turmoil sparked by Russia' s invasion of Ukraine. Many investors are also likely to be worried that companies to which Don Agro is exposed might suddenly come to grief.
On Mar 2, almost immediately after Don Agro put out its statement, Singapore Exchange (SGX) asked for more information - including the nature and extent of Don Agro' s dealings with sanctioned Russian companies.
On Mar 4, in response to SGX' s queries, Don Agro said Rosneft and Lukoil supply it with fuel for its agricultural and transport machinery. Gazprom supplies it with gas for heating purposes, and services its gas equipment.
Gazprom apparently also leases land from Don Agro in order to conduct repair works for a local gas pipeline.
As for its relationship with Russian banks, Don Agro said Sberbank is the only financial institution providing it with loans while 70.7 per cent of its cash and cash equivalents as at Dec 31 were held with Rosselkhozbank.
Don Agro included a table with its response to SGX that showed its dealings with all of these Russian companies in FY2021 - down to transactions worth as little as 77,000 roubles (about S$1,000).
Blessing in disguise?
Even with all the additional information Don Agro has provided, the dynamic situation in Russia is likely to keep many investors in Singapore on the sidelines.
Yet, the scrutiny the company is attracting because of the turmoil might turn out to be a blessing in disguise.
Listed on Catalist only in February 2020 following a placement of 23 million shares at S$0.22 each, Don Agro has not really drawn much interest from investors.
Its headline financial numbers for FY2021 probably did little to change this.
Revenue slipped 0.3 per cent to S$30.9 million. Net profit increased 18.4 per cent to S$10.3 million - but this was due largely to the impact of the purchase of a subsidiary at less than book value during FY2021, and the absence of listing expenses chalked up in FY2020.
Moreover, Don Agro' s board did not recommend a final dividend for FY2021 in order to conserve liquidity. The company paid an interim dividend for FY2021 of nearly S$0.00852 per share. For FY2020, the company paid a dividend of S$0.01157 per share.
The company' s commentary on its financial numbers casts a more positive light on its performance though.
Don Agro said revenue was flat largely because a " significant portion of harvested crops" was not sold in FY2021, in expectation of higher prices in FY2022.
The company said higher grain prices and milk prices will have " a significant impact" on its profit margins in FY2022.
Don Agro also benefited from a steep revaluation of its land - from a historical carrying value of S$5.8 million to S$26.8 million. The company' s net asset value (NAV) stood at nearly S$0.45 per share as at end-2021, up from nearly S$0.29 per share as at end-2020.
Since Russian tanks began rolling into Ukraine last month, shares in Don Agro have tumbled nearly 22 per cent. The stock closed Friday (Mar 11) at S$0.305.
Don Agro currently has a market capitalisation of just S$45.8 million - which is less than 4.5 times its reported earnings for FY2021.
If the company survives the current turmoil and manages to deliver higher earnings in FY2022 and beyond, its stock could be primed for a rally when the gunfire stops.
Russia-based Don Agro to provide external legal opinion on implication of sanctions
RUSSIA-BASED agriculture company Don Agro International said it is working closely with its external sanctions counsel to procure a legal opinion on the implications of the latest imposition of sanctions and current geopolitical situation, the company said late on Friday (March 4).
In a bourse filing responding to queries from the Singapore Exchange (SGX), Don Agro added it will provide an update announcement on SGXNet " as soon as practicable" once the external sanctions counsel' s opinion has been obtained.
It noted that its external sanctions counsel had reviewed and confirmed that the group is in compliance with its sanction compliance policy for the fourth quarter ended December 2021.
Don Agro - an agricultural company engaged in the cultivation of agricultural crops and production of raw milk in Russia - had also provided its own confirmation regarding sanctions compliance arising from new sanctions being imposed following the Russia-Ukraine conflict in a March 1 press release.
It had stated in its press release that none of the group, its subsidiaries, associated companies, substantial shareholders, directors or executive officers are listed on the global sanction lists or have been engaged in any sanctioned activities.
While subsidiaries are dealing with sanctioned entities listed in US sanctions lists and EU sanctions lists - including Gazprom Group, Rosneft Group, Sberbank Group and Lukoil Group - Don Agro had said these are relating to transactions which are not in the lists of prohibited and/or restricted transactions of relevant sanctions. It added that all these transactions with the mentioned entities are in compliance with the company' s sanctions compliance policy.
Don Agro provided further details on Friday - in its response to SGX - of its dealings with sanctioned entities, and said it considers its dealings with Sberbank and Rosselkhozbank " significant" .
Sberbank is the only financial institution providing loans to the group currently, and Don Agro received loans of 365.9 million roubles (S$6.7 million) last year. Meanwhile, its deposits placed with Rosselkhozbank amounted to 266.4 million roubles, making up 70.7 per cent of the group' s total cash and cash equivalents as at Dec 31, 2021.
However, Don Agro said, it will be able to replace and refinance its placed deposit and existing loans with other banks, if required. It added that its current available cash and cash equivalents are " sufficient to fully redeem all existing loans, if required, and the group is able to continue to finance its operations without seeking new loans" .
Don Agro' s dealings with the Rosneft Group and Lukoil Group involve the supply of fuels for transport and agricultural machinery to the company' s subsidiaries. The cost of fuel purchased from these entities was around 3.5 per cent of the group' s total cost of sales in FY2021.
The dealings with Gazprom Group include obtaining gas for heating office and manufacturing premises of the company' s subsidiaries.
later Cheong how?
Stocksguru ( Date: 03-Mar-2022 17:51) Posted:
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Later suspended how?
ozone2002 ( Date: 03-Mar-2022 17:43) Posted:
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Time to scoop up Russia etf
depressed like nobody' s biz
sure bounce back once war is over
depressed like nobody' s biz
sure bounce back once war is over
Don Agro looks to optimise crop production through pilot with Russia-based pharmaceutical company Smart Polygraph
Agricultural company Don Agro International has joined hands with Smart Polymorph Technologies to launch a pilot project focused to optimise crop production using pharmaceutical innovations.Headquartered in Moscow' s high-tech Skolkovo Innovation Center, Smart Polymorph Technologies specialises in developing new, improved and patentable forms of pharmaceutical substances.
As part of this programme, both companies will work towards enhancing crop production yields while minimising costs through well-known plant growth bio stimulants that have been modified into new crystalline and amorphous forms via the latter' s polymorphic modification technology.
Don Agro has earmarked experimental plots totaling 50 hectares to support this research.
The project will involve three different crops - winter wheat, corn and sunflower - which will be used as a test bed for the application of the new growth bio-simulator.
The latest initiative is part of the group' s ongoing efforts to introduce modern farming techniques and adopt new technologies, says Marat Devlet-Kildeyev, CEO of Don Agro.
" Supported by our renowned partner in Smart Polymorph Technologies, we are confident that this initiative will reinforce our position as one of the leading innovators in the agricultural sector," he adds.
Pharmaceutical drugs developed by Smart Polymorph has apparently displayed higher therapeutic effect as compared to alternatives present in the market.
" Smart Polymorph harnesses a unique technology in polymorphic modification of organic substances that is suitable and can be applied to a wide variety of medicines and bioactive substances used in the agro- industrial complex." , explains Yakovlev Ruslan, the company' s director of science.
He believes the same technology can be applied to the agricultural sector to enhance the effectiveness of plant growth stimulants, pesticides and other related substances."
Shares in Don Agro closed down 2.5 cents or 6.67% at 35 cents on Sep 29, before the announcement.
Illiquid stock
Useless
Useless
KGI Report Tgt 64 cents
https://www.kgieworld.sg/research/don-agro-international/
Good results expected to be announced this weekend. Market laggard.
KGI recent report target 64 cents. Report at Nextinsight.
Don Agro takes over rival Rav Agro Rost for $2.7 mil
Don Agro International has acquired rival company Rav Agro Rost for about $2.7 million.This comes after the Russian wheat and milk producer signed a sale and purchase agreement on July 9.
The transaction was paid using internal funds.
Rav Agro Rost is an agricultural company that focuses on both crop and milk production.
It owns a landbank of about 10,131.3 acres and 177 dairy cows.
The acquisition has expanded Don Agro' s total landbank by 6.5% to 166,400.8 acres.
According to Don Agro, the acquisition is expected to yield operational synergies as Rav Agro Rost' s landbanks have common borders with its main operating division in the Millerovo District.
Moreover, Rav Agro Rost' s dairy segment sells its milk to the same milk processing customer of the company.
Overall, the potential synergies from this acquisition include better procurement terms due to economies of scale, adds Don Agro.
" Our latest acquisition of Rav Agro Rost is in line with our strategic direction to grow our controlled landbank, such that we are able to meet the increasing global demand for agricultural and dairy products and ultimately capture growth in new markets," Don Agro CEO Marat Devlet-Kildeyev says in a July 28 statement.
On July 28, Don Agro ended down 0.5 cent or 1.2% at 40 cents with 5.2 million shares changed hands.
| Bid Vol | Bid |
|---|---|
| 63,500 | 0.420 |
| 80,000 | 0.415 |
| 97,000 | 0.410 |
| 35,000 | 0.405 |
| 28,000 | 0.400 |
| 1,000 | 0.350 |
| 10,000 | 0.330 |
| 1,000 | 0.320 |
| 500 | 0.300 |
| Ask | Ask Vol |
|---|---|
| 0.425 | 49,700 |
| 0.430 | 65,000 |
| 0.435 | 56,000 |
| 0.440 | 62,500 |
| 0.450 | 22,500 |
If no more sellers, then maybe later got chance to move up liao.
Slow and steady till to result announcement.
Slow and steady till to result announcement.
superstartup ( Date: 26-Jul-2021 13:09) Posted:
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Half-day volume exceeded whole of last Fri.
N price up.
Looks good.
N price up.
Looks good.
I like this one. Been watching for a while
New week Don Agro expected to hit new high. Lots of potential to KGI's target of 64.
Good 👍 ..... Load while still early 40s.....
PhillipTan ( Date: 23-Jul-2021 20:10) Posted:
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