Most Strategic Ways to Accelerate Your Investment: India Globalization Capital, Inc. (NYSE:IGC)

India Globalization Capital, Inc. (NYSE:IGC) moved with change of -0.61% to $1.6400 with the total traded volume of 1,398,555 shares in recent session versus to an average volume of 1,710,120. After opening the first trading session at $1.6800, it registered a day’s high of $1.8091 and touched a day’s low of $1.6200.
India Globalization Capital, Inc. (IGC) announces its financial results for the Fiscal Year Ended March 31, 2019.

Fiscal 2019 revenue was about $5.12M contrast to about $2.19M for Fiscal 2018. In both years, revenue was primarily derived from our India based Infrastructure Business which consists of a) rental of heavy equipment; b) execution of construction contracts; and c) the sale of infrastructure commodities.

During the two last weeks of Fiscal 2019, sales commenced in the Plant and Cannabinoid Business. Specifically, on March 22, 2019, the Company began offering hemp-based cannaofferiol (CBD) under the brand Holi HempTM and that contributed $25 thousand to total revenue. On March 27, 2019 HyalolexTM, the Company’s flagship product for helping improve the quality of life for elderly patients suffering from Alzheimer’s, became accessible through select dispensaries in Puerto Rico.

SG&A expense for Fiscal 2019 was about $3.52M as contrast to about $1.73M for Fiscal 2018. About $1.1M of the raise is Because of legal and professional fees.

Research and Development (R&D) expense for Fiscal 2019 was about $1.3M contrast to about $137 thousand for the Fiscal 2018. R&D expenses are entirely from our Plant and Cannabinoid Business and relate primarily to a) HyalolexTM, SerosapseTM, NatrinolTM, and Holi HempTM products; b) costs associated with the preparation of FDA filings, and preparation for medical trials; and c) inventory that was shown as work in progress in Fiscal 2018.

Net loss for Fiscal 2019 was about $4.1M or $0.13 per share, contrast to about $1.79M or $0.06 per share for Fiscal 2018. Raised expenses outlined above were primarily the cause of the larger loss.

Net profit margin of the firm was recorded at -80.10% and operating profit margin was calculated at -85.20% while gross profit margin was measured as 2.60%. Beta factor, which measures the riskiness of the security, was registered at 6.61.

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