Top 5 fundamentally strong smallcap stocks to watch out in 2024
fundamentally strong small-cap stocks that could thrive in 2024. Dhanuka Agritech is one of India’s leading agri-input (pesticides and chemicals) companies. The company’s portfolio spans a wide range of crop protection products such as herbicides (accounting for 39% of the total revenues in 2023), insecticides (29%), fungicides (20%), and plant growth regulators (12%).
The company also provides specialised fertilisers and seeds to cater to the diverse needs of farmers and maximise crop yields. It enjoys a long-standing tie-up with global innovators such as Nissan Chemicals, FMC Corporation etc. Recently, Dhanuka Agritech set up a technical manufacturing plant that will provide raw material security and the benefit of backward integration in the form of lower raw material costs.
Moreover, it will reduce the company's import dependence by 20-25%, helping it boost margins going forward. The agro player has a long history of strong growth in sales and profits. Between 2019-23, the sales and net profits have grown at a CAGR of 12.3% and 13.1%, respectively.
Next on our list is Accelya Solutions. Accelya Solutions is a software solutions provider to the global airline and travel industry. The company enjoys a large global footprint with operations spanning 11 countries.
It accounts for and manages over 5 bn financial transactions and 75 m tons of cargo on an annual basis. Most of the business comes from its 250 airline customers, travel agents and shippers worldwide. With strategic partnerships and alliances with established associations, Accelya caters to aniche segment.
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