1:10 Stock Split, 2:1 Bonus Shares: Multibagger FMCG Stock Declares New Update On FY24 Earnings; Do You Own?

Sarveshwar Foods Ltd is a micro-cap FMCG company which is likely to be in focus as the company is going to declare financial results for the year ended 31st March 2024.

"This is to inform you that meeting of the Board of Directors of the Company is scheduled to be held on Thursday, 16th day of May, 2024 inter-alia, to consider and approve the Audited Standalone and Consolidated Financial Results for the Financial Year ended on 31st March, 2024 and other matters stated in the agenda notice," said Sarveshwar Foods in a regulatory filing.

"Pursuant to this, the Company had decided that the close period (i.e. closure of trading window) under the"Company's Code of Conduct for Prevention of Insider Trading" to commence from 1st April, 2024 and end 48 hours after the results are made public on 16 th May, 2024," Sarveshwar Foods further informed to the stock exchanges.

Sarveshwar Foods recently, on May 2, announced a ground-breaking programme to assist farmers in the Jammu & Kashmir Union Territory by giving out free certified Sona Masuri paddy seeds, which are renowned for their excellent quality and production potential, to farmers all over the region. Sarveshwar provides the seeds of rice types targeted for export with the goal of empowering the farming community. Under this programme, certified Sona Masuri paddy seed will be distributed for free at the Sarveshwar procurement facilitation centre.

"In light of the economic challenges confronting farmers in Jammu & Kashmir, Mr. Rohit Gupta, Chairman of Sarveshwar Foods Ltd, has announced a compassionate initiative. Under the supervision of the Agriculture Specialist team, Sarveshwar has resolved to distribute paddy seeds free of cost. This distribution will specifically target non-basmati growing areas of Jammu. The primary aim of this program is to extend support to the farmers, prioritizing their welfare and interests in the state," said Sarveshwar Foods in a NSE statement.

Approximately a thousand farmers in various regions of Jammu & Kashmir Union Territory will benefit from the distribution; they include Paharpur Maharajpur, Haripur, Chadwal, and Hariachak in the Kathua Sector; and Paragwal, Mirpur, Garkhal, Akhnoor East, Panjtoot, Khour, Jourian, Bakour, and Hamirpur in Akhnoor West.

The United States Food and Drug Administration (USFDA) and ISO 22000:2018 certified company is Sarveshwar Foods Limited (SFL). Along with USDA Organic (NOP) and BRC (biggest global standard for food safety) certifications, SFL's products are also Kosher, NPPO USA, CHINA, and certified BRC. In both the local and foreign markets, the company manufactures, trades, processes, and markets both branded and non-branded basmati and non-basmati rice.

SFL is the first private sector NSE and BSE listed food company in Jammu & Kashmir with NSE Symbol: SARVESHWAR and BSE Scrip Code: 543688. Since its listing on NSE SME platform on March 15, 2018, the company has declared bonus shares in a 2:1 ratio for which the record date was 15th September 2023 along with a 1:10 stock split or sub-division of shares from a face value of Rs.10/- to Rs.1/- for which the record date was also the same.