1:10 Stock Split, 2:1 Bonus Share: FMCG Stock Q3 Net Zooms 119.27%, Hits Upper Circuit

Small cap company operating in the FMCG sector, Sarveshwar Foods Ltd shares hit 5% upper circuit in trade on February 16, 2024. Last trading price of Sarveshwar Foods shares on BSE is Rs 10.69 apiece with intraday rally of 4.91%. The company declared its net profit for the quarter ended December 31, 2023 at Rs 1.92 crore, up 119.27% from Rs 0.88 crore in the corresponding quarter of last year.

Its net sales for the quarter under review declared at Rs 98.93 crore, up 17.54% from Rs 84.17 crore in December 2022. EBITDA arrived at Rs 7.90 crore for December 2023, up 84.58% from Rs 4.28 crore in December 2022. The company announced its EPS declined to Rs 0.02 for December 2023 from Rs 0.36 in December 2022.

Sarveshwar Foods Stock Performance & Return: The 52-week high price of Sarveshwar Foods shares on BSE is Rs 10.69 apiece and 52-week low price is Rs 2.07 apiece, respectively. The company's market capitalisation is Rs 1046.35 crore. Sarveshwar Foods stock soared 32% in last 2-weeks, gained 52% in last 1-month, surged 112% in last 3-months, and rallied 168% in last 6-monts. In last 1-year, Sarveshwar Foods shares zoomed 294%.

Sarveshwar Foods Bonus Issue In 2023: Sarveshwar Foods recommended 2:1 bonus shares in 2023 and fixed September 15 as record date. According to its regulatory filing, "Board of Directors has revised Record Date to Friday, September 15, 2023 for the purpose of ascertaining the eligibility of securityholders entitled for issuance of Bonus Equity Shares of the Company in the ratio of 2:1 i.e. 2 (Two) Equity Shares for every 1 (One) Equity Shares having a face value of Re. 1/- (considering the post sub-division/split of face value of equity shares)."

Sarveshwar Foods Stock Split In 2023: In 2023, the FMCG company also declared sub-division/split of company's 1 (one) Equity Shares of the Company having a face value of Rs. 10/- each into 10 (Ten) Equity shares of the company having face value of Re. 1 each, subject to the approval of shareholders to be obtained in the ensuing extra-ordinary general meeting and such other approvals as may be required. In this regard, the record date for such division/ split shall be intimated to the stock exchanges in due course." The record date for stock split was September 15.

Sarveshwar Foods Granted 1st GI Tag: According to the company's press release dated January 8, 2024, "With this, Sarveshwar Foods limited became the 1st and only company based in Jammu and Kashmir region which has the GI tag for Basmati rice for export purposes."
GI tag awarded by the APEDA (Ministry of Commerce & Industry, Govt. of India) after thorough verification of records, quality of the product, their properties, origan, and procurement, processing procedure adopted by Sarveshwar Foods for its Basmati Rice, and henceforth entitles the company to affix GI Tag on its packaging for export, added the press release.

Sarveshwar Foods About: The Company is engaged in the business of manufacturing, trading, processing, and marketing ofbranded and un-branded basmati and non-basmati rice in the domestic and international markets.Our operations are based out of the India's Jammu Region. SFL hassustainable and eco+ve legacy of serving healthy and tasty rice for more than 130 years and in last couple of decades proliferated its heritage to other premium categories of FMCG and Organic products. SFL belongs to the lands in foothills of Himalayas which is nourished by fertile mineral-rich soil,organic manure and snow melted waters of river Chenab, wherein without using any artificial fertilizers and chemicals, they produce full range of 'ORGANIC' products, being sold with brandname 'NIMBARK'- conceptualized to spread the philosophy of the 'SATVIK' conscious lifestyle.

Disclaimer: The stock just highlights the rally in share after update on Board Meeting and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.

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