90% Gain From 52W Low, Sarveshwar Foods Declares Split, Bonus In Q1 Earnings

Sarveshwar Foods has announced its first quarter result of the current financial year. The company in a filing said that its net profit in the June 2023 quarter increased 3.79 per cent to Rs 2.89 crore. The firm had posted a net profit of Rs 2.79 crore in the first quarter of the previous financial year.

On a QoQ basis, the net profit of the company zoomed more than 60 per cent. In the fourth quarter of financial year 202-23, the net profit was seen at Rs 1.80 crore.

The company's total in the reporting quarter came in at Rs 189.23 crore as compared to Rs 199.71 crore reported in a year-ago period, the company filing said.

On a sequential basis, the total income was seen surging nearly 45 per cent from Rs 130.6 crore to Rs 189.23 crore.
The earnings per share (EPS) of the company increased 39 per cent from March 2023 quarter.

Meanwhile, the company's board has also approved the sub-division (split) of the face value of its equity shares from Rs 10 to Re 1. Besides, the firm will also issue bonus shares to its shareholders in the ratio of 1:1 after the split.

"...considered and approved the sub-division/split of one equity shares having a face value of Rs 10 each into ten equity shares having face value of Re 1 each," the company said in a filing.

"... issuance of Bonus equity shares to the securityholders 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)," the filing added.

Shares of Sarveshwar Foods Limited were last seen trading at Rs 118.95 on BSE, up 3.21 per cent. The stock hit an intraday high of Rs 119.50 and an intraday low of 117. The stock made a 52-week-high of Rs 138.40 on (07/08/2023) and a 52-week-low of Rs 62.60 on (28/03/2023), indicating that at the current market price, the stock is trading 89.93% above the 1 year low and 14.08% below the 1 year high.