FMCG Penny Stock Below Rs 10 Announces Big Update In-line With This Central Government’s Initiative

Sarveshwar Foods Limited launched a campaign to encourage millet cultivation in Jammu & Kashmir, Himachal Pradesh, via Sarveshwar Facilitation Centers (SFC), in line with the Central Government's initiative to promote millets and to promote a nutrient-rich diet among consumers and to reinforce its Nimbark Organics variety of millet products.

The company has now launched an organized campaign to revive millet cultivation in Jammu and Kashmir and Himachal Pradesh through its Sarveshwar Facilitation Centres (SFC), which have been set up in multiple key locations across the region and are currently being implemented at some more strategic locations of Himachal Pradesh. This is being done as a backward integration measure to boost and ensure an uninterested availability of millets to its already popular Nimbark Organics Millet Product range.

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The United Nations designated 2023 as the International Year of Millets at the Government of India's request. This provided Sarveshwar Foods Limited with the ideal occasion to introduce its entire line of millet products under the well-known Nimbark Organics brand, bringing millet from the land of Himalayas into the kitchens of every Indian home. Sarveshwar Food offers a wide range of nutrient-dense, gluten-free, high-fiber Nimbark Organic products made from millet that come in recyclable and environmentally friendly packaging.

"For millets cultivation, through our network of Sarveshwar Facilitation Centres (SFC), in initial phase, we have enrolled farmers in Doda, Jammu and Udhampur districts with total 500 Acre area and now expanding this farmer franchise to Rajouri, Kathua and Ramban as well with targeted area to 2500 Acre. In Himachal Pradesh, we are aggressively enrolling farmers in Kullu, Lahaul Spiti and Shimla areas," said Sarveshwar Foods in a regulatory filing.

The Sarveshwar Foods campaign for millets has two overarching goals: first, it aims to strengthen procurement for its range of millet-based Nimbark Organic products by leveraging its network of Sarveshwar Facilitation Centres (SFCs); second, it aims to use its dominant market position in the area to transform millets cultivation from subsistence farming to a globally competitive industry through the use of environmentally friendly and cost-effective production, processing, and value-adding technologies, as well as supply chain networks.

On Wednesday, the shares of Sarveshwar Foods Ltd were trading at Rs 8.85 apiece level during the afternoon deals with a market cap of Rs 867 Cr.

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