From SME To Mainstream: FMCG Stock Plans Dual Main Board Listings On NSE And BSE; DIIs Raise Stake In Q4

Shares of Krishival Foods Limited rose by 2.51% to Rs 245 on Tuesday, prior to the key announcements related to growth strategy and further market expansion that the company made on Tuesday.

The company's strategy to move the equity shares at the NSE EMERGE (SME associate platform) to the Main Board of the National Stock Exchange (NSE) was agreed upon during a recent board meeting. In accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, Chapter IX, this step also needs regulatory and stakeholder approvals. The removal is also subject to the consent of the company shareholders through a postal ballot, which will be suitably notified in good time.

According to M/s MNB & Co LLP, Practising company secretaries have also been appointed by the board as scrutinizer for the postal ballot. Krishival Foods is also looking into the possibility of directly placing its shares on the Main Board of BSE Limited pending the required approvals.

All these steps appear intended, in the context of making the firm more accessible to investors and in enhancing long-term value to the shareholders, signifying aggressive strategic moves by the company.

Krishival Foods has a market capitalisation of over Rs 500 crore and maintains a P/E ratio of 42x, indicating strong investor confidence. The company also maintains an ROE of 10% and ROCE of 13%, showing Operational efficiency. Its stock is currently at 16% above its 52-week low of Rs 211. Domestic Institutional Investors have also picked up 3.74 lakh shares, accounting for a 1.68% stake as of March 2025.

Further enhancing its narrative of growth, Krishival Foods has made a strategic move by acquiring a 52.94% stake in Melt 'N' Mellow Foods Private Limited, a dominant player in the production of ice cream, milk, and bakery items. This acquisition will enable Krishival to diversify its product offerings and enter into the rapidly expanding food and beverage space.

Melt 'N' Mellow's branded products, together with its extensive distribution and market presence, will enable Krishival to scale up its offerings to different consumer segments. Both companies combined are likely to realize considerable synergies, revenue, and accelerated growth for Krishival.

Krishival Foods, established in 2014, stands out in the market of processed nuts and dry fruits with high-quality packaged products under the Krishival Nuts brand. The company's products include cashews, almonds, pistachios, dry figs, and several combo packs, which are sold in 64 tier II and III cities across India.

With the move into dairy and bakery, and plans for a Main Board listing, the company is reinforcing its goal of becoming a diversified consumer-focused national food brand.
These recent steps mark a strategic inflection for the company, amplifying its focus on scale, brand equity, and growth to be the market leader in the evolving food ecosystem in India.