Multibagger Stock Revises Record Date For 2:1 Bonus Shares, 1:10 Stock Split

Sarveshwar Foods Ltd has informed stock exchanges regarding the change in record date for 2:1 bonus shares, 1:10 stock split.

Earlier the company had fixed September 5, 2023 as the record date but it has now been changed to September 15, 2023
The small-cap FMCG company said in a regulatory filing that "In terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, due to pendency of certain procedural formalities, and consequent technical challenges, we wish to inform you that the Board of Directors has revised Record Date to Friday, September 15, 2023 for the purpose of; a) Sub-division of face value of Equity Shares (all the Authorized, Issued, Subscribed and Paid-up Equity Shares of nominal value of Rs. 10/- (Rupees Ten Only) each shall stand subdivided into 10 (Ten) Equity Shares of nominal value of Re. 1/-(One Rupee) each fully paid up and; b) 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)."

According to a regulatory filing, the company's net profit for the quarter ended in June 2023 climbed 3.79 percent to Rs 2.89 crore. The company declared a net profit of Rs 2.79 crore during the first quarter of the previous fiscal year. Considering the net profit was Rs 1.80 crore in Q4FY23, the company's net profit climbed by more than 60% on a QoQ basis. The company's total income for Q1FY24 was Rs 189.23 crore, down from Rs 199.71 crore in Q1FY23, according to its regulatory filing. From Rs 130.6 crore in Q4FY23 to Rs 189.23 crore in Q1FY24, the total income grew sequentially by around 46%.

On Wednesday, the shares of Sarveshwar Foods opened on the BSE at Rs 138 apiece. The stock made a 52-week-high of Rs 142.00 on (29/08/2023) and a 52-week-low of Rs 62.60 on (28/03/2023). In the last 1 year the stock has generated a multibagger return of 184.80% and on a YTD basis the scrip has gained 51.50% so far in 2023.