Multibagger Stock Sets Record Date For 2:1 Bonus Shares & 1:10 Stock Split, Scrip Up 160% In 1 Yr

Sarveshwar Foods Ltd is a small cap company dealing in the FMCG sector. The company is one of the best basmati rice providers in the world. The Traditional Basmati rice from Sarveshwar is referred to as "the queen of fragrance." The entire range of Indian traditional Basmati rice, 1121 Basmati rice, Pusa Basmati rice, Sharbati rice, PR 11 rice, IR 8 rice, and other varieties are among its products. After the Board of Directors of the firm set the record date for the 2:1 bonus shares and 1:10 stock split, Sarveshwar Foods' shares gained value today on the BSE and have climbed by almost 3% so far in the early trading session.

"We wish to inform you that pursuant to the shareholders' approval obtained in the Extra-ordinary General Meeting held on August 24, 2023, the Board of Directors vide resolution by circulation dated August 24, 2023 has fixed, Tuesday, September 05, 2023 as the "Record Date" 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 sub-divided into 10 (Ten) Equity Shares of nominal value of Re. 1/-(One Rupee) each fully paid-up and; b) ascertaining the eligibility of security holders 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)," said Sarveshwar Foods in a stock exchange filing.

In a filing, the firm reported that its net profit for the quarter ended in June 2023 rose 3.79 percent to Rs 2.89 crore. In the first quarter of the prior fiscal year, the company reported a net profit of Rs 2.79 crore. The company's net profit increased by more than 60% on a QoQ basis as the net profit was seen at Rs 1.80 crore in Q4FY23. According to its regulatory filing, the company's total income for Q1FY24 was Rs 189.23 crore as opposed to Rs 199.71 crore in Q1FY23. Sequentially, the total income increased by about 46%, from Rs 130.6 crore in Q4FY23 to Rs 189.23 crore in Q1FY24.

On Friday, the shares of Sarveshwar Foods opened on the BSE at Rs 130 apiece and clocked to Rs 127.50 +2.85 (+2.29%) compared to the previous close of Rs 124.65. 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 7.87% below the 1 year high and 103.67% above the 1 year low. The stock has produced a multibagger return of 184% over the past five years and a multibagger return of 916% over the past three years. The stock has produced a multibagger return of 159% during the past year, and YTD, the scrip has gone up by 44.71% in 2023.