Penny Stock Mishtann Foods Hit 52-Week High, Up 70% From 1 Year Low

Mishtann Foods Limited (BSE: 539594) India's leading FMCG company, has hit 52 Wk high on BSE. The company closed at Rs. 12.07 on 20 June 2023 and touched Rs.12.55 (52 wk high) in the trading session.

Earliest last month, the company reported stellar earnings for the quarter and year ended 31 March 2023.

Standalone Financial Performance Comparison - Q4FY23 v/s Q4FY22

Revenue from Operations grew by 10.04% from Rs. 153.47 Cr in Q4 FY22 to Rs. 168.89 Cr in Q4 FY23 primarily driven by robust demand for various products in the domestic and international markets.

PAT increased by 7.45 % from Rs. 13.15 Cr in Q4 FY22 to Rs. 14.13 Cr in Q4 FY23.
Standalone financial performance for FY23 vs FY22:

Revenue from operations recorded a healthy growth of 30.45% from Rs. 498.57 Cr in FY22 to Rs. 650.38 Cr in FY23.

PAT stood at Rs. 49.92 Cr in FY23 as compared to Rs. 31.21 Cr in FY22 witnessing a growth of 59.94%

Earlier, the company had informed the exchanges that Nomura Singapore Ltd ODI, over the period has increased its stake in Mishtann Foods to 1.28 per cent (1,28,25,854 Shares).

After making a fresh 52-week-high of Rs 12.55 in the early trading session of Tuesday, Nomura Singapore-backed penny stock Mishtann Foods closed on the BSE at Rs 12.07 apiece. The stock touched a 52-week-low of Rs 7.09 on (23/05/2023), indicating that at the current market price, the stock is trading 70.23% above the 1-year low.

Mishtann Foods Limited (BSE: 539594) is India's leading FMCG company with a primary focus on various types of Basmati rice. The company also has a sizeable presence in wheat and pulses segment. Mishtann Foods' 100,000 metric tonne per annum rice processing facility is strategically located near Ahmedabad in Gujarat, India, in a close proximity to port giving the company cost advantage for the export market. Mishtann's wider product portfolio of Basmati rice includes Raw, Sella and Steam that cater to a wider customer segment in wholesale as well as retail.

The company offers a wide range of agricultural products, including rice, wheat, spices, and pulses. All of its products are grown using environmentally friendly farming practices and carefully processed and packaged to preserve their freshness and nutritional value. Mishtann Foods is committed to sustainable agriculture and environmental conservation. It works closely with local farmers, providing them with training and support in eco-friendly farming practices and encouraging them to adopt sustainable methods of agriculture. Mishtann has relentlessly worked to support and encourage farmers to adopt the latest farming techniques. It is a matter of immense pride that the company sources its grains from some of the best Basmati-growing farms in the region.