Sarveshwar Foods Allots 10,20,00,000 Fully Convertible Warrants To Non-Promoters

Sarveshwar Foods Limited's Board of Directors, in their meeting on July 25, 2024, approved the allotment of 10,20,00,000 fully convertible warrants to non-promoter, public category investors on a preferential basis at Rs 9.70 per warrant. This allotment is subject to shareholder approval and necessary regulatory clearances. Each warrant can be converted into one equity share of Re 1 face value within 18 months of allotment, with 25 per cent of the warrant price payable upfront and the balance payable within 18 months. These warrants are subject to a lock-in period.

Today, shares of Sarveshwar Foods Ltd rose 1.53 per cent to Rs 9.43 per share from the previous closing of Rs 9.16, reaching an intraday high of Rs 9.43 and an intraday low of Rs 9.17. The stock's 52-week high is Rs 15.73, while its 52-week low is Rs 3.22.

The company has a market cap of over Rs 900 crore with a 3-year CAGR of 114 per cent. According to the quarterly results for Q4FY24, net sales increased by 90.5 per cent to Rs 247.32 crore, and net profit surged by 146.2 per cent to Rs 4.61 crore compared to Q4FY23. In its annual results, net sales increased by 26.2 per cent to Rs 869.59 crore, and net profit rose by 119.2 per cent to Rs 17.34 crore in FY24 compared to FY23.

Recently, Sarveshwar Foods Ltd. and Boomitra O2C Tech India partnered to use environmentally friendly farming techniques on 45,000 acres cultivated by 17,000 farmers. The objectives of this collaboration are to lower greenhouse gas emissions, increase soil health, and increase agricultural output. Furthermore, the farmers and Sarveshwar Foods will receive additional revenue from the carbon credits generated by their decreased carbon footprint.

The company's shares have undergone ex-traded bonus shares and a stock split in the financial year 2023-2024, with a 2:1 bonus share issue and a stock split from a face value of Rs 10 to Rs 1. The stock has provided multibagger returns of 190 percent in just one year, and over the past three years, it has surged from Re 0.70 to Rs 9.43 per share, yielding returns of over 1,200 percent.

For over 130 years, Sarveshwar Foods Limited (SFL) has been a prominent name in rice cultivation, processing, and trade in Jammu & Kashmir. They handle both Basmati and non-Basmati varieties for domestic and international markets. Their crops are nourished by Himalayan snowmelt and organic manure, reflecting their commitment to sustainable practices. This dedication to eco-friendly methods is embodied in their 'NIMBARK' brand of organic products, promoting a 'SATVIK' lifestyle focused on conscious living. Notably, SFL holds the distinction of being the first private-sector food company in Jammu & Kashmir to be listed on both the National Stock Exchange (SARVESHWAR) and the Bombay Stock Exchange (543688).