1:10 Stock Split, 2:1 Bonus Share: FMCG Stock Hits 10% Upper Circuit, Up 248% In 1-Yr

Small cap company from the FMCG sector, Sarveshwar Foods Ltd shares today hit 10% upper circuit after the company on February 3, 2024 informed about its upcoming meeting of Board of Directors to be held on Feb 10, 2024 to consider financial results. Earlier on January 31, Sarveshwar Foods informed via exchange filing about setting up 2 more "SFL-Choupals" (Procurement Facilitation Centres) in Kulgam and Doda for procuring walnuts, rajma, apple, black morels (gucchi), kala jeera and other authentic Himalayan delights directly from farmers." Last trading price of Sarveshwar Foods shares on NSE is Rs 9.70 apiece with an intraday surge of 9.60% on the afternoon session of Tuesday.

Sarveshwar Foods To Consider, Approve Financial Results: As per the regulatory filing of the company dated Feb 3, 2024, "meeting of the Board of Directors of the Company is scheduled to be held on Saturday, 10th day of February, 2024 inter-alia, to consider and approve the Unaudited Standalone and Consolidated Financial Results for the Quarter and Nine Months ended on 31st December, 2023 and other matters stated in the agenda notice."

Sarveshwar Foods Stock Performance & Return: The 52-week high price of Sarveshwar Foods shares on BSE is Rs 8.89 apiece and 52-week low price is Rs 2.07 apiece, respectively. The company's market capitalisation is Rs 870.17 crore. Sarveshwar Foods stock rallied 61% in last 1-month, gained 100% in last 3-months, and soared 265% in last 1-year.

Sarveshwar Foods Bonus Issue In 2023: The board of directors of Sarveshwar Foods in 2023 fixed September 15 as record date for 2:1 bonus shares. As per its BSE filing saying, "Board of Directors has revised Record Date to Friday, September 15, 2023 for the purpose of 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)."

Sarveshwar Foods Stock Split In 2023: In 2023, it also announced sub-division/split of company's 1 (one) Equity Shares of the Company having a face value of Rs. 10/- each into 10 (Ten) Equity shares of the company having face value of Re. 1 each, subject to the approval of shareholders to be obtained in the ensuing extra-ordinary general meeting and such other approvals as may be required. In this regard, the record date for such division/ split shall be intimated to the stock exchanges in due course." The record date for stock split was September 15.

Sarveshwar Foods Granted 1st GI Tag, Shares Zoom: According to the company's press release, "With this, Sarveshwar Foods limited became the 1st and only company based in Jammu and Kashmir region which has the GI tag for Basmati rice for export purposes."

GI tag awarded by the APEDA (Ministry of Commerce & Industry, Govt. of India) after thorough verification of records, quality of the product, their properties, origan, and procurement, processing procedure adopted by Sarveshwar Foods for its Basmati Rice, and henceforth entitles the company to affix GI Tag on its packaging for export, added the press release.

Commenting on the occasion, Mr. Rohit Gupta, Chairman of the Company said "it is an honour for entire team that Sarveshwar Foods Limited has become the first and the only Company from Jammu & Kashmir to obtain Geographical Indication"( GI) from APEDA ( Ministry of Commerce & Industry, Govt. of India) for Basmati Rice. He further added "We are hopeful that with use of the GI tag, Sarveshwar Foods limited will be able to augment its strength both in the domestic tariff area as well as in International market for its Basmati rise in the coming times.

Sarveshwar Foods About: The Company is engaged in the business of manufacturing, trading, processing, and marketing ofbranded and un-branded basmati and non-basmati rice in the domestic and international markets.Our operations are based out of the India's Jammu Region. SFL hassustainable and eco+ve legacy of serving healthy and tasty rice for more than 130 years and in last couple of decades proliferated its heritage to other premium categories of FMCG and Organic products. SFL belongs to the lands in foothills of Himalayas which is nourished by fertile mineral-rich soil,organic manure and snow melted waters of river Chenab, wherein without using any artificial fertilizers and chemicals, they produce full range of 'ORGANIC' products, being sold with brandname 'NIMBARK'- conceptualized to spread the philosophy of the 'SATVIK' conscious lifestyle.

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