Mishtann Foods Shares Up 40% In 1 Month, Promoter Hikes Stake Via Block Deal

Mishtann Foods Limited (BSE: 539594), is one of India's leading FMCG companies. As per disclosure data available on BSE, Mr. Hiteshkumar Patel, Director & Promoter of the company, purchased 482299 shares through market purchase on 23 June 2023. Earlier 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).

On Tuesday, the shares of Mishtann Foods opened on the BSE at Rs 11.43 apiece. The stock made a 52-week-high of Rs 12.55 on (20/06/2023) and a 52-week-low of Rs 7.09 on (23/05/2023). The stock has gone up 30.48% over the past year, and it has climbed 25.74% YTD in 2023. The stock has surged 26.58% over the past six months, and by 42.88% during the past month.

Mishtann Foods Limited (BSE: 539594) is India's leading FMCG company with 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 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.