Multibagger penny stock at Rs 11 with 2,400 per cent returns: Government of India has chosen SFL for rice distribution in the Union Territory of Jammu & Kashmir – details inside!

The stock gave multibagger returns of 300 per cent in just 1 year and of a whopping 2,400 per cent in 3 years.

In a move aimed at providing quality rice at subsidized rates, the Government of India's ambitious "Bharat" brand initiative has chosen Sarveshwar Foods Limited for rice distribution in the Union Territory of Jammu & Kashmir. This marks a significant step towards expanding the program's reach and ensuring wider access to essential food items for the masses.

Launched in February 2024, the "Bharat" brand already offers pulses and atta at discounted prices, receiving an enthusiastic response from consumers. Now, rice joins the list, priced at an affordable Rs. 29 per kilogram. Distribution will occur through NAFED and NCCF outlets, as well as leading e-commerce platforms, ensuring convenient access across the region.

This selection of Sarveshwar Foods, a company with over 130 years of experience, highlights its commitment to contributing to the government's vision. The initiative aims to tackle food inflation, stabilize prices, and enhance the availability of quality food items throughout India. With Sarveshwar's established network and expertise, the successful distribution of "Bharat Rice" in J&K is anticipated.

This collaboration not only empowers people with access to affordable rice but also bolsters the "Bharat" brand's mission. As the program expands to include more essential commodities and regions, initiatives like this hold immense potential to improve food security and empower Indian citizens.

Sarveshwar Foods Limited (SFL) is an ISO 22000:2018 and USFDA (United States Food and Drug Administration) certified company. SFL also has BRC (the biggest global standard for food safety), Kosher, NPPO USA & CHINA along with NOP -USDA Organic certifications for its products. The company is engaged in the business of manufacturing, trading, processing, and marketing of branded and un-branded basmati and non-basmati rice in the domestic and international markets. Our operations are based out of the Jammu Region in the State of Jammu and Kashmir.

SFL has a sustainable and eco-positive legacy of serving healthy and tasty rice for more than 130 years and in the last couple of decades proliferated its heritage to other premium categories of FMCG and Organic products. SFL belongs to the lands in the foothills of the Himalayas which are 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 a full range of ‘ORGANIC’ products, being sold with brand name ‘NIMBARK’- conceptualised to spread the philosophy of the ‘SATVIK’ conscious lifestyle.

Today, shares of Sarveshwar Foods Ltd (SFL) gained 3.09 per cent to Rs 10 per share from its previous closing of Rs 9.70 with an intraday high of Rs 10.15 and an intraday low of Rs 9.90. The stock also made a fresh new 52-week high of Rs 10.15 with a spurt in volume by more than 3 times on BSE.

The company has a market cap of Rs 975 crore with a 3-year CAGR of 150 per cent. According to Quarterly Results, the net sales increased by 15.2 per cent to Rs 205.22 crore and net profit increased by 220 per cent to Rs 4.83 crore in Q2FY24 compared to Q2FY23. In its annual results, the net sales increased by 14 per cent to Rs 689 crore and net profit increased by 166.7 per cent to Rs 8 crore in FY23 compared to FY22. The stock gave multibagger returns of 300 per cent in just 1 year and of a whopping 2,400 per cent in 3 years.

Disclaimer: The article is for informational purposes only and not investment advice.