2:1 Bonus Share & 10:1 Stock Split in FY24: Multibagger penny stock at Rs 9.84 per share saw heavy buying; hit upper circuit today

From Re 1 to Rs 9.84 per share, the stock gave multibagger returns of 884 per cent in 3 years.

Today, shares of Sarveshwar Foods Ltd hit a 5 per cent upper circuit to Rs 9.84 per share from its previous closing of Rs 9.38 per share. The stock’s 52-week high is Rs 15.73 and its 52-week low is Rs 2.19. The shares of the company saw a spurt in volume by more than 1.01 times. 

For over 130 years, Sarveshwar Foods Limited (SFL) in Jammu & Kashmir has been a leading name in rice cultivation, processing, and trade. They handle both Basmati and non-Basmati varieties for domestic and international markets. Himalayan snowmelt nourishes their crops alongside organic manure, reflecting their commitment to sustainable practices. This dedication to eco-friendly methods extends to their ‘NIMBARK’ brand of organic products, which embodies their philosophy of promoting a ‘SATVIK’ lifestyle focused on conscious living. Notably, SFL holds a significant achievement as 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).

Earlier, the company secured a significant contract to supply their premium Steamed Basmati Rice to the revered Shri Mata Vaishno Devi Shrine Board in Jammu and Kashmir. This prestigious selection by an organization known for its dedication to high-quality provisions reinforces Sarveshwar Foods' reputation for excellence and reliability. Their unwavering commitment to quality extends beyond this contract, as they ensure all their rice products meet the highest standards through strict quality control and sustainable farming practices. Every bag of Sarveshwar Foods rice guarantees freshness, purity, and essential nutrients, offering a wholesome eating experience not just to pilgrims visiting the holy shrine, but to customers worldwide.

Also Read: Mukul Agrawal bought 1,67,000 shares & FIIs bought 5,51,688 shares of this multibagger defence stock in FY24; Hit 52-week high on July 02

The company has a market cap of Rs 960 crore with a 3-year CAGR of 114 per cent. According to Quarterly Results, the net sales increased by 90.5 per cent to Rs 247.32 crore and net profit increased by 146.2 per cent to Rs 4.61 crore in Q4FY24 compared to Q4FY23. In its annual results, the net sales increased by 26.2 per cent to Rs 869.59 crore and net profit increased by 119.2 per cent to Rs 17.34 crore in FY24 compared to FY23.

The company's shares have ex-traded bonus shares and stock split in the financial year 2023 – 2024, i.e., 2:1 bonus shares and stock split from a face value of Rs 10 to Rs 1. The stock gave multibagger returns of 317 per cent in just 1 year. From Re 1 to Rs 9.84 per share, the stock gave multibagger returns of 884 per cent in 3 years. Investors should keep an eye on this stock.

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