2:1 Bonus Share & 10:1 Stock Split: Multibagger penny stock at Rs 8.90 – This basmati rice manufacturing company bags new order from Shri Mata Vashino Devi Shrine Board, J&K
The stock gave multibagger returns of 275 per cent in just 1 year and of a whopping 700 per cent in 5 years.
Sarveshwar Foods Limited announced that it has been awarded a momentous contract from the esteemed Shri Mata Vaishno Devi Shrine Board in Jammu and Kashmir. Under this contract, Sarveshwar Foods will supply its premium Steamed Basmati Rice to the renowned pilgrimage destination.
The Shri Mata Vaishno Devi Shrine Board, known for its dedication to providing high-quality provisions, has chosen Sarveshwar Foods as a trusted supplier of Basmati Rice. This selection underscores Sarveshwar Foods' reputation for excellence and reliability in delivering top-notch Basmati Rice and is a testament to the company's unwavering commitment to quality and customer satisfaction.
White rice is a staple food consumed by millions worldwide, and Sarveshwar Foods is dedicated to ensuring that its rice products meet the highest quality and safety standards by following stringent quality control measures and sustainable farming practices. Every Sarveshwar Foods product guarantees freshness, purity, and nutritional value, thus providing consumers with a wholesome eating experience.
Also Read: Ashish Kacholia’s Portfolio High ROE & High ROCE Chemicals Stock: This Small-Cap company is into expansion and growth of the business; details inside!
Sarveshwar Foods Limited (SFL), a company with over 130 years of experience, is a leading manufacturer, trader, processor, and marketer of branded and un-branded Basmati and non-Basmati rice in both domestic and international markets. Their operations are based in Jammu and Kashmir, where the foothills of the Himalayas provide the perfect growing conditions for their rice. SFL is committed to sustainable and eco-friendly practices, using organic manure and snowmelt from the Chenab River to cultivate their full range of organic products sold under the brand name ‘NIMBARK’. This brand reflects their philosophy of promoting a ‘SATVIK’ lifestyle based on conscious living. Notably, SFL is the first private-sector food company in Jammu & Kashmir to be listed on both the NSE (SARVESHWAR) and BSE (543688).
The company has a market cap of Rs 877 crore with a 3-year CAGR of 100 per cent. According to Quarterly Results, the net sales increased by 24.7 per cent to Rs 229.38 crore and net profit increased by 186.6 per cent to Rs 4.93s crore in Q3FY24 compared to Q3FY23. 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 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 275 per cent in just 1 year and of a whopping 700 per cent in 5 years. Today, shares of Sarveshwar Foods Ltd hit a 5 per cent upper circuit to Rs 8.90 per share from its previous closing of Rs 8.50 per share.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.