Multibagger penny stock under Rs 10: This micro-cap company launches free certified Sona Masuri paddy seeds distribution initiative in UT of Jammu & Kashmir
The stock gave multibagger returns of 280 per cent in just 1 year and of a whopping 700 per cent in 5 years.
Sarveshwar Foods Ltd has announced a pioneering initiative aimed at supporting farmers in the Jammu & Kashmir Union Territory through free distribution of certified Sona Masuri paddy seeds, known for their high quality and yield potential, to farmers across the region. Sarveshwar aims to empower the farming community by providing the seeds of export-oriented rice varieties.
Free distribution of certified seed of Sona Masuri paddy will be done at the Sarveshwar procurement facilitation center under this program. This initiative reflects Sarveshwar Foods' dedication to empowering local farming communities and promoting agricultural development in the area.
In light of the economic challenges confronting farmers in Jammu & Kashmir, Mr. Rohit Gupta, Chairman of Sarveshwar Foods Ltd, has announced a compassionate initiative. Under the supervision of the Agriculture Specialist team, Sarveshwar has resolved to distribute paddy seeds free of cost. This distribution will specifically target non-basmati growing areas of Jammu. The primary aim of this program is to extend support to the farmers, prioritizing their welfare and interests in the state.
Sona Masuri Rice is a variety of medium-grain rice mainly grown in Southern India. One of the unique features of Sona Masuri rice is its ability to absorb flavors and spices easily, making it an ideal ingredient for preparing a variety of Indian dishes. Additionally, it has a lower glycaemic index compared to other varieties of rice, making it a healthier choice for people with diabetes. Sona Masuri Rice, due to its increasing popularity, is also finding its position in the international market, mostly exported to countries with a large Indian diaspora.
Sarveshwar Foods Ltd.’s initiative to distribute free, certified Sona Masuri paddy seeds targets over 1,000 farmers across specific regions in Jammu & Kashmir, aiming to maximize outreach and empower local agriculture. This initiative not only supports farmers with essential resources but also contributes to the region's agricultural sustainability, rural development, food security, and economic growth through Sarveshwar Foods' expertise and resources.
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Sarveshwar Foods Limited (SFL), a leading food company from Jammu & Kashmir with over 130 years of experience, is the first private sector company in the state to be listed on both NSE (symbol: SARVESHWAR) and BSE (code: 543688). SFL offers a wide range of branded and unbranded basmati and non-basmati rice, along with organic products under the "NIMBARK" brand, all produced using sustainable practices and adhering to strict quality certifications like ISO, USFDA, and BRC.
The company has a market cap of Rs 870 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 280 per cent in just 1 year and of a whopping 700 per cent in 5 years. Today, shares of Sarveshwar Foods Ltd gained 1.11 per cent to an intraday high of Rs 9.10 per share from its previous closing of Rs 9 per share.
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