Multibagger in just 1 year; Board announces bonus shares and stock split after stellar quarterly results!

The stock gave multibagger returns of 155 per cent in just 1 year and of over 1,000 per cent in 3 years.

Sarveshwar Foods Limited (BSE Scrip Code: 543688; NSE Scrip Code: SARVESHWAR), incorporated in 2004 in Jammu & Kashmir, is engaged in the manufacturing, trading and export of Basmati rice, which is long grain rice with a fine texture; announced that the Board of Directors of the company have approved a sub-division/ split of the company’s 1 equity share of the company having a face value of Rs 10 each into 10 equity shares of the company having a face value of Rs 1 each.

And bonus shares in the ratio of 2:1 i.e., 2 equity shares for every 1 equity share having a face value of Rs 1 each (considering the post-sub-division/split of the face value of equity shares) held by the eligible shareholders of the company as on the record date. The company fixed the record date for bonus shares and stock split as Tuesday, September 05, 2023.

Earlier, the company announced its stellar Quarterly Results wherein net sales increased by 44.58 per cent to Rs 187.68 crore and net profit increased by 60.26 per cent to Rs 2.90 crore in Q1FY24 compared to Q1FY23.

Sarveshwar Foods Limited (BSE Scrip Code: 543688; NSE Scrip Code: SARVESHWAR), incorporated in 2004 in Jammu & Kashmir, is engaged in the manufacturing, trading and export of Basmati rice, which is long grain rice with a fine texture. The company has a market cap of Rs 381.39 crore with a 3-year CAGR of 117 per cent.

On Thursday, shares of Sarveshwar Foods Ltd zoomed 0.89 per cent to Rs 124.65 per share with an intraday high of Rs 129.30 and an intraday low of Rs 120.05.

The stock gave multibagger returns of 155 per cent in just 1 year and of over 1,000 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

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