Multibagger stock below Rs 10: This small-cap company is into the expansion of business!

The shares of the company have a PE of 15.4x and a ROE of 39.71 per cent.

Mishtann Foods Limited (BSE Script Code: 539594) has announced that it has incorporated a wholly-owned subsidiary company named “Grow and Grub Nutrients FZ – LLC” in the United Arab Emirates. The company proposes to focus on international trade with increased exposure in various untapped markets in its growth journey across geographical boundaries. 

Mr Hitesh Patel, Managing Director, of Mishtann Foods Ltd., said, “This expansion is a significant milestone for our company as it will enable us to expand our area of operations and reach out to a new customer base by providing them with wider options and serve our customers better. The new subsidiary will allow us to tap into new markets and leverage the existing relationships that we have built with our customers across geographical borders. It will enable us to strengthen our position as a leading agro-products company in India and abroad. We are excited about the opportunities that lie ahead and look forward to continuing to serve our customers with the same dedication and commitment that we have always endeavoured to.” 

Mishtann Foods Limited (MFL) is an agro-product company in India involved in the manufacturing, processing & trading of rice, wheat and other food grains with its preliminary focus on branded basmati rice.  

Mishtan Foods has a market cap of Rs 750 crore. The company has reduced the debt and delivered good profit growth of 80.5 per cent CAGR over the last 5 years. 

Today, shares of MFL plummeted 3.58 per cent to Rs 7.54 per share with the day’s high of Rs 7.94 and the day’s low of Rs 7.49. The shares of the company saw a spurt in volume by more than 1.24 times on BSE. 

The shares of the company have a PE of 15.4x and a ROE of 39.71 per cent. The stock gave multibagger returns of over 230 per cent in just 2 years. This FMCG Small-Cap stock should be kept under the radar.