2:1 Bonus Share & 10:1 Stock Split in FY24: Multibagger penny stock under Rs 10 in focus as company enters into a strategic partnership with Boomitra O2C Tech India
From Re 0.83 to Rs 9.36 per share, the stock gave multibagger returns of over 1,000 per cent in 3 years.
In a major development for sustainable agriculture in India, Sarveshwar Foods Ltd, a leading manufacturer and marketer of rice products, has joined forces with Boomitra O2C Tech India. This landmark partnership, announced on July 16, 2024, aims to revolutionize agricultural practices and empower farmers associated with Sarveshwar Foods Ltd. The collaboration leverages Boomitra's expertise in the soil carbon marketplace. Boomitra will guide and support over 17,000 farmers cultivating across 45,000 acres towards adopting regenerative agricultural practices. These practices prioritize soil health and environmental sustainability.
This initiative promises a multi-pronged benefit. By adopting regenerative methods, farmers can expect increased productivity and improved soil health. Additionally, the reduced greenhouse gas (GHG) emissions from these practices will translate into carbon credits, generating a new income stream for both Sarveshwar Foods Ltd and the farmers.
This partnership signifies a significant commitment from both parties. Sarveshwar Foods Ltd demonstrates its dedication to environmental responsibility and the economic well-being of its partnering farmers. Boomitra contributes its knowledge and established presence in the carbon market to empower these farmers and promote sustainable agricultural practices across India.
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About Sarveshwar Foods Ltd
On Tuesday, shares of Sarveshwar Foods Ltd plunged 2.60 per cent to Rs 9.36 per share from its previous closing of Rs 9.63 with an intraday high of Rs 9.90 and an intraday low of Rs 9.21. The stock’s 52-week high is Rs 15.73 and its 52-week low is Rs 2.24.
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).
The company has a market cap of over Rs 900 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 300 per cent in just 1 year. From Re 0.83 to Rs 9.36 per share, the stock gave multibagger returns of over 1,000 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.
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