Multibagger penny stock under Rs 15: Promotors of this small-cap company hikes stake via market purchase, do you own it?

The stock gave multibagger returns of 315 per cent in just 2 years and over 750 per cent returns in 5 years

Mishtann Foods Limited (BSE: 539594), is one of India's leading FMCG company. As per disclosure data available on BSE, Mr Hiteshkumar Patel, Director & Promoter of the company, purchased 4,82,299 shares through market purchase on June 23, 2023.

Previously, the company had informed the exchanges that Nomura Singapore Ltd ODI, over the period has increased its stake in Mishtann Foods to 1.28 per cent (1,28,25,854 Shares).

Mishtann Foods Limited. (BSE: 539594), India's leading agro-food product company with a primary focus on various types of Basmati rice, has announced that it is looking to introduce new products for domestic markets, like free flow iodized salt, crystal salt and rock salt and also ventured into new markets like North Eastern India.

On Monday, shares of MFL zoomed 4.11 per cent to Rs 11.64 per share from its previous closing of Rs 11.18 per share. The stock has a 52-week high of Rs 12.55 and a 52-week low of Rs 7.09.

The company has reduced its debt and delivered good profit growth of 60 per cent CAGR over the last 5 years. The stock has a PE of 22.90x, a ROE of 39.70 per cent and a ROCE of 46.40 per cent. The revenue from operations grew by 10.04 per cent to Rs 168.89 crore and PAT increased by 7.45 per cent to Rs 14.13 crore in Q4FY23 over Q4FY22. The revenue from operations recorded a healthy growth of 30.45 per cent to Rs 650.38 crore and PAT increased by 59.94 per cent to Rs 49.92 crore in FY23 over FY22.

The stock gave multibagger returns of 315 per cent in just 2 years and over 750 per cent returns in 5 years. In the last financial year, the company declared bonus shares in the ratio 1:1 and a dividend of Rs 0.0010 per share for a face value of Rs 1. This FMCG Small-Cap stock should be kept under the radar.