The shares of this Micro-Cap company operating in the Agro Processing sector hit the upper 5 percent after the company opened its first Organic Store in Chandigarh.
On Tuesday, Shares of Sarveshwar Foods Ltd touched a 5 percent upper circuit at Rs 4.94 a share on the National Stock Exchange, The company has a market capitalization of Rs 450 crore.
According to the exchange filing, Sarveshwar Foods opened its first NIMBARK Organic Store in Chandigarh from this company to expand its presence beyond the territories through its signature stores, retail counters, and online marketplaces.
“NIMBARK Organic Stores’are Company’s Signature Stores opened and are operated by the company’s subsidiary M/s Himalayan Bio Organic Foods Limited showcase the entire range of organic food offerings in one place to provide our existing and prospective customers with an easier, more intuitive, user-friendly shopping experience
The Company, besides these ‘NIMBARK Organic Stores’ a chain of its Signature Stores, sells its products through more than 700 Retail Counters in Jammu, Srinagar, Ludhiana, Chandigarh, Lucknow, Khanpur, Punjab, Delhi NCR along with Online PAN India presence.
The operational income of the company has risen by 19 percent year on year, from Rs 272 crore in FY 21-22 to Rs 324 crore in FY 22-23. During the same time period, the net has increased by 33 percent from Rs 3 crore to Rs 4 crore.
Sarveshwar Foods’ operating margin has increased from 5.11 percent in FY22 to 5.84 percent in FY23, while the net profit rose from 4.88 percent to 5.66 percent during the same period.
According to the recent shareholding pattern, the company promoters hold 54.91 percent of the company, while Foreign Institutional Investors hold 3.76 percent and retail investors hold a 41.32 percent stake.
Sarveshwar Foods Limited is engaged in the business of manufacturing, trading, processing, and marketing of branded and unbranded basmati and non-basmati rice in the domestic and international markets.
Written by Omkar Chitnis
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